Annual Report & Accounts 2009 - Anglo Irish Bank

Impairment on investment property held on own account reflects weakening economic conditions in the markets where the
assets are located and a reduction in the recoverable amounts of the assets, based on the estimated future cash flows to be
derived from those assets.
Financial guarantee contracts and other credit provisions primarily represent obligations which arose during the period under
guarantees provided by the Group in respect of certain lending to customers. €78m of the charge relates to customer facilities
which are eligible for transfer to NAMA.
14. Profit on disposal of businesses 15 months Year
ended ended
31 December 30 September
2009 2008
€m €m
Cash consideration received 141 114
Carrying value of net assets on date of disposal excluding goodwill (92) (46)
49 68
Goodwill recovered (note 31) - (48)
Profit on disposal 49 20
On 19 December 2008 the Group completed the sale of Anglo Irish Bank (Austria) A.G. for a consideration of €141m. The
consideration was part financed by a subordinated loan of €24m from the Group to the purchaser and the transaction gave rise
to a profit on disposal of €49m.
On 29 February 2008 the Group disposed of Anglo Irish Bank (Suisse) S.A. for a consideration of €114m, which gave rise to a
profit on disposal of €20m.
Anglo Irish Bank
Annual Report & Accounts 2009
75