Ireland Completes Exit from AIB After Government Stake Sale

Ireland has fully divested its remaining 2.06% stake in Allied Irish Banks (AIB), marking the end of government ownership that began with a near-total nationalisation during the 2010 banking crisis. The final share sale, generating approximately €305 million, concludes a gradual sell-off process that started in 2021 and returns AIB to full private ownership. This move represents a significant milestone in the Irish government's policy to privatise the banking sector following a €29.4 billion bailout of AIB, Bank of Ireland, and Permanent TSB during the financial crisis. Finance Minister Paschal Donohoe noted that the state has recovered €19.8 billion from AIB alone and is €600 million ahead overall on bailout costs, despite losses from failed institutions like Anglo Irish Bank and Irish Nationwide Building Society. AIB's CEO Colin Hunt acknowledged the bank's debt of gratitude to Irish taxpayers and emphasized the institution's focus on rebuilding trust and repaying the state. The government plans to use the proceeds from these sales to support national infrastructure projects, underscoring a strategic fiscal recovery effort after the crisis.