UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
under the Securities Exchange Act of 1934
For the date of 18 November 2014
ALLIED IRISH BANKS, public limited company
Bankcentre, Ballsbridge, Dublin 4, Republic of Ireland
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F..X... Form 40-F.....
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ..... No ..X...
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ________
AIB - VALUATION
Allied Irish Banks, p.l.c. ("AIB") notes media coverage of the Minister for Finance's comments in relation to the bank made on Monday, 17 November 2014.
As previously stated by AIB, most recently in the bank's Interim Management Statement of 10 November 2014, AIB has c.523 billion ordinary shares in issue, of which 99.8% are held by the National Pensions Reserve Fund Commission ("NPRFC"). 500 billion of these ordinary shares were issued to the NPRFC in July 2011 at a price of €0.01 per share. Based on the number of shares currently in issue and the closing share price of 17 November 2014, AIB trades on a valuation multiple of c.6x (excluding 2009 Preference Shares) 30 June 2014 Net Asset Value (NAV). AIB continues to note that the median for comparable European banks is c.1x NAV.
-ENDS-
For further information, please contact:
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Enda Johnson
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Head of Corporate Affairs & Strategy
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AIB Bankcentre
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Dublin
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Tel: +353-1-772 6010
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email: enda.m.johnson@aib.ie
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ALLIED IRISH BANKS, p.l.c.
(Registrant)
Date: 18 November 2014
By: ___________________
Mark Bourke
Chief Financial Officer
Allied Irish Banks, p.l.c.