Anglo Irish Bank has raised a net €42 million (£33 million) through a placing of 14 million shares, placed at about €3.09 each, a small discount to the €3.15 closing price on January 4th. The shares closed at €3.18 yesterday. The placing, which follows Anglo's recent acquisition of the Swiss private bank Marcuard Cook for €84.6 million, was oversubscribed.

Anglo's finance director, Mr Willie McAteer, said the bank decided to take advantage of the good demand for Irish financial shares to replenish its capital base. The shares were placed with institutions in Ireland, Britain, the UK, the US and mainland Europe, he said.