Irish banks given cash injection

A total of 5.5 billion euros will be injected into the Allied-Irish Bank, the Bank of Ireland and the Anglo-Irish Bank by the Irish government.


23 December, 2008

Bank of Ireland and Allied Irish will each get 2 billion euros in return for an 8% dividend; Anglo-Irish will be given 1.5 billion euros in return for an annual fixed dividend of 10% and 75% of its shares.

In return for the help, the banks will increase lending to small firms and first-time buyers, and help people having trouble repaying mortgages.




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