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Fri, 10th Aug 2012

Pre-tax losses of 1.2billion at Bank of Ireland

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Bank of Ireland is reporting pre-tax losses of 1.2 billion euro for the first half of the year.

That's an increase of 556 million euro of the same time last year.

The bank's Chief Executive Richie Boucher says hundreds of workers will leave the bank over the next 12 months as it's redundancy scheme is rolled out.

And he says there are some positive signs when it comes to mortgage arrears - even though the bank has increased the amount of money set aside for bad loans - from 842 million euro to 941 million.

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