Scandals wipe over €360m off value of AIB shares

OVER €360 million has been wiped off the value of shares in AIB as a result of recent scandals that have rocked the country's largest financial institution.

Shares in the bank fell by 3% yesterday as it came under increasing pressure to name the senior executives who are facing serious allegations of tax evasion.

Tánaiste Mary Harney said she was appalled by the admissions by AIB and that she was considering introducing "draconian" penalties on the bank.