AIB focus as UK slashes valuations of its banks

A huge downward revision by the UK government of its bailed-out banks has once again put a spotlight on the over-valuation of AIB and other banks here on the State’s books.

In an assessment prepared as part of its budget this week, the British government has said it faces an almost £27bn (€31bn) loss from rescuing failed banks during the 2007-2009 financial crisis after a slump in the lenders’ value since Britain’s vote to leave EU.

Shares in RBS — the owner of Ulster Bank — and Lloyds have fallen by about a fifth since the June 23 vote to leave the EU.