Written answers

Thursday, 9 September 2021

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

192. To ask the Minister for Finance the total invested by the State and the cash received to date in disposals, redemptions and coupons, dividends and fees; the net cash position and valuation of remaining investment; and the net position at the end of July 2021 in banks (details supplied) in tabular form. [42018/21]

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael)
Link to this: Individually | In context | Oireachtas source

As requested by the Deputy, the table below sets out the cumulative position in relation to the State’s investment in AIB and PTSB as at end-July.

On the 23rdJune, I announced my intention to sell part of the State’s 13.9% shareholding in Bank of Ireland by way of a trading plan. At the same time, I confirmed that I was limited in the amount of detail I could disclose in relation to the plan as it would be detrimental to maximising value for the taxpayer. The number of shares sold, the average price achieved and the cash generated will be disclosed once the plan has been completed. Accordingly, the position in the table for BOI is at 22ndJune, the day before the announcement was made.

Table: Summary of State investments

- AIB* PTSB* BOI**
€m €m €m
Gross invested 20,751 3,954 4,667
Sale/redemption proceeds - including accrued int 7,112 1,891 3,597
Investment income 1,728 120 784
CIFS/ELG - net 1,783 669 1,547
Net cash position - In/(out) (10,128) (1,274) 1,261
Market value of equity stakes 3,999 497 676
Net position - including valuations (6,130) (777) 1,937

*Position for AIB and PTSB as at end-July 2021.

** Position for BOI as at 22 June 2021.

Comments

No comments

Log in or join to post a public comment.