Anglo Irish gets state funding

Anglo Irish Bank said yesterday it had received a ¤3bn (£2.5bn capital injection from the Irish government, after the EU granted approval for state aid last week. The bank said it may receive a further ¤1bn, depending on the outcome of discussions to be held with the Department of Finance on a debt repurchase programme. Anglo Irish Bank was nationalised in January after taking a battering in the credit crisis. The government opted for a cash injection after the bank reported a pre-tax loss of ¤4.1bn for the six months to March.