Tuesday 28 March 2017

BoI shares rise 12pc to highest in three years

Sarah McCabe

Sarah McCabe

BANK of Ireland's share price has risen to its highest level in nearly three years -- growing by 12pc in the last two days.

The bank's shares have doubled in value over the past six months, giving the bank a market capitalisation of about €9.3bn. If the price doubles again, Bank of Ireland will have the same market capitalisation it enjoyed before the banking crash.

Yesterday, the price of Bank of Ireland shares touched 29.4c -- the highest since early 2011.

Shares in the lender jumped 8pc on Tuesday morning after the NTMA's successful sale of a highly oversubscribed 10-year bond.

Shares were up another 3.2pc by yesterday afternoon after the bank sold its own five-year bond, raising €750m.

On Monday, Barclays fixed-income analysts picked the stock as their top European banking pick for 2014.

Full report: Business Week

Irish Independent

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