Bank of Ireland purchased 275,000 shares at a price of €9.5183 yesterday. The shares will be held as Treasury Stock.
The Bank said yesterday's purchase is the start of a rolling share buy back programme. 'It is clear evidence of our commitment to increasing shareholder value,' Mike Soden, Group Chief Executive, said.
'We are confident that the share buy back programme will, over time, have a positive impact on both return on equity and earnings per share which are two key performance measures,' he added.
Bank of Ireland shares closed up 40 cent at €10 in Dublin.
