Bank of Ireland shares gain 4% as buy-back programme begins to roll

BANK of Ireland shares rose

Following its aborted bid for Abbey National last year, group chief executive Mike Soden said the bank would now start a rolling programme of purchasing its shares on the market to increase shareholders' value.

"These purchases are consistent with the bank's overall capital management strategy, which seeks to maximise capital efficiency, whilst maintaining prudent regulatory ratios and enhancing returns to shareholders," Mr Soden said.