AIB shares slump as lender outlines reforms

AIB shares slumped in Dublin yesterday as the bank and its Government owner made good on their promise to reform its bizarre share structure.

However, the announcement may likely come as a surprise to many shareholders who held onto their shares after the crash in 2010.

The bank has in the past said that it has done all it could to warn shareholders about a necessary share consolidation as part of the Government’s plans to prepare to sell a 25% stake in the lender in an IPO sometime after the election next year.