BoI valued at less than €1bn as shares dive

BANK of Ireland’s shares fell to a new low yesterday, falling 23.5% to close down at 83 cents, valuing the company at less than €1 billion.

At its peak the bank was worth nearly €19bn before loss of confidence in the Irish banks triggered a huge sale of shares in Irish banks.

As the crisis in the banking sector deepened Fine Gael’s deputy leader and finance spokesman, Richard Bruton, said the country had enough of the “wait and see” attitude from the Government on this growing crisis.