Written answers
Thursday, 10 July 2014
Department of Finance
State Banking Sector
Michael McGrath (Cork South Central, Fianna Fail)
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59. To ask the Minister for Finance the current value of the State's investments in AIB, Bank of Ireland and Permanent TSB; and if he will make a statement on the matter. [30661/14]
Michael Noonan (Limerick City, Fine Gael)
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I can confirm for the Deputy the following in relation to the current valuation of the State's remaining investments in AIB, Bank of Ireland and Permanent tsb.
| Bank | Investment | Valuation | Source |
|---|---|---|---|
| Allied Irish Banks | Equity | €6.5bn | NPRF (end 2013) |
| - | Preference Shares | €3.5bn | NPRF (end 2013) |
| - | Contingent capital (CoCo) | €1.6bn | Par redemption value |
| Bank of Ireland | Equity | €1.16bn | Irish Stock Exchange - closing price 4th July 2014 |
| Permanent tsb | Contingent capital (CoCo) | €0.4bn | Par redemption value |
In addition to its investment in the CoCo, the State also has invested €2.3bn in Permanent tsb equity in July 2011. The State holds this investment at the investment value in the Finance Accounts. No recent independent valuation has been commissioned, nor is such an independent valuation required for the Finance Accounts.
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