IFA suffers 98pc hit on AIB shares
Published 02/11/2010 | 05:00
The IFA's shareholding in the troubled AIB has collapsed to less than 2pc of its worth just four years ago.
Over the years, the organisation had amassed nearly 25,000 shareholdings in the bank, making it one of the most significant individual shareholders on its register.
These are calculated to have been worth €569,020 in 2006. Currently, they are worth less than €9,000, with the former blue-chip shares currently trading at 35c each.
Unfortunately, from the IFA's point of view, it looks like we haven't seen the end of the bank's fall just yet. Finance experts are predicting that the shares will fall further in value when the bank is effectively nationalised by the Government next month.