Anglo Irish Bank to repay loan debt
Anglo Irish Bank have stated that they are no longer a systematic threat to the Irish economy, and that once they have finished winding down on the sale of their bad loans, they should be able to repay some of the 29 billion Euros loaned to them.
They now consider the bank to no longer be a threat to the Irish economy.
“It’s no longer systemically dangerous” remarked Ango Irish Bank’s CEO Mike Aynsley, as reported by Reuters.
Ango Irish posted a net lost of 105 million Euros from January to June 2011, a narrowing of the loss incurred in 2010 which was a staggering 17.65 billion Euros.
In 2010 Ango Irish moved 34 billion euros of bad loans in to NAMA and is reported to still have 300 million still to transfer.
Article by LoansIreland.ie.