€215m worth of State shares in AIB to be sold back to bank

Finance Minister Michael McGrath said given the strong rise in AIB’s share price over the past year, the decision was made to participate in the buyback programme on a 'directed basis'

The sale will see the State's shareholding in the bank reduce by 1% to 53.4%. Picture: Denis Minihane

Finance Minister Michael McGrath has announced the State will take part in AIB’s 2023 share buyback programme which will reduce the country’s ownership stake in the bank to 53.4%.

The buyback will see AIB acquire €215m of its shares back from the State in an off-market purchase.