Irish bank shares rise on State's Bank of Ireland sale plan

Move marks the first loosening of State ownership in the banks since AIB’s partial share float in 2017

Finance Minister Paschal Donohoe announced the Government’s plan for a phased exit from its near 14% stake in Bank of Ireland yesterday. File picture.

Irish banking shares rose solidly in the wake of the Government making its first move in the gradual process of selling the State’s stakes in the country’s main lenders.

Shares in Bank of Ireland and Permanent TSB rose by over 3% a day after Finance Minister Paschal Donohoe announced the Government’s plan for a phased exit from its near 14% stake in Bank of Ireland.