Irish bank shares rocked by 'Leave' result in UK referendum

Irish taxpayers were among the biggest losers yesterday as the fallout from the UK’s decision to leave the EU upended global markets and wiped more than €260m off the value of the State’s shareholding in Irish banks.

Shares in Bank of Ireland and Permanent TSB slumped badly from early morning to finish down 20.81% and 19.84%.

Hundreds of millions of euro was wiped off the value of the two banks with Irish taxpayers shareholding in the financial institutions falling by €260m or so.