State to sell its stake in Bank of Ireland in phased exit

State invested €4.7bn in the bank in the wake of the financial crash

CEO Francesca McDonagh: "State investment in Bank of Ireland over a decade ago should never have been needed."

The Government has announced it will sell part of the State’s 13.9% shareholding in Bank of Ireland over the next six months.

The Minister for Finance, Paschal Donohoe TD said it marks the start of a phased exit from the State’s remaining investment in the Bank.