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Thu 08 Aug 2008Anglo Irish shares fall nearly 3% despite growth
ANGLO IRISH Bank shares fell almost 3 per cent yesterday despite the bank reiterating its forecast that earnings would rise 15 per cent for the full year to September 30th amid slower lending, higher bad debts and difficult market conditions.
Anglo said in a trading statement that the economic environment would remain "significantly challenged" and that it would adopt "a very cautious and selective approach" on new lending until next year, with loan growth "moderating further". The bank said its focus would be managing "asset quality" and growing its capital.
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