Allied Irish Banks PLC, Ireland's second-biggest bank, has tripled its reliance on funding from central banks since the end of June as companies and customers pulled money amid the country's debt crisis.
The bank's dependence on "monetary authorities" rose to $37 billion, from a "high-single-digit" billion-euro amount on June 30, Alan Kelly, general manager of group corporate services at Allied Irish, said in a telephone interview Friday. Funding conditions were "increasingly challenging," the Dublin-based lender said in a statement.
Deposits dropped by about 13 billion euros since the start of the year, Allied Irish said in the statement. That equates to about a 17% decline, Kelly said. Allied Irish said it will increase the amount it's seeking to raise in a share sale by the end of the year to 6.6 billion euros from 5.4 billion euros.