Shares in bank part-owned by AIB set to jump

SHARES in US-based M&T Bank Corp – 22.64% owned by AIB – are set to jump, accordingto the latest edition of Barron’s.

M&T Bank has a market capitalisation of $6.895 billion (€4.8bn) which values AIB’s stake at €1bn – roughly half of AIB’s market cap of €2.174bn.

M&T Bank has been bruised by the mortgage market crisis, but its shares may jump as the large US mid-Atlantic regional bank looks set to emerge from the crisis with greater market share, according to Barron’s.