Irish Nationwide Building Society
The Irish Nationwide Building Society (INBS) was an Irish credit institution based in Dublin , which existed from 1873 to 2011. It was founded as the Irish Industrial Building Society and renamed to its current name in 1975. Due to the financial crisis , it was eventually merged into the Anglo Irish Bank .
Being heavily involved in financing the Irish real estate market, Irish Nationwide was hit hard by the financial crisis and the bursting of the real estate bubble in Ireland . In 2009 there was therefore a total loss of € 2.5 billion. In August 2010 she applied for state aid amounting to 5.4 billion euros, for which she was nationalized. In 2010 Irish Nationwide was split up, the assets were sold to Irish Life and Permanent , and the bad loans were combined with Anglo Irish Bank to form Irish Bank Resolution Corporation .