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

I thank the Deputy. At the end of 2015, the Irish Strategic Investment Fund valued the State's 99.9% shareholding in AIB at €12.2 billion. The value of shares in banks all over the world fell considerably thereafter, although, as the Deputy will be aware, there has been a recovery in recent months. For example, both Bank of Ireland and Permanent TSB, for which there are accurate quotations on the market, are now trading well above the lows experienced during 2016. The value of the former has appreciated by 52% and that of the latter by 81%. There is, therefore, an indication that we might achieve the kind of values we would require.

No final decision has been taken. We have appointed a syndicate and I am getting financial advice on an ongoing basis. A number of events will be necessary before we would proceed. There is the issue of a dividend, which must be sanctioned by the regulator in Frankfurt, and would probably enhance value somewhat. In addition, the annual returns of AIB, which are due out in March, will give an indication to the market of the profitability of the bank. I will keep the Deputy informed.

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