Anglo Irish buys Ansbacher

ANGLO Irish Bank has completed its £13 million cash acquisition of the Dublin based private bank, Ansbacher. First announced in late December 1995, the consideration has now been finalised after a due diligence examination. Ansbacher has gross assets of about £185 million. The deal will bring net assets of £11.6 million and attributable profits of £850,000 to Anglo. The deal is the third major acquisition by Anglo in the past 12 months - early last year the bank paid £13 million for the Austrian subsidiary of the Royal Trust Bank of Canada and in December 1995 acquired the £61 million sterling loan book of Allied Dunbar in Britain.