AIB shares tank 24% as the Covid-19 costs to loan books are counted

Shares in AIB posted crisis-era losses as international investors assessed the damage to the economy and the loan books of the country’s banks from the fallout of the Covid-19 crisis.

AIB tanked by 24% and Bank of Ireland closed 5.5% lower, but only after it pared significantly higher losses during the session, as markets assessed the implications of the shutdown and the loss of thousands of jobs for the loan books of the lenders.