Two IL&P officials to resign over Anglo deposits

Two senior figures in Irish Life & Permanent are to resign following the latest scandal to hit the Irish banking system.

The company said after a board meeting last night that group finance director Peter Fitzpatrick and treasury head David Gantly will be stepping down.

The move follows this week's revelation that IL&P made multi-billion euro lodgements in Anglo Irish Bank just before the end of the latter's financial year last September.

The lodgements allowed Anglo to give the impression that its balance sheet was much healthier than it actually was.

In a statement last night, the IL&P board apologised for mistakes made by the bank and said a full review of procedures was underway.

However, it said it declined to accept an offer of resignation by chief executive Denis Casey.