Royal Bank of Scotland Group Plc and Lloyds Banking Group Plc, rescued by British taxpayers last year, injected €3.03bn ($4.4bn) into their Irish units during the past 10 months amid rising real estate losses.
Records in Dublin’s Companies Registration Office show the two banks made a series of six payments, with the first in December and the most recent in August. RBS injected about €1.58bn, while Lloyds sent €1.45bn.
'The scale of that figure is quite shocking,' Brian Lucey, associate professor of finance at Trinity College Dublin, said in an interview. 'They weren’t leaders in the Irish market. The figure just shows the level of clean-up needed.'