AIB shares begin recovery

Shares in AIB have recovered slightly this morning after slumping yesterday following news of an alleged $750m fraud in the bank’s US subsidiary Allfirst.

Shares in AIB have recovered slightly this morning after slumping yesterday following news of an alleged $750m (€866m) fraud in the bank’s US subsidiary Allfirst.

AIB shares were up more than 4% during early trading in Dublin after falling 15% yesterday.

Meanwhile, the AIB is continuing its investigation into the alleged fraud after the prime suspect voluntarily spoke to the FBI and federal prosecutors yesterday.