Department of Finance shareholding in the Group

The Group has today commented on the announcement by the Irish Department of Finance regarding the sell down of the State shareholding in the Group.

Francesca McDonagh, Group CEO, said:

“We welcome today’s announcement. This is a positive step – for Irish taxpayers, the Irish economy, and Bank of Ireland.

State investment in Bank of Ireland over a decade ago should never have been needed, but we will always be grateful for the support we received. We repaid the taxpayer by 2013, and again thank the State and Irish taxpayer for their extraordinary support.

Today’s announcement commences a process which will add to the returns already received, and also marks an important moment in normalising the relationship between the Irish State and Bank of Ireland.”