Anglo Irish Bank

Anglo Irish Bank Corporation (Banc Angla-Éireannach) is a bank based in Ireland and with its headquarters in Dublin. The company mainly deals in business and commercial banking, with the result that it has only a limited retail presence in the major Irish cities. It also has wealth management and treasury divisions. Anglo-Irish has operations in Austria, Switzerland, the United Kingdom, the United States, and the Isle of Man. The company made €1.2bn in the financial year Sep. 2006–Sep. 2007. Anglo Irish Bank's heavy exposure to property lending, with most of its €72bn loan book being mainly to builders and property developers, meant that it was badly affected by the downturn in the Irish property market in 2008.

In December 2008, the Irish government announced plans to inject €1.5bn of capital for a 75% stake in the bank, effectively nationalising it. On 15 January 2009, the Government of Ireland announced that recapitalization of the bank was no longer viable and instead fully nationalised the bank. The Dublin and London Stock Exchanges immediately suspended trading in Anglo Irish's shares, with the final closing share price of €0.22 representing a fall of over 98% from its peak. On 16 January 2009, the Taoiseach Brian Cowen stated that is was 'business as usual' at Anglo Irish Bank and that people should be reassured that the bank is solvent. A new board is to be put in place under a new chairman, Donal O'Connor.