Bank shares plunge despite ‘positives’

BANK of Ireland and AIB both saw their shares plunge yesterday despite analysts saying there are a number of positives from having the Government as a stakeholder.

Bank of Ireland shares closed down almost 6% to €1.11 while AIB also fell 6.3% to €1.01.

Merrion Stockbrokers said although the increased state ownership in Bank of Ireland can be seen as negative there are also a number of positive outcomes.