AIB Agrees €500 Million Share Buyback With Irish State
- State’s holding in the bank now reduced to around 22%
- Total amount returned to state this year is €3 billion
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Ireland’s AIB Group Plc agreed a share buyback of €500 million ($553 million) with the country’s finance ministry Monday, according to a statement by the lender.
That means the state’s holding in the bank has been reduced to approximately 22%, down from the 71% it held at the beginning of 2022 having taken a stake during the financial crisis. The buyback brings the total amount returned to the state so far this year to €3 billion.