Oireachtas Joint and Select Committees
Wednesday, 15 February 2023
Select Committee on Finance, Public Expenditure and Reform, and Taoiseach
Estimates for Public Services 2023
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised)
Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source
I will revert to the Chairman's initial question and give him partial information, but we will write to the committee with a full statement of account regarding the capitalisation that was invested and the amount we have received back at this stage. A total of €29.4 billion was invested in AIB, Bank of Ireland and Permanent TSB over the period from 2009 to 2011. To date, approximately €21.1 billion has been recovered in cash by way of disposals, investment income and liability guarantee fees.
The remaining investments in the banks are currently valued at about €6.5 billion leaving a gap of about €1.8 billion. Taking AIB, Bank of Ireland, Permanent TSB and combining what we have received in cash so far and the value of the shares that we continue to hold in relation to both AIB and Permanent TSB the shortfall is some €1.8 billion. Of course, Anglo Irish Bank investment is an entirely different story.
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