Minister was advised not to delay €593m AIB share sale

State has now clawed back €16.1bn from the €20.8bn that it had invested in AIB during the financial crash

In a post-sale submission, officials said the AIB shares had been sold at a price of €4.90, which was 24.7% higher than what had been achieved in a similar sale in November of 2023. File photo: REUTERS/Jason Cairnduff

The previous Minister for Finance Michael McGrath was told AIB was one of the best-performing bank stocks in Europe and that a further sale of State-held shares would not create the legal requirement to revisit the salary cap for senior staff.

The minister was also told by officials that the window for a summer sale was closing quickly ahead of the latest reduction of the State’s stake in the bank which yielded €593m for the Exchequer.