Share will increase the amount that AIB has paid back of its €20.8 billion rescue to about €13.6 billion, with Government’s remaining stake in bank valued at about €4.3 billion
Minister for Finance Michael McGrath hired three investment banks on Monday to sell a further 5 per cent stake in AIB as the State continues to claw back the bank’s crisis-era bailout.
The share sale will increase the amount that AIB has paid back of its €20.8 billion rescue to about €13.6 billion. The Government’s remaining stake currently has a market value of about €4.3 billion – meaning that taxpayers are currently sitting on a €2.9 billion cash shortfall on their investment in the bank.
AIB last week hiked its full-year net interest income forecast for a third time in 2023, as savers have been slower than expected to move from low-rate accounts into its more attractive products.
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