Government ends majority control over AIB for first time since banking bailout

Finance Minister Michael McGrath confirmed the situation.

The Government has ceded majority control over AIB for the first time since the bank was bailed out by taxpayers 12 years ago, Finance Minister Michael McGrath has confirmed. 

A placing of shares with investors amounting to 5% of the bank brings the stake owned by the Government to just below 47%, and further reductions are likely in the coming months after Mr McGrath extended the Government's so-called share trading plan to late January next year.