Anglo engaged in €7.2bn deal after 'bad month' for the bank, court told

Anglo Irish Bank engaged in a €7.2bn back to back deal to boost their balance sheet for the year ending September 2008 because it was such a bad month for the bank, a court has heard.

Four former senior bankers from Anglo Irish Bank and Irish Life and Permanent (ILP) are on trial for allegedly conspiring to mislead investors by setting up a €7.2bn circular transaction scheme to bolster Anglo's 2008 balance sheet.