Anglo Irish managers have impaired loans

Updated: 12:37, Wednesday, 10 June 2009

The chairman of Anglo Irish Bank has disclosed that some staff of the bank have impaired loans to the bank.

1 of 2 Oireachtas Committee Anglo chairman before committee
Oireachtas Committee
Anglo chairman before committee
2 of 2 Donal O'Connor Aware of impaired loans
Donal O'Connor
Aware of impaired loans

The chairman of Anglo Irish Bank has disclosed that some senior staff at the bank have impaired loans to the bank.

Watch the committee hearing

The disclosure was made at a presentation to the Oireachtas Committee on Finance and Public Service.

Labour Party finance spokesperson Joan Burton said some senior people in Anglo Irish Bank had become 'players not just lenders'.

The bank's executive chairman Donal O'Connor confirmed he was aware of the issue.

Mr O'Connor did not disclose the extent of the impaired loans to people working in the bank.

However, he stressed that all customers would be treated in the same way.

Government-appointed director Frank Daly said any conflict of interest would be dealt with in the bank's decision making.

Mr O'Connor also stressed winding-up the bank would cost the tax payer more than keeping it as a going concern.

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