Anglo Irish may need further €10bn

ANGLO Irish Bank has admitted there is a chance it will need a further €10 billion of government money this year as it posts the biggest ever loss for an Irish company.

Anglo reported a pretax loss of €12.7bn for the 15 months to end of December 2009 after writing off €15bn in bad loans.

According to the bank’s annual report, outstanding loans to directors totalled more than €150 million at the end of December 2009, with provisions for impairment of more than €108m.