As Anglo and Irish Nationwide are wound-down, over 1,000 people remain employed there

There are still over 1,000 people employed by the state-owned entity that combined Anglo Irish Bank and Irish Nationwide Building Society.

To some the Irish Bank Resolution Company (IBRC) is simply a solution to winding down two of the banks associated with the bad old days of Irish banking. However, it’s also still something of a major employer within Ireland’s financial sector.

This shouldn’t be entirely surprising – in the first half of this year it slipped to a €724m loss, largely on the back of loan impairments, suggesting that there’s still a lot of work to be done on working out the €18bn worth of loans.

Headcount is down 15% on the end of 2011, but there are still a lot of staff. 775 people are employed directly by IBRC, and a further 256 are employed either directly or indirectly by NAMA.

"The first six months of 2012 continued to present significant economic challenges for IBRC. Notwithstanding the continued macro economic challenges, the six month period to 30 June 2012 was one of relative operational stability and steady progress towards the orderly wind down of the bank,” said Mike Aynsley, group chief executive