Donohoe says sale of bank stakes may take several market cycles

Minister for Finance says that while the government did not envisage the state being a long-term investor in the banking sector, neither did it see itself divesting its full shareholding for some time

Paschal Donohoe: “Government can play an important role in many ways, but it should not be a major owner of banks,

Selling the state’s holdings in AIB, Bank of Ireland and Permanent TSB could take a number of market cycles, the Minister for Finance has warned.

Paschal Donohoe said that while the government did not envisage the state being a long-term investor in the banking sector, neither did it see itself divesting its full shareholding for some time.

“Given the extent of these investments, [selling the state’s shares] was never going to be achieved in the ...