AIB ready to move quickly if given go-ahead for buyback of part of government’s stake in bank

Chief executive Colin Hunt said deal is ultimately a decision for the Minister for Finance

Colin Hunt, AIB chief executive: ‘We have all the necessary approvals in place to allow that to happen as expeditiously as possible but the timing is entirely at the discretion of the Minister of Finance.’ Picture: Fergal Phillips

AIB is ready to move ahead with the repurchase of part of the state’s 71 per cent stake in the bank as “expeditiously as possible” if given the go-ahead by government, its chief executive has said.

AIB this morning announced that it intended to hand €213 million back to its shareholders through share buybacks and dividend payments.

Included in that plan is a €91 million share buyback programme for which it has received regulatory approval.