Irish banks hit lows that see shares undervalued

IRISH bank values have sunk to lows seen only a few times over the last 20 years.

As a result, new analysis suggests the stocks are worth between 25% and 35% more than they are currently valued on the ISEQ 100, where they account for about 30% of the total market.

For the past year financial stocks have been harder hit than most, due to fears among overseas investors in particular about their substantial exposure to the Irish economy and the Irish housing market in particular.