ANGLO IRISH BANK requested to be taken over by Bank of Ireland on the same day the government extended the bank guarantee in September 2008, it has been revealed.

Realising that the bank was facing insolvency and may not being able to open the following day, Anglo chairman Sean Fitzpatrick and chief executive David Drumm approached Bank of Ireland governor Richard Burrows and CEO Brian Goggin and asked for a takeover.

The request was rejected, but prompted Drumm and Burrows to contact AIB. Both banks then requested a meeting with the government, which was at that time in the middle of crisis meetings.

Bank of Ireland and AIB met with Taoiseach Brian Cowen and Minister for Finance Brian Lenihan to highlight their concerns regarding Anglo – on the same day the blanket guarantee was announced.

The revelation is discussed in RTÉ’s two-part programme Freefall, which airs on RTÉ 1 tonight.

Making a difference

A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.

For the price of one cup of coffee each week you can make sure we can keep reliable, meaningful news open to everyone regardless of their ability to pay.

Support us Learn More

BoI refused to take over Anglo on same day of guarantee

Making a difference

A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.