Anglo €17.7bn loss largest in corporate history

ANGLO IRISH BANK has reported a loss of €17.7 billion for 2010, the largest annual loss in Irish corporate history — and also more than was forecast in early February.

However, the bank’s management has said that it is unlikely that any more taxpayers’ money will have to be pumped into the failed institution.

The latest figures from the disgraced nationalised lender included impairment charges of €7.8bn (including charges of €2.6bn directly relating to NAMA-transferred loans) and a loss of €11.5bn on the disposal of assets to NAMA.