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Wed 10 Oct 2009Merrill Lynch's Irish unit makes €1bn after-tax losses
MERRILL LYNCH, the US investment house taken over by Bank of America at the peak of the financial crisis, made after-tax losses of $1.5 billion (€1.03 billion) in its Irish-based unit, Merrill Lynch International Bank.
According to documents filed at the Companies Office, the pretax loss on ordinary activities at the Irish incorporated wing of Merrill Lynch was $1.47 billion in 2008, a year that was marked by extreme financial volatility.
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