Image: infomatique via Creative Commons

DIOCESES HEADED BY CARDINAL Sean Brady and Archbishop Diarmuid Martin have lost millions of euros after the value of Bank of Ireland shares dropped, according to the Irish Independent.

The value of the bank’s shares have fallen from a 2007 high of €18.70 to just 42.5c yesterday.

Brady’s archdiocese in Armagh holds 409,000 BOI shares which are understood to have dropped from over €7.6m in value to €204,000.

The Independent also reports that Martin’s Dublin archdiocese had previously lost out on AIB shares before seeing its BOI shares worth over €10m in 2007 fall to €270,000.

The Belfast Telegraph reports that BOI shares owned by the Diocese of Raphoe in Donegal have fallen in value from €7m to €192,000.

Other investors believed to have been seriously affected by the share price drop include Minister Mary Harney and her husband Brian Geoghegan, the HSE, Fine Gael’s Richard Bruton and Fianna Fáil TDs Ned O’Keeffe and Mary O’Rourke, according to the Irish Independent.

A company which invests on behalf of masonic lodges in Ireland is reported to have lost over €12m on the value of its shares over the last three years.

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