This morning, the Department of Finance announced that the state had fully divested itself of its stake in Bank of Ireland. The state gave Bank of Ireland a €4.7 billion bailout during the financial crisis, and in exchange took 13.9 per cent ownership in it. The goal for the state has been to get the bank shares off its books as soon as possible, subject to not selling at a loss. The sale process got underway last summer. The markets have been kind to the government. The shares have risen 464 per cent since May 2020. Since the sale process…

Join The Currency

INTRODUCTORY OFFER.

Don’t miss out on what is going on with our daily unique stories from our team of skilled journalists and insightful commentators.

Members of The Currency get full access to over 3,700 exclusive interviews, investigations, and analysis, plus over 360 podcasts.

Annual membership is just €200 for the first year, a saving of €100.

Or try The Currency for the first month for a special introductory rate of €5, a saving of €20.

Cancel at any time.

To become a member today click here.

Bank of Ireland and the state: A relationship where both sides are happy to move on

For the government, selling out of Bank of Ireland brings cash in the door and absolves it from responsibility for unpopular decisions by the bank. For Bank of Ireland, today is a big day - no bank wants to be partially owned by the state.

23rd Sep, 2022 - 3 min read

Sean Keyes

Finance Correspondent

Join The Currency

INTRODUCTORY OFFER.

Join The Currency

INTRODUCTORY OFFER.

Sign In

Forgot your password?

Not a subscriber yet?

Create an account