Allied Irish Banks

Wall St.'s 10 Biggest Losers This Week

It's been a volatile week for investors, but certain stocks suffered far more than others. Here%u2019s a rundown of some of the biggest losers -- where they were on Monday and what they cost as of Friday's closing bell.

Allied Irish Banks to Sell M&T Bank Stake for $2 Billion

Allied Irish Banks (AIB), the lender being taken over the Irish government, will raise roughly $2 billion by selling its 22.4% stake in M&T Bank Corp (MTB). The Dublin-based bank will offer 26.7 million notes for a price of $77.50 each, Bloomberg News said. The notes will be exchanged for shares in M&T by Nov. 15.

Ireland Bank Bailout Could Cost $68 Billion

The Irish government is working to take majority control of one troubled lender, Allied Irish Banks (AIB), and to inject yet more cash into another, Anglo Irish Bank Corp. The moves could take the cost of Ireland%u2019s bank bailout to as much as 50 billion euros ($68 billion), according to Bloomberg News.

Allied Irish Banks Posts First-Half Loss of 1.73 Billion Euros

Allied Irish Banks (AIB) announced a steep increase in first half losses on provisions for past-due property loans. The net loss in the first half of the year was 1.73 billion euros, compared with a loss of 786 million euros in the first half of 2009, The Wall Street Journal said. Operating income fell 24% to 2 billion euros, excluding 963 million euros in losses related to the National Asset Management Agency.

Investor Confidence in Allied Irish Banks, Bank of Ireland Improved

The recent European stress tests show that investor confidence towards Irish banks Allied Irish Banks (AIB) and Bank of Ireland (BKIR) has improved, Fitch said. In its semi-annual review of Irish banks, the rating agency said that this improved investor confidence may strengthen the banks%u2019 ability to raise funds, The Irish Times reported.