Bank of Ireland and the Irish taxpayer

Between 2009 and 2011 Bank of Ireland received €4.8 billion from the Irish State. This level of support was vitally important during the financial crisis and was gratefully received. Bank of Ireland made it a top priority to repay the Irish taxpayer as quickly as possible. To date, the Group has returned c.€6.5 billion to the State, making it the only Irish bank to have repaid the Irish taxpayer for its extraordinary support.

The decision taken by the Government in June 2021 to sell its remaining 13.9% shareholding in Bank of Ireland was a milestone in normalising the State’s relationship with the sector. As of the 19th January 2022 the State is no longer the largest shareholder in the Bank and as of the 10th May 2022 the state’s shareholding has been reduced to below 4%. During 2022 we expect Bank of Ireland to become to the first Irish lender to return to full private ownership.