Michael McGrath (Cork South Central, Fianna Fail)
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97. To ask the Minister for Finance his plans for the State's remaining share in a bank (details supplied) and other State assisted banks; and if he will make a statement on the matter. [30696/17]

Paschal Donohoe (Dublin Central, Fine Gael)
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As the Deputy will be aware, the State last week sold 25% of AIB's ordinary share capital at a price of €4.40 per share for consideration of almost €3 billion. The State also granted an additional over-allotment option over a further 3.75% of AIB's ordinary share capital as part of this transaction. This transaction was strongly supported by a broad range of international institutional investors with all of the top 15 investors being categorised as longer term investors and sovereign wealth funds.

Following the AIB IPO the State's remaining shareholding in the bank is in a 'lock-up' period of 180 days. This is standard market practice in an IPO. I would therefore expect no further sale of AIB shares in 2017. After this period, I and officials in my Department will continue to monitor the performance of the bank, its prospects, its share price and equity markets more broadly to determine the best route to retrieve the optimal return of value for the Irish taxpayer. Under the Programme for a Partnership Government any future sale of AIB shares contemplated before the end 2018 would need to be approved by the Government.

Similarly, I and my officials continue to monitor the performance of Permanent TSB and Bank of Ireland and plan for exit opportunities, however I have no immediate plans to sell any of the State's shares in these banks either at this time.