Dáil Éireann Debate, Tuesday - 7 February 2017
167. Deputy Pearse Doherty asked the Minister for Finance if a decision to approve the sale of any shares owned by the Government in a bank (details supplied) will be put to a vote of Dáil Éireann; and if he will make a statement on the matter. [5385/17]
View answerThe State's shareholding in AIB is held in the ISIF's (Ireland Strategic Investment Fund) directed portfolio. In order to take any action in relation to the State's shareholding in AIB I would write to the ISIF and direct it accordingly.
To complete the repair of the banking system and ensure that banks are supporting the wider public interest, the Program for a Partnership Government allows for the sale of not more than 25% of any bank before the end of 2018 (plus any over-allotment option). Consistent with precedent, the decision to proceed with a IPO of AIB would likely be a decision for government.
