Just 21 months ago, the Church of Ireland's 2.3 million shares in Bank of Ireland were worth '42m -- had the stock been off-loaded when it reached the historic high of '18 a share.

Sunday Independent (Dublin, Republic of Ireland) | November 23, 2008 | Copyright

Bank of Ireland, once a safe bet, has left many religious institutions counting their losses, writes Jerome Reilly

Just 21 months ago, the Church of Ireland's 2.3 million shares in Bank of Ireland were worth '42m -- had the stock been off-loaded when it reached the historic high of '18 a share.

By Friday morning when the bank's share had actually "rallied" to the heady heights of '1.17 a share the value of the church's portfolio was just '2.7m.

And they are not alone. The disastrous fall in the value of the stock once considered as good as gold has ...

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