Irish bank shares drop as Deutsche becomes new focus of industry turmoil

Banking stocks across Europe recorded declines amid concerns about the stability of the sector

AIB recorded the largest fall of any Irish bank in early trading, with its stock falling by 6 per cent. Picture:

The share price of Ireland’s main lenders dropped today after concerns about Deutsche Bank led to further worries about the financial stability of the sector.

AIB’s stock fell by 6 per cent, while Bank of Ireland and Permanent TSB both recorded declines of 5 per cent in early morning trading.

Shares in Deutsche Bank tumbled after it said it will redeem a tier 2 subordinated bond early. Such moves are usually intended to give investors ...