Taxpayers are unlikely to recover all of the money they put up to bail out AIB thanks to the hefty debt service costs associated with the investment.
The Comptroller and Auditor General annual report for 2018 said projected outcomes that the State would get its money back failed to account for the cost of servicing the debt associated with the rescue package.
"It is unlikely that the State will generate a surplus on its investment of €22.2bn in AIB," the report said.
It said the cost of the bailout for AIB was an estimated €9.5bn, after taking account of the €7.1bn value of the State's remaining shareholding in AIB, and said the costs of servicing the debt had so far amounted to €6.2bn.
Overall, the rescue package for AIB, Bank of Ireland, Permanent TSB and Ibrc had cost taxpayers a net €41.7bn by the end of 2018.
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