State to end up with 90% AIB stake

AIB is looking at virtual nationalisation, with the state likely to end up with a 90% equity holding.

It will not be fully nationalised like Anglo Irish Bank and will retain its listing on the stock market, Minister for Finance Brian Lenihan said.

Asked if he would stand for 2,000 jobs being shed for commercial reasons from the bank after the state becomes the majority stakeholder, Mr Lenihan said: “Let’s be clear about this. AIB is not going to be nationalised in the way that Anglo Irish Bank was.