Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

I think the Deputy understands the position on AIB. He put it succinctly in his original question. I do not intend to go for an IPO in 2016, but I am leaving the option open for 2017. There are not other considerations now, apart from the best price available. The decision will depend on market conditions and the assessment of whether we will get a good return for the taxpayer in 2017.

We have approximately 14% of Bank of Ireland. Again, we are under no pressure to sell. The stake will be sold in due course but there are no plans to go to market at present. Bank shares took a bit of a hit right across the world and especially in Europe since early summer so it is not a conducive market to selling the stake in Bank of Ireland either at present.

PTSB raised money on the markets and approximately 75% of PTSB is now owned by the State and 25% is owned by private investment. The shares are quoted but the value has gone down since the investment took place. PTSB has been doing quite well. It has almost completed its deleveraging and I expect values to increase there as well. Nothing immediate is planned. The same rule will apply to all three investments: when the time comes and the best possible return can be got for the Irish taxpayer then one or the other will be put on the market.

See this speech in context