Bank focused on repaying state some of its €20bn next year

Management at AIB has said it hopes to be in a position to take on more private investment and to pay back some of the €20bn pumped in by the state, sometime next year.

At the publication yesterday of the bank’s annual financial results, AIB’s new chief executive, David Duffy, said management had been in discussions with potential private investors for some time and would hope to see some real investment by the end of next year. Mr Duffy hopes the second half of 2013 will see a clearer picture regarding the level of fresh investment likely to come into AIB.

However, when asked how much of the Government’s investment might be paid back, or how much of its 99% stake might be reduced, Mr Duffy said it was too early to judge.