State to further reduce shareholding in AIB to 32.6% following €999m share buyback

Off-market purchase reached a final price of €5.0395 per share

Mr McGrath said the proceeds from the transaction will be held within the Irish Strategic Investment Fund while he examines "how best to use them for the benefit of the State."

The state has reduced its shareholding in AIB once again after the lender bought back almost €1bn in its shares from the Government.

The transaction, which AIB shareholders approved at its recent extraordinary general meeting, will see the Government’s stake in the bank fall to under a third at 32.6%, down from 71% at the beginning of 2022.