Timeline: The eye-watering losses of Anglo Irish

Thursday 30 September 2010 10:10 BST

Here are some of the key events around the collapse and rescue of Anglo Irish Bank.


May: Anglo Irish Bank's shares peak at more than 17 euro (£15) each.


September 30: Amid international banking turmoil, the Government announces a 400 billion euro (£353 billion) guarantee scheme covering the country's six main banks, including Anglo.

December 18: Sean FitzPatrick resigns as chairman and admits he hid more than 80 million euro (£70 million) in secret loans from shareholders.

December 21: Government recapitalises Anglo with 1.5 billion euro (£1.32 billion).

December 29: Anglo shares plummet to just 12 cents (10p).


January 15: The Government is forced to nationalise Anglo.

January 30: One-time billionaire Sean Quinn reveals his family has lost 1 billion euro (£850 million) on risky Anglo stock deals - the figure subsequently rises to 2.8 billion euro (£2.4 billion).

February 10: Irish Life & Permanent confirms it deposited 7 billion euro (£6.1 billion) in Anglo in September 2008 to boost the balance sheet, forcing IL&P's chief executive and two directors to resign.

February 20: Anglo's annual report shows it lent 451 million euro (£398 million) to 10 big customers to buy shares in the bank.

A PricewaterhouseCoopers report finds Anglo has 15 customers who owe the bank more than 500 million euro (£441 million) each.

February 24: Anglo HQ in central Dublin is raided by the fraud squad and white collar crime investigators to seize documents and computers.


March 18: Fraud squad detectives arrest FitzPatrick over the fraud investigation and release him without charge.

March 31: Anglo reports the biggest corporate losses in Irish history - 12.7 billion euro (£10.9 billion).

July 12: "Seanie" FitzPatrick is declared bankrupt in the High Court.

August 31: Anglo's record losses soar to new heights - 8.2 billion euro (£7 billion) for the six months to June 2010.

September 30: The Central Bank says the Anglo bail-out could ultimately cost citizens 34 billion euro (£29.1 billion).

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