Business Irish

Monday 26 June 2017

Value of State's stake in AIB falls by €900m to €11.3bn

AIB (Stock picture)
AIB (Stock picture)
Colm Kelpie

Colm Kelpie

The value of the state’s stake in AIB was €11.3bn at the end of last year – down €900m over the last year.

The state holds a 99.9pc stake in the bank.

Bank shares globally have taken a battering, last year in particular.

The Ireland Strategic Investment Fund (ISIF) also valued the state’s 14pc stake in Bank of Ireland at €1.1bn.

AIB was valued at €11.3bn. This compares with €12.2bn at the same time last year.

It is understood that the drop in value does not change the Government’s plans for selling 25pc of the state owned lender.

Finance Minister Michael Noonan said a sale could take place as early as May or June.

Mr Noonan had held off on firing the starting gun on an AIB listing for more than a year, citing market conditions.

However, it is understood there is no surprise in Government at the fall in the value of the stake. Other considerations including investor appetite also factor into the decision to sell.

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