Investors to pump €1.12bn into BoI

THE state’s shareholding in Bank of Ireland will not exceed 32.4% after a deal was reached that will see a number of private investors pump €1.12 billion into the bank.

The Government’s full stake will be made known after today’s rights issue deadline, but will fall between 15% and 32.4%.

It means Bank of Ireland will remain the only Irish bank not in state ownership. Currently, the state controls 36% of Bank of Ireland and it was feared this could rise to 70%.