The Chief Executive of Anglo Irish Bank has said he expected the bank would be split into a funding bank and an asset recovery bank by the end of the year.
Speaking on RTÉ Radio's News at One, Mike Aynsley said the new structure, which the Government had decided upon, was not the format that had been previously discussed.
However, he said that because of its similarities to the original plan, much of the preparatory work had already been done.
He said the management was currently revising the business plan, which would be sent to the European Commission for approval in three to four weeks.
In the meantime, the management would continue the planning work on the physical split.
Mr Aynsley said now that a decision had been made, the bank was already in a better position now that there was certainty on its future.
