Anglo wants to become 'fund-raising platform'
By Emmet Oliver
Wednesday August 04 2010
Anglo Irish Bank can become a "fund-raising platform'' for the entire Irish economy and a key lender to Irish exporting companies, the nationalised lender has claimed to investors.
In an update for bond investors, the bank said Ireland faces a "growing fund gap'' with deposits hard to attract and international banks wary of providing wholesale funding.
Into that gap Anglo can be of some use, suggests the update. "Anglo's funding platform provides the ability to raise retail, corporate and wholesale funding domestically and internationally,'' said the bank in a document sent out to investors in June. In terms of what the bank can offer to industry, the lender said: "Anglo will continue to offer tailored corporate banking services to help Irish companies -- especially key development industries and the export sector.''
