Gerald Nash (Louth, Labour)
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32. To ask the Minister for Finance the price achieved for each disposal of shares in banks (details supplied) since 1 January 2020; the number of shares sold in each of those transactions; the number of remaining shares he holds in each bank; and if he will make a statement on the matter. [55771/22]

Gerald Nash (Louth, Labour)
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33. To ask the Minister for Finance the price achieved for shares in a bank (details supplied) in each transaction since he began selling down the State’s shareholding following the financial crash; the total yield and individual price per share in each of those transactions; and if he will make a statement on the matter. [55772/22]

Gerald Nash (Louth, Labour)
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34. To ask the Minister for Finance the price achieved for shares in a bank (details supplied) in each transaction since he began selling down the State’s shareholding following the financial crash; the total yield and individual price per share in each of those transactions; and if he will make a statement on the matter. [55773/22]

Paschal Donohoe (Dublin Central, Fine Gael)
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I propose to take Questions Nos. 32 to 34, inclusive, together.

As I have previously stated, the Irish Government believes that banking is an activity that should be provided by the private sector and that taxpayer funds which were used to rescue the banks should be recovered and used for more productive purposes. The State has made good progress in delivering on its policy of returning both AIB and Bank of Ireland ("BOI") to private ownership.

In June 2021, I announced that the State would begin selling its 13.9% shareholding in BOI through a trading plan. Given the success of phase one of the trading plan, I subsequently renewed the programme for a second and third phase, for which the details are set out in the table below. In September 2022 I announced the State had exited its shareholding in BOI, having achieved a higher price as each phase progressed, bringing total proceeds from the trading plan to €841m.

To 8 November 2022, the State has recovered €4.33bn of our investment in AIB by way of the IPO in 2017, phase one of the trading plan, the two share sales during 2022 and the bank's buyback programme Together these actions have reduced our shareholding from 99% to below 57%. The timeline by completion date and relevant details of these transactions are set out in the table below.

Please note that phase two of the AIB trading plan, while now paused, is still on-going and we will disclose the proceeds from this when it has completed in January 2023.

Gerald Nash (Louth, Labour)
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35. To ask the Minister for Finance the dividends received on shares held in banks (details supplied) since 1 January 2020; the dividend per share; and if he will make a statement on the matter. [55774/22]

Paschal Donohoe (Dublin Central, Fine Gael)
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In answering the Deputy's question, I should note that a recommendation to pay dividends is the sole responsibility of the board and management of the banks. I am precluded from intervening in commercial and operational decisions in any particular bank, even one in which the State has a shareholding.

I also wish to highlight that ECB guidance in relation to the COVID-19 pandemic in March and December 2020 impacted on dividend distributions for 2020 and 2021. AIB and BOI withdrew their proposed dividend for the year ended 31 December 2019 which was due to be paid in 2020. None of the banks paid a dividend during 2021.

The below table sets out the dividends received by year and institution for each of the past three years.

The dividend per share received from AIB and BOI in 2022 was 0.045c and 0.05c respectively.

Gerald Nash (Louth, Labour)
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36. To ask the Minister for Finance if he has held any meetings with Irish banks about the rate of interest paid on customer deposits; and if he will make a statement on the matter. [55775/22]

Paschal Donohoe (Dublin Central, Fine Gael)
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I have not held meetings with Irish banks about the rate of interest paid on customer deposits.

Neither I nor the Central Bank of Ireland have a role in prescribing or the setting of deposit interest rates offered by banks. These are commercial matters and are the sole responsibility of the board and management of the banks, which must be run on an independent and commercial basis.

Although the State is a shareholder in some of the banks operating in the State, they must be run on a commercial and independent basis, and their independence in this regard is protected by the framework relationship agreements.