Shares in AIB and Bank of Ireland drop all gains made since start of year

Irish banks' stocks caught up in the global banking turmoil as ECB moves to reassure markets that eurozone lenders are safe

AIB shares closed 2% lower in The St Patrick's Day session, marking losses of up to 7% this week. Stock picture

AIB and Bank of Ireland shares fell today after being caught up in the turmoil swirling around global banking, as the European Central Bank said eurozone lenders were safe.

Irish banks were among the best stockmarket performers in Europe in the past year, but they have now lost all the gains clocked up in market value worth many billions of euro since the start of this year.