Allied Irish May Be 90% State-Owned By Year-End, Davy Says
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Ireland may need to inject 3.5 billion euros ($4.7 billion) of capital into Allied Irish Banks Plc by the end of the year, leaving it with a 90 percent stake in the nation’s second-largest lender, Stephen Lyons, an analyst with Dublin-based securities firm Davy, said.
The so-called Credit Institutions (Stabilization) Bill, published today, allows the government to inject capital into the Dublin-based bank before the end of the year to ensure it meets regulatory requirements, the finance ministry said.