Allied Irish Banks (AIB)

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Allied Irish Banks: Today, AIB, which was formed in 1966, through a merger of the Provincial Bank of Ireland, Royal Bank of Ireland, and Munster & Leinster Bank and reported its first loss in respect of 2009, will be delisted from the main market of the Irish Stock Exchange.

It will also delist from the New York and London Stock Exchanges.

In Dublin, AIB moves to the small companies section and from a value of €24bn at the height of the bubble, the once proud European bank, closed in Dublin on Monday with a value of €28m, with a share price of just over 26 cent.

The State will own about 92% of AIB following completion of further capital injections.The High Court ordered the delisting in December when the Minister for Finance used new emergency banking powers to inject €3.7bn in to the bank from the National Pension Reserve Fund.

Goodbody's Eamonn Hughes commented today: "AIB last night indicated it had received €2bn of acceptances for its €3.9bn lower tier 2 liability management exercise. The transaction (at 30c) will generate €1.4bn of core tier 1 gains for the bank and eat into the outstanding €6.1bn of core tier 1 capital required to be raised by the bank after the last capital assessment by the Financial Regulator.