Allied Irish Banks director Mr Kevin Kelly has made a profit of over £400,000 after buying shares at an options price and then selling some of these shares into the market.

Mr Kelly bought 90,000 shares on July 31st at an option price of 179p and a total cost of £161,000. He then sold 60,000 of shares at 630p to realise £378,000 in cash while the 30,000 shares he retains are worth over £190,000 at the current price for AIB shares in the market. Following the transaction, Mr Kelly has AIB 64,509 shares worth just under £410,000.