The Diocese of Meath has lost hundreds of thousands of euro from investments in bank shares, it has emerged.
St Finian’s Diocesan Trust in Mullingar,
which operates the finances of the Catholic diocese, invested in shares
in Allied Irish Bank and Bank of Ireland, according to figures published
in recent weeks.
These shareholdings have plummeted in value following
the collapse of the financial and banking system in the country.
The trust owns 19,420 shares in Allied Irish
Bank which, at their highest value, were worth €446,660. They are worth
just €6,797 today.
The trust is also listed as owning 2,880 shares,
which dropped from €66,240 at the height of their value, to €1,008.
The diocesan trust also had shareholdings in
Bank of Ireland, according to figures published last week.
A
shareholding of 542,542 was worth €10,145,535 at its height, but is now
worth €271,271.
A separate holding of 31,891 shares dropped
from €598,044 to €15,990, while a holding in the name of St Finian’s
List of the Dead of 19,670 dropped from €340,291 to €9,835.
The trust also holds 5,850, which were valued at €109,395 and are now worth €2,925.
Also included on the list is the PP of
Dunshaughlin, with a holding of 10,355 shares, which were once worth
€193,638 and are now valued at €5,177.
Numerous church bodies, both Catholic and
Church of Ireland, have invested in bank shares, as have the trustees of
the Charlton Endowments, Headfort, Kells, who have 61,661 shares in
Bank of Ireland, which were once valued at €1,292,544.
They are now
listed at €34,560.
SIC: MC/IE