Bank shares fall over NAMA price concerns

BANK of Ireland and AIB shares plunged more than 5% yesterday as the banks said non-participation in NAMA could have led to nationalisation.

Bank of Ireland and AIB are likely to receive a combined €28.2 billion for the toxic property loans they are selling to NAMA.

Based on the Government applying a 30% discount to assets, Bank of Ireland should get €11.2bn and AIB €17bn, both said yesterday in statements.