The Diocese of Waterford & Lismore has suffered a €100,000 loss due to the collapse in value of AIB shares.
New figures released last week reveal the momentous declines that shareholders of the troubled bank have endured.
Among the list of names that suffered the steepest decline is the Bishop of Waterford & Lismore Dr William Lee.
On behalf of the diocese, Dr Lee held 4,571 shares with the bank.
At their highest value four years ago, each share was worth €23, giving a combined value of €105,133.
Now, following the turbulence of the international financial markets and the Irish banking sector, the total share value is a mere €1,599 – or 0.34 cent each.
Undoubtedly, the fall is a huge blow for the financial state of the diocese, as over €100,000 has been wiped out.
The money invested by Bishop Lee would have comprised of key funds belonging to the entire diocese.
Many members of the clergy and church orders around the country held shares with AIB.
The shares were viewed as being secure options for investors, expected to return higher dividends than deposit accounts.
The biggest loss of a listed shareholder is the Church of Ireland Body, whose 750,000 shares dropped to a value of €262,500 from €17.3 million.
