Anglo reveals €8.2bn loss
Anglo Irish Bank has recorded a loss of €8.2bn for the first six months of the year.
The state-owned bank's losses doubled compared to the same period in 2009 as it took heavy writedowns on the value of loans transferred to the National Asset Management Agency.
Anglo has beaten its own unwanted record for losses in a six-month period for an Irish company.
The €8.2bn loss was brought about as the bank transferred just over €10bn worth of loans to Nama.
As a result, Anglo required another €8.6bn cash injection from the public purse with the Minister for Finance Brian Lenihan committing the money to ensure the bank remains in compliance with regulations on the level of capital banks are required to hold to protect against losses.
That brings the total amount of state funding committed to the debt-ridden institution to just under €23bn.
Analysts both at home and abroad are now predicting the final bill could be in excess of €35bn.
