Aindrias Moynihan (Cork North West, Fianna Fail)
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209. To ask the Minister for Finance the shareholding held by the State in a bank (details supplied); the details of each State trading transaction in the bank since 1 January 2011; and the date and nature of the transactions, for example, purchase or sale of ordinary shares, the amount of shares transacted and the finance involved. [26671/17]

Aindrias Moynihan (Cork North West, Fianna Fail)
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210. To ask the Minister for Finance the value of the State's shareholding in a bank (details supplied). [26672/17]

Paschal Donohoe (Dublin Central, Fine Gael)
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I propose to take Questions Nos. 209 and 210 together.

In July 2011, the State purchased 13,123m units of ordinary shares as part of Bank of Ireland’s rights issue. Each unit of stock cost 10 cent and the total cost to the State of this investment was €1,312m.

At the time of participating in the rights issue, it was always the intention to on-sell a substantial portion of this investment to a consortium of North American investors. Accordingly, the State sold 10,510m units of stock in two tranches – one in July 2011 and the second in October 2011. Both sales were at a price again of 10 cent per unit of stock generating total proceeds of €1,051m.

The State currently holds a 14% equity stake in the bank. Based on the Irish Stock Exchange's closing price, this stake had a market value of c. €1.1bn as at 31 May 2017.