Written answers
Wednesday, 5 November 2025
Department of Finance
Fiscal Policy
Ken O'Flynn (Cork North-Central, Independent Ireland Party)
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91. To ask the Minister for Finance given the recent completion of the State’s investment recovery in AIB Group €390 million returned, the final accounting position on the bank bailout including all direct and contingent costs; the amount of the funds that are earmarked for regional investment or will be returned to the Exchequer; and the assessment that has been made as to how Cork-based businesses and regional development programmes might benefit from this release of fiscal head-room. [60376/25]
Paschal Donohoe (Dublin Central, Fine Gael)
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The State invested €20.8bn in AIB between 2009 and 2011. Following settlement of the €390m AIB Warrant transaction announced in October 2025, c. €20.2bn has returned to the State from its investment in AIB.
Following the IPO in 2017 and the various share sales, the shareholding in AIB was reduced from c.71.1% at the beginning of 2022 to zero in June 2025, raising c. €16.2bn in the process. This was achieved through the AIB share trading plan along with seven accelerated bookbuild (ABB) transactions, various directed share buyback transactions with the bank and the Warrants transaction.
A further €2.3 billion of investment income (including dividends) was received and combined with €1.8bn of CIFS and ELG fees, a total of €20.2bn has been returned to the State from our investment in AIB.
| - | €bn |
|---|---|
| Sale/redemption proceeds | |
| Cancellation of Preference Share warrants | 0.05 |
| Sale/redemption of Contingent Convertible bonds | 1.76 |
| Sale/redemption of Preference Shares | 1.87 |
| IPO proceeds | 3.43 |
| Share sales proceeds (since 2022) | 8.67 |
| Cancellation of IPO warrants | 0.39 |
| 16.17 | |
| Investment Income | |
| Contingent Convertible bond coupon | 0.64 |
| Preference Shares coupon | 0.28 |
| Dividends | 1.36 |
| 2.28 | |
| CIFS/ELG | 1.78 |
| Total | 20.24 |
A total of €29.4bn was invested in AIB, BOI and PTSB over the period 2009 to 2011. To date, c. €29.7bn has been recovered in cash by way of disposals, investment income, liability guarantee fees, and the AIB Warrants transaction. The remaining PTSB investment currently has a market value of c. €0.9bn. This means we are currently c. €1.3bn above break-even on our €29.4bn investment in the domestic banks.
Divestment proceeds are directed to the Exchequer or the Irish Strategic Investment Fund and put to more productive uses like enhanced delivery of public services and helping us to overcome many of the challenges we face now and into the future including areas like housing and public infrastructure.
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