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Mon 03 Mar 2010Anglo Irish Bank will report record losses of up to €12bn
STATE-OWNED Anglo Irish Bank is preparing to post losses of between €10 billion and €12 billion – the largest in Irish corporate history – when it announces its financial results over the coming weeks.
The bank is expected to write off the record amount for the 15- month period to December 31st, 2009 as it faces an estimated discount of 35 per cent on €30 billion-€35 billion in loans being moved to the National Asset Management Agency (Nama).
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