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Dublin: 14 °C Wednesday 17 July, 2019
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AIB is going to start paying back some of those billions to Ireland

Shareholders will vote today on a number of measures.

Image: Rollingnews.ie

SHAREHOLDERS IN AIB will vote today on whether to repay €1.7 billion given to it by the State.

The vote will take place at an extraordinary general meeting (EGM) being held at 10am this morning, where shareholders will meet to discuss a capital reorganisation scheme.

This scheme will include a number of measures that will see over €4 billion returned to the Irish taxpayer over the next year.

The Irish State rescued AIB in 2008 with a €21 billion bailout. The bank is now 99.8% State-owned.

The bank is currently valued at €18.8 billion, and the EGM today will pave the way for an initial public offering (IPO) next year, which could see the State privatising 25% of the bank.

Read: AIB boss: ‘I did my level best, but it wasn’t enough. I can never get away from that’

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Cormac Fitzgerald

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