Boucher: State will turn a profit from BoI shares

Bank of Ireland CEO Richie Boucher has hinted that the Government will soon sell its preference shares in the pillar bank, returning a profit to the taxpayer.

Speaking at the Cork Chamber Business Breakfast Mr Boucher said the Government was sitting on paper profits from its €1.8bn in preference shares.

Mr Boucher claimed that Bank of Ireland had essentially funded its own bailout and that the Government would turn a profit on bailing out the bank.