Bank Ireland (BKIR)

[biginvestors]

US billionaire Wilbur Ross has said he ranks his investment in Bank of Ireland as one of the best he has made.

The septugenarian took a 9.9% stake in the bank two years ago alongside a consortium of other US and Canadian investors.

In total the group bought just under 35% of Bank of Ireland, keeping it out of public ownership.

Asked in a Bloomberg TV interview what his "best bet" had been in recent years he said: "I think BOI is turning out to be a very good investment. The stock is up about 80% since we helped privatise it".

Mr Ross said he was confident the approach Bank of Ireland had taken to dealing with mortgage arrears was correct and had helped the bank deal with indebted borrowers more effectively than some of its peers.