Written answers
Tuesday, 28 January 2014
Department of Finance
State Banking Sector
Michael McGrath (Cork South Central, Fianna Fail)
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216. To ask the Minister for Finance if he will set out in tabular form the proceeds by institution from the disposal of investments in the State supported banks in each year since 2010; and if he will make a statement on the matter. [4169/14]
Michael Noonan (Limerick City, Fine Gael)
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I can confirm to the Deputy that, since the State first invested in the banks, the following disposals have been made:
| Date of disposal | Bank | Transaction | Total proceeds - including accrued interest/dividend |
|---|---|---|---|
| April 2010 | Bank of Ireland | Cancellation of preference share warrants | €491m |
| December 2010 | Allied Irish Banks | Cancellation of preference share warrants | €53m* |
| August 2011 | Bank of Ireland | Sale of equity shares | €0.24bn |
| October 2011 | Bank of Ireland | Sale of equity shares | €0.81bn |
| 2012 - no disposals | |||
| January 2013 | Bank of Ireland | Sale of convertible contingent capital note (CoCo) | €1.06bn |
| July 2013 | permanent tsb | Sale of Irish Life | €1.34bn |
| December 2013 | Bank of Ireland | Sale/redemption of preference shares | €2.05bn |
* These proceeds were netted off in calculating the State's recapitalisation investment.
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