Government raises value of AIB stake to €13.3bn

The Government has increased the value of its 99.8% stake in AIB from €11.6bn at the end of 2013 to €13.3bn at the end of last year, according to the NTMA’s annual statement.

The Government’s shares in AIB are held by the National Pension Reserve Fund, which falls under the remit of the NTMA. The Government will announce the advisory team for the part sale of AIB over the next few days.

The Ireland Strategic Investment Fund (ISIF) will prioritise coming up with an investment strategy to underpin economic growth and employment, according to the new head of the NTMA, Conor O’Kelly. The ISIF was formally ratified on December 22 and is now responsible for investing the assets of the National Pension Reserve Fund. This includes initial investment commitments in Ireland of €1.4bn in the areas of infrastructure, venture capital, and long-term finance for SMEs.