Anglo posts €101m half year pre-tax loss

Updated: 21:52, Friday, 26 August 2011

Anglo Irish Bank has reported a pre-tax loss of €101m for the first six months of the year, compared to a loss of €8.2bn for the same period last year.

1 of 1Anglo posted a loss of €8.2bn for same period in 2010
Anglo posted a loss of €8.2bn for same period in 2010

Anglo Irish Bank has reported a pre-tax loss of €101m for the first six months of the year.

This compares to a loss of €8.2 billion for the same period last year, when it published the worst results in Irish corporate history for the second year in a row.

Anglo's total lending impairment charge, or loans unlikely to be repaid, fell to almost €1bn in the six months to June. That compares to impairments of €4.7bn reported in the same period last year.

Anglo's chief executive Mike Aynsley said that the asset quality of the bank's loan books across all sectors and locations continues to be hit by difficult economic and market conditions.

The bank, whose name is changing to Irish Bank Resolution Corporation, has received total capital support of €29.3bn to date.

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