Anglo Irish Bank Share price drop

Lucious Sweet

A colleague of mine has quite a large sum of money in an Anglo Irish Bank 30 day access account. He is a bit concerned with the substantial Anglo Irish Bank Share price drop over the past while. He doesn't have any shares, just savings.

Question are,
Does he have anything to worry about?
Is the bank secure or guaranteed or whatever the word is?
Or is there a possibility of a 'Northern Rock' happening?
Any recommendations on 'more secure' alternatives?


Ta,

Zaph

All stock markets have tumbled recently, especially over the last couple of days. TBH, he has nothing to worry about, the share price of a bank isn't necessarily a measure of how secure it is. Northern Rock had other problems due to how they funded their business and their inability to borrow at the start of the sub-prime crisis when all the credit dried up. It was this that caused investors to lose faith in the bank, not because of a falling share price. As for a guarantee, all bank deposits are guaranteed by the Central Bank to some extent, although there may be a limit on individual accounts.

Lucious Sweet

Thanks for the info Zaph.