Press release
Minister Donohoe welcomes Bank of Ireland’s announcement in relation to the State’s shareholding
Published on
Last updated on
Published on
Last updated on
The Minister for Finance, Paschal Donohoe TD, welcomes today’s announcement by Bank of Ireland that the State is no longer its largest shareholder.
Commenting on the news, Minister Donohoe stated:
“Due to the operation of our trading plan which is gradually selling the State’s shares into the market, our shareholding in Bank of Ireland has now fallen below 7%. This has resulted in the State no longer being the bank’s largest shareholder. This is a very positive development for both the Irish State and for Bank of Ireland.
The Irish Government believes that banking is an activity that should be provided by the private sector and that taxpayer funds which were used to rescue the banks should be recovered and used for more productive purposes. As today’s news shows, we continue to make progress in achieving this goal.”
ENDS