AIB Group plc has returned to full private ownership following an announcement by the Irish Department of Finance on the State’s exit from AIB’s share register.
Commenting on the development, AIB Group Chief Executive Officer Colin Hunt, said:
“Reaching this milestone is a significant day for the Group. AIB profoundly regrets that the institution had to be rescued by the State almost two decades ago and owes an immense debt of gratitude to Irish taxpayers for the support provided during that challenging time.
Since then, our focus has been on rebuilding trust, repaying the State and continuing to support our customers, communities and the wider economy.
The Group has undergone significant transformation and through the implementation of our proven strategy, we are well-positioned to continue generating value for all our stakeholders over the medium-term. With our market-leading customer franchise, resilient revenues and a strong capital position, we remain confident in the strong fundamentals of our business and our ability to play a positive role in the Irish economy, helping to build a more sustainable future for our customers while delivering sustainable returns for our shareholders.”
AIB remains in discussion with the Department of Finance regarding the potential purchase of warrants issued to the Minister at the time of AIB’s IPO in 2017, which, if transacted, would result in the cancellation of the warrants and additional funds being returned to the State*.