Two former bank executives have lost appeals against their convictions for a €7.2bn conspiracy to defraud in September 2008.

Former Anglo Irish Bank executive John Bowe and former chief executive of Irish Life and Permanent Denis Casey were found guilty last year of agreeing a scheme to mislead the public about the true health of Anglo.

This morning the Court of Appeal ruled that it was satisfied the convictions of the two men are safe and satisfactory.

Reading sections from the lengthy judgment, President of the Court of Appeal Mr Justice Sean Ryan said counsel for the two men deserve credit for their "industry" and "ingenuity" in setting up novel bases of defence.

He said the court had taken into account all of the grounds of appeal and arguments and considered every issue raised.

But the court concluded that despite the "herculean efforts by counsel and the myriad of issues raised" the judges were satisfied that the trial was satisfactory and the convictions safe.

The three judges dismissed their appeals.

The 2016 trial of Bowe, Casey and a third man, Willie McAteer, former finance director at Anglo Irish Bank, was one of the longest in the history of the State, running from January until the end of June that year.

The Court of Appeal said the appeals taken by Bowe and Casey also were "exceptionally protracted and lengthy" taking five days to hear.

Mr Justice Ryan said the grounds of appeal included arguments about the role of the State authorities, among them the Financial Regulator; objections to the admissibility of the evidence of the prosecutions accountancy expert Mark Hunt and submissions on rulings by the trial judge and directions by him to the jury.

There were grounds based on the acquittal of Peter Fitzpatrick, the former Irish Life and Permanent finance director who was found not guilty by the jury.

Denis Casey's counsel argued that convicting him was "perverse" and "inconsistent" having regard to the not guilty verdict for Mr Fitzpatrick, a lower ranking official in Irish Life and Permanent.

They also argued that the trial judge made an error by refusing to recharge the jury after Mr Fitzpartrick had been found not guilty.

They said the jurors should have been told that the case against both men was the same and that although Casey was group CEO, he had less contact on a day-to-day basis with trading floors.

The Court of Appeal found that the trial judge legitimately decided not to interrupt the jury's deliberations for the purpose of giving them further instructions.

In total Casey had 18 grounds of appeal and Bowe had 24 initially but dropped nine of his grounds.