Written answers
Tuesday, 15 July 2014
Department of Finance
Banks Recapitalisation
Michael McGrath (Cork South Central, Fianna Fail)
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164. To ask the Minister for Finance the proceeds that the State has received to date from the disposal of bank assets acquired in each institution as part of the recapitalisation process; and if he will make a statement on the matter. [30782/14]
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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