IL&P chairman apologises for Anglo loans

Irish Life & Permanent chairman Bowler has today apologised regarding the revelations about recent transactions involving Anglo Irish Bank, saying the transactions should not have been entered into.

Irish Life & Permanent chairman Bowler has today apologised regarding the revelations about recent transactions involving Anglo Irish Bank, saying the transactions should not have been entered into.

“They were wrong,” she said. “The board did not know that they were occurring and I apologise unreservedly for them.”

Bowler said she was providing full support to a number of enquiries on the transactions and had commissioned international consultants to advise it on changes necessary to prevent such occurrences happening again.

The transactions led to the resignation of three Irish Life & Permanent executives last month.

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