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Article: Ireland: CORRECT: Irish Bank Shares Fall On Expected NAMA Delay.
- Article from:
- TendersInfo
- Article date:
- October 29, 2009
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Byline: kusumv03
Shares in Ireland's banks plummeted Wednesday due to concerns about a delay in the transfer of loans to the long-awaited National Asset Management Agency, or "bad bank."
At 1605 GMT in Dublin, Allied Irish Banks PLC (AIB) was down 12% at EUR1.85 and Bank of Ireland (IRE) was down 22.7% at EUR1.70, after Finance Minister Brian Lenihan said the transfer of loans process could extend into January.
Lenihan had targeted the end of 2009 for the transfer of loans from the financial institutions participating in NAMA, but said this was looking ambitious: "The time limit could easily slip into January at the rate we're proceeding."
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