The Anglo Irish Bank has reported its largest loss in the Irish business history. The nationalized bank has declared a record loss of 6.7 billion pounds in the first six months of this year. In the month of March the lender reported losses of 11.4 billion pounds for last 15 months.

The bank entered in to severe financial difficulties in the year 2008 as the housing market of Ireland faced a sharp downturn at that time which pushed up the debts of the company.

The losses include the loan impairment charges which covered the bad debts of 3.9 billion pounds.

It also included the loss of 2.87 billion pounds as it transferred 8.8 billion pounds of assets to the National Asset Management Agency (NAMA). NAMA was founded to buy and manage the bad property loans of the financial institutions of the country.

In its statement the Anglo Irish Bank has said the gross customers’ loans will be standing around 31.5 billion pounds after transferring its loan assets to the NAMA.

The bank is now more focused on the public interest as it has to cover its losses.