Government announces €7bn recapitalisation of AIB and Bank of Ireland; Lenihan unaware of IL&P deposits of €7bn in Anglo
Feb 12th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Government announced on Wednesday a €7bn recapitalisation of AIB (Allied Irish Banks) and Bank of Ireland, with €3.5bn to be invested in Core Tier 1 capital in each of the banks, in return for an 8 per cent annual dividend payable in cash, or ordinary shares. In a related development, Minister for Finance, Brian Lenihan said he was unaware until last week that deposits of €7bn had been temporarily placed by Irish Life and Permanent (IL&P) in Anglo Irish Bank last September.