Doubt over BoI finance needs

BANK of Ireland has told the Irish government it needs 2 billion to 2.5bn (£1.6bn to £2bn) to recapitalise its business, but government advisers believe that is not enough, it has been reported.

The bank is said to have told ministers on Friday it would look at raising capital from private equity, but would prefer the National Pension Reserve Fund be used instead. Bank of Ireland declined to comment on reports that the amount the bank said it needs is an underestimation.