Anglo Irish Bank
| Anglo Irish Bank Corporation Ltd.
|
|
|---|---|
 |
|
| legal form | Private Company (Ltd.) |
| ISIN | IE00B06H8J93 |
| founding | 1964 |
| resolution | 2011 |
| Seat |
Dublin Ireland
|
| management | Michael Aynsley (CEO), Alan Dukes (Chairman) |
| Number of employees | 1777 (September 30, 2008) |
| Branch | Banks |
| Website | www.angloirishbank.ie |
The company Anglo Irish Bank Corporation Ltd. ( Irish : Banc Angla-Éireannach ) was a bank from Ireland that was listed on the Dublin and London stock exchanges until January 2009 . The company had its headquarters in Dublin and branches in Düsseldorf , Austria , Great Britain , USA and on the Isle of Man .
history
The bank was founded in 1964 as Dublin City Bank; In 1971 it was floated on the stock exchange. The name was changed to Anglo Irish Bank in 1986. Since the Anglo Irish Bank recently had a very large loan portfolio in the house construction sector (house purchase and construction loans), it was particularly hard hit by the cooling of the Irish house market (a real estate bubble burst) affected in 2008 (details here ).
The Anglo Irish Bank was nationalized by the Irish government on January 21, 2009 as a result of the global financial crisis with the entry into force of the so-called Anglo Irish Bank Corporation Act 2009 .
In order to maintain the financial stability of the Anglo Irish Bank, the government in Dublin had planned a capital injection of four billion euros and applied for this to the EU Commission on June 15, 2009 . On June 26, the EU Commission approved, also because the Anglo Irish Bank is of considerable importance for the Irish financial market.
In March 2010, the now nationalized bank announced a loss of 12.7 billion euros for the 2009 financial year. Loans totaling 23 billion euros were to be transferred to the National Asset Management Agency at a discount of 43 percent. In September 2010 it was announced that the bank would be split up. The entire lending business should be transferred to one bad bank , while the other bank should only take care of the deposit business . Minimizing costs to the Irish state was cited as the main objective of this measure.
For the 2010 financial year, the Anglo Irish Bank had to announce a loss of 17.7 billion euros, the highest loss ever by an Irish company.
resolution
On February 8, 2011 it was announced that Ireland would wind up the Anglo Irish Bank and the Irish Nationwide Building Society Bank. The deposits of Anglo Irish Bank were transferred to Allied Irish Banks by order of the Irish Treasury Department on February 24, 2011 .
The merger of the Anglo Irish Corporation with the Irish Nationwide Building Society (INBS) was completed in July 2011 and the company was renamed the Irish Bank Resolution Corporation . The EU Commission approved the liquidation of the merged residual bank, which was to be ended within 10 years.
The government guarantees for the controlled liquidation of the Anglo-Irish Bank cost Irish taxpayers about € 30 billion. As a result of the Irish banking crisis, Ireland's national debt rose rapidly from 25% of gross domestic product in 2007 to 118% in 2012, and Ireland had to apply for an aid package from the European Union and the International Monetary Fund .
Telephone recordings
On June 24, 2013, the Irish Independent released recordings of internal telephone calls made by the management of Anglo Irish Bank in September 2008 in the face of the banking crisis, in which bankers talk about strategies to deceive governments and central banks and how losses are passed on to taxpayers amuse yourself. In conversation, the two bankers discuss the need to cover up the real extent of the Anglo-Irish Bank's problems in order to get the Irish government to use taxpayers' money to rescue the bank:
“The strategy here is you pull them in, you get them to write a big check, and they have to support that money […] if they saw the enormity of it up front […] they might say the cost to tax payers is too high [...] if it looks big enough to be important, but not too big that it spoils everything, then I think you have a chance. "
“The strategy here is to pull them in, get them to fill out a big check, and then they have to keep the money flowing [...] if they saw the sheer scale from the start they might say this is too expensive for the taxpayer will [...] if it looks big enough to appear important but not big enough to ruin everything, then I think you have a chance. "
When in the course of the conversation is that these state funds "to bridge" ( bridging to serve), both bankers break spontaneously into laughter. There was angry and indignant reactions from the Irish public and beyond when the sound recordings became known.
Web links
- Anglo Irish Bank
- nowpublic.com: Named: four of Anglo's 'golden circle' . ( Memento from June 19, 2013 in the Internet Archive )
- Christoph Giesen: Dismantling the “best bank in the world”. In: Süddeutsche Zeitung . 2nd of July 2013.
Individual evidence
- ↑ a b angloirishbank.com: Annual Report 2008 ( Memento of the original from March 31, 2010 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (PDF)
- ↑ Christoph Giesen: Dismantling the "best bank in the world". In: Süddeutsche Zeitung , July 2, 2013.
- ↑ europa.eu : State aid: Commission approves capital injection for Anglo Irish Bank (26 June 2009)
- ↑ welt.de: Ailing former Anglo Irish Bank is being liquidated.
- ↑ a b c d Anglo Irish tape revelations spark official investigation. June 25, 2013, accessed June 25, 2013 .
- ^ Christian Bütikofer: 7 billion "pulled out of the ass". In: handelszeitung.ch , June 24, 2013. Accessed June 25, 2013.
- ↑ Marcus Theurer, Philip Plickert: Irish bankruptcy bankers have defrauded the state . In: Frankfurter Allgemeine Zeitung , June 25, 2013. Retrieved June 25, 2013.
- ^ Paul Williams: Abuse the bank guarantee, don't get caught - David Drumm . In: Irish Independent , June 25, 2013 (audio logs).
