Trial hears about Anglo's poor relationship with two of Ireland's other banks
The trial of four former bankers accused of conspiring to defraud investors in Anglo has been hearing about its poor relationship with other Irish banks.
They have denied trying to fool people into thinking that Anglo Irish Bank was healthier than it actually was during a five-month period in 2008.
Yesterday, one of Anglo’s former traders said he told the financial regulator that the bank was trying to manipulate its balance sheet for their end-of-year accounts in September 2008.
Ciaran McArdle described a number of €1bn transactions between Anglo and Irish Life & Permanent that led to their deposits looking much stronger than they actually were.
Between March and September 2008, the prosecution claims those back to back transactions amounted to €7.2bn.
Today, Mr McArdle gave details of the bank’s poor relationship with Bank of Ireland and AIB.
When talking about seeking help from Bank of Ireland during a phone conversation with a trader in IL&P, he said: "You could ask 47,000 people there - only to be told to f**k off!"
Former Anglo executives Willie McAteer and John Bowe and former IL&P executives Denis Casey and Peter Fitzpatrick all deny the charge.
