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Fri 04 Apr 2009Irish Nationwide reports after-tax loss of €243m
IRISH NATIONWIDE Building Society has reported an after-tax loss of €243 million for 2008 after setting aside €464 million to cover loan losses – a 10-fold increase on the previous year. This compares with an after-tax profit of €309 million in 2007.
The bad debt charge amounts to 4.4 per cent of the loan book at the end of last year, an increase from 0.39 per cent a year earlier.
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