State still mulling full banking withdrawal after Bank of Ireland share sale move

Government would make decisions on selling its majority stakes in AIB and Permanent TSB 'if the time was right', Finance Minister Paschal Donohoe said

Finance Minister Paschal Donohoe at a media briefing at the Department of Finance on Wednesday morning where he announced plans to sell the State's 13.9% shareholding in Bank of Ireland. Picture: Colin Keegan/ Collins Dublin

The Government has no immediate plans to sell part of its majority stakes in AIB and Permanent TSB following its unexpected announcement that it will cash out its 13.9% shareholding in Bank of Ireland over the next six months.

Finance Minister Paschal Donohoe made the announcement of the “phased exit” from Bank of Ireland with the State set to potentially earn €700m through the sale.