Last checked at 27 Jun 2024 07:05
27 June 2024 |
AIB Group plc - STATement on STATE DIVESTMENT
AIB Group plc notes the announcement by the Irish Department of Finance regarding the sell down of c. 5% of the issued ordinary capital of the Group, which brings the State's shareholding below 30% to c. 25.5%.
Commenting on the share sale, AIB Group Chief Executive Officer Colin Hunt, said:
"We very much welcome the decision and subsequent transaction undertaken by the Minister for Finance, which has led to a further divestment of the State's shareholding in AIB Group plc to c. 25.5%.
This well-supported transaction is another important milestone in the normalisation of the share register and will yield a further c. €593 million for the Irish taxpayer to whom AIB owes an immense debt of gratitude for its support during the financial crisis. This brings the total proceeds returned to the State to over €16 billion.
We are in the first year of our new strategic cycle and our transformed Group is well-positioned, generating sustainable profits, supporting our 3.3 million customers and delivering attractive shareholder returns."
-ENDS-
Contact details:
Niamh Hore / Siobhain Walsh | Paddy McDonnell / Louise Kelly |
Investor Relations | Media Relations |
AIB Group plc | AIB Group plc |
Dublin | Dublin |
Tel: +353-86-3135647 / +353-87-3956864 | Tel: +353-87-7390743 / +353-87 216 1545 |
Forward Looking Statements
This document contains certain forward looking statements with respect to the financial condition, results of operations and business of AIB Group and certain of the plans and objectives of the Group. These forward looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward looking statements sometimes use words such as 'aim', 'anticipate', 'target', 'expect', 'estimate', 'intend', 'plan', 'goal', 'believe', 'may', 'could', 'will', 'seek', 'continue', 'should', 'assume', or other words of similar meaning. Examples of forward looking statements include, among others, statements regarding the Group's future financial position, capital structure, Government shareholding in the Group, income growth, loan losses, business strategy, projected costs, capital ratios, estimates of capital expenditures, and plans and objectives for future operations. Because such statements are inherently subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward looking information. By their nature, forward looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward looking statements. These are set out in the Principal risks on pages 27 to 30 in the 2023 Annual Financial Report. In addition to matters relating to the Group's business, future performance will be impacted by the Group's ability along with governments and other stakeholders to measure, manage and mitigate the impacts of climate change effectively, the impact of higher inflation on customer sentiment and by Irish, UK and wider European and global economic and financial market considerations. Future performance will further be impacted by the direct and indirect consequences of the Russia-Ukraine War on European and global macroeconomic conditions. Any forward looking statements made by or on behalf of the Group speak only as of the date they are made. The Group cautions that the list of important factors on pages 27 to 30 of the 2023 Annual Financial Report is not exhaustive. Investors and others should carefully consider the foregoing factors and other uncertainties and events when making an investment decision based on any forward looking statement.