Monday 21 April 2014

BoI shares rise 12pc to highest in three years

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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