Allied Irish Banks exposure to WorldCom does not exceed $50 million, it was claimed today.
"There has been all sorts of speculation out there today but that is all grossly over-estimated. The exposure is more in the lower tens of millions of dollars than in the hundreds (of millions) and does not exceed $50 million," a banking source said under condition of anonymity.
A spokesperson for AIB, whose shares were trading down 0.95 cents at €12.78 this morning, said it was company policy not to comment on individual exposures.
"We do not comment on specific exposures for confidentiality reasons," he said.
AFP
