AIB value plummets by up to €2.7bn

The value of the State’s investment in Irish banks fell by over €3.3bn in just six months as a torrid start to 2016 rocked bank shares across Europe.

At the end of last year, the estimated remaining value of the State’s investment in AIB, Bank of Ireland, and Permanent TSB — including money already recouped through disposals and fees — stood at €29.3bn.

This was €0.3bn more than taxpayers originally pumped into the three banks.