Financial Results
On 31 March 2010, Anglo Irish Bank reported results for the 15 months to December 2009. Loss for the period were €12.7 billion, with an operating profit before impairment of €2.4 billion and an impairment charges of €15.1 billion driving the overall result. Total assets declined to €85.2 billion at the end of 2009 from €101.3 billion in September 2008.
With the substantial capital investment in the Bank by the government offsetting the provisions, the Core Tier 1 and total regulatory capital were €5 billion and €8 billion respectively at the end of 2009 versus risk weighted assets of €73 billion.
Anglo Irish Bank is the largest contributor of assets to Ireland's "bad bank", the National Asset Management Agency. It expects to transfer loans with a nominal value of €35.6 billion to NAMA over 2010 which would see the risk-weighted-assets fall to €43 billion.
In Anglo Irish Bank's 2009 Annual Report, referring to the QUINN group and related companies, it stated that the "High Court in Ireland appointed two joint provisional administrators to a significant corporate borrower of the Group. The Group is closely monitoring the situation and assessing the potential implications of this development which may have a negative impact on impairment charges in 2010."
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