Dáil Éireann Debate, Tuesday - 16 April 2013
242. Deputy Pearse Doherty asked the Minister for Finance if he is concerned that following the recent sale by KBC and Banco Santander of their 21.4% share in the Polish bank, Bank Zachodni WBK, for €1.2bn, that Allied Irish Banks in which he holds 99.8% of the shares, sold its 70% share in the same bank for €2.94bn in 2010. [16285/13]
View answerAs the Deputy will be aware the sale of Bank Zachodni WBK in 2010 reduced the capital injected by the State into AIB. It is unfortunate that the bank was required to sell the asset in 2010, however given the scale of losses incurred by AIB in recent years, the bank was required to generate capital in any way that it could in order to reduce the burden on the State.
