Wednesday 26 July 2017

Shame for the directors but financial disaster for investors

Siobhan Creaton

AIB's ejection from the official list on the Irish and London Stock Exchange is the ultimate humiliation for the once-mighty bank and is a shameful indictment of AIB's former senior management and board of directors who oversaw the destruction of so much wealth.

In the future AIB, the bank that graced the world's most prestigious stock indices, will sit alongside smaller companies like Donegal Creameries, Conroy Diamonds, Ormonde Mining and Total Produce on the Enterprise Securities Market (ESM), a list for small companies.

It's a spectacular fall by any standards. It's a disaster for AIB's staff and shareholders and for Ireland.

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