Stock Take

Lorcan Allen: The time might be right for state to sell its remaining €4.7bn in AIB shares

Banks profits are soaring due to rapidly rising interest rates so the government might be better off cashing in now before the ECB halts its tightening programme

Michael McGrath, Minister for Finance at the launch of Financial Services Union Strategic Plan. Picture: Fergal Phillips

On Wednesday morning last week, I chaired a breakfast business meeting held by the Athlone Chamber of Commerce, where Michael McGrath was the headline speaker.

As we prepared to start to morning session, the Finance Minister was busy checking his phone.

McGrath said he was keeping a close eye on the market reaction following the government’s move to reduce its shareholding in AIB below 50 per cent for the first time since the bailout by ...