€7.2bn loans were approved 'post transaction', former Anglo official tells David Drumm trial

The former head of treasury risk at Anglo Irish Bank has said that the €7.2bn loans to Irish Life and Permanent in September 2008 were approved “post transaction” and signed off by David Drumm and Willie McAteer, writes Sarah-Jane Murphy.

On day 25 of David Drumm's conspiracy to defraud trial at Dublin Circuit Criminal Court, Michael Nurse outlined the procedure used by the bank’s risk committees for approving such transactions.