Dáil Éireann Debate, Tuesday - 28 February 2017
263. Deputy Michael McGrath asked the Minister for Finance to set down in tabular form the proceeds from the disposal of investments in the State-supported banks, by institution, in each year since 2010; and if he will make a statement on the matter. [10389/17]
Amharc ar fhreagra264. Deputy Michael McGrath asked the Minister for Finance to set down in tabular form the dividends the State received from investments in the State-supported banks, including interest on contingent capital notes, by institution, in each year since 2010; and if he will make a statement on the matter. [10390/17]
Amharc ar fhreagraI propose to take Questions Nos. 263 and 264 together.
As requested by the Deputy the following tables set out the proceeds from the disposal/redemption of bank investments, and income received from bank investments, since 2010.
Table 1: Proceeds from disposal/redemption of investments in the banks:
|
Year |
Transaction |
AIB |
BOI |
PTSB |
Total |
|
2010 |
Cancellation of preference share warrants |
€52m |
€491m |
||
|
2011 |
No transactions |
||||
|
2012 |
No Transactions |
||||
|
2013 |
Sale of contingent capital notes |
€1,056m |
|||
|
Sale/redemption of preference shares |
€2,050m |
||||
|
Sale of Irish Life |
€1,340m |
||||
|
2014 |
No transactions |
||||
|
2015 |
Redemption of preference shares |
€1,641m |
|||
|
Redemption of contingent capital notes |
€442m |
||||
|
Sale of equity |
€97m |
||||
|
Residual amount re sale of Irish Life |
€12m |
||||
|
2016 |
Redemption of contingent capital notes |
€1,760m |
- |
- |
- |
|
Total |
€3,453m |
€3,597m |
€1,891m |
€8,941m |
Note 1: Disposal/redemption amounts in the Table 1 include accrued interest/dividend at the date of the transaction.
Note 2: The amount of the redemption of the AIB preference shares in 2015 is net of the amount paid to redeem the EBS promissory notes of €225m.
Note 3: In the addition to the transactions above, the State received €1,017m from the sale of shares in BOI to a consortium of North American investors in 2011. This was shortly after the State had exercised its rights to purchase a block of shares at a cost of €1,229m. The net cost of these transaction was €212m for the State.
Table 2: Income received from bank investments:
|
Year |
Transaction |
AIB |
BOI |
PTSB |
Total |
|
2010 |
Preference share conversion fee income |
€52m |
|||
|
2011 |
Preference share coupon |
€215m |
|||
|
2012 |
Preference share coupon |
€188m |
|||
|
Contingent capital notes |
€160m |
€100m |
€40m |
||
|
2013 |
Preference share coupon |
€188m |
|||
|
Contingent capital notes |
€160m |
€40m |
|||
|
2014 |
Contingent capital notes |
€160m |
€40m |
||
|
2015 |
Preference share coupon |
€280m |
|||
|
Contingent capital notes |
€160m |
||||
|
Total |
€920m |
€743m |
€120m |
€1,783m |
Note 1: Accrued interest received at the date of disposal/redemption is included in Table 1 above, including €160m received when the AIB contingent capital notes redeemed in 2016. The AIB contingent capital instrument was the final debt instrument to be held by the State.
