Banking

Government cuts stake in AIB to 53% with sale of €215m worth of shares

Move means the state’s share in AIB has fallen from 71% at the start of 2022 as it has embarked on a programme of selling down

AIB: bank’s chief executive said it transferred more than €1bn back to the state in 2022 and another €215m on Tuesday. Picture: Bloomberg

AIB has agreed to buy €215.3 million worth of shares back from the government, in a move that cuts the state’s stake in the bank to 53.4 per cent.

The move is the latest in a series of selloffs from the government of its shareholding in Irish lenders, and the transaction involves 54.7 million shares – worth about 2.05 per cent of AIB’s issued share capital, the bank said this morning.

The buyback was completed ...