Friday October 30, 2020

Donohoe: state unlikely to recover full €29bn investment in banks for now

A drop in value of shares since the start of the pandemic has wiped €3bn off the state’s shareholding

Aiden Corkery

Political Correspondent

@aiden_corkery
17th May, 2020
Donohoe said investors were likely to be wary of investing in banks in which governments have a large stake at a time of financial crisis

The state is unlikely to recover its full €29 billion investment in AIB, Bank of Ireland and PTSB any time soon following a large drop in the value of its shareholdings in the banks, Minister for Finance Paschal Donohoe has said.

Irish bank shares had been struggling for at least 18 months before the Covid-19 outbreak in Ireland, but have fallen even more dramatically since then.

Shares in AIB have fallen from €2.45 on February 17...

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