Anglo Irish formally changes names to IBRC

The two groups, whose reckless lending helped trigger a crisis that forced Ireland into an EU-IMF bailout, have had their boards overhauled, their deposits sold off and are being wound down over the next 10 years.”I strongly believe that, in addition to meeting practical requirements for the merged organisation, this name change is of symbolic importance to all of us as we move on from the past,” Chief Executive Mike Aynsley said in a statement.”The cost to the Irish taxpayer caused by the disastrous lending practices and poor stewardship of Anglo Irish Bank and INBS will not be forgotten or forgiven.”

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