Interest rate hikes by the European Central Bank had been “positive for Irish banks” and meant the timing was right for the State to sell more of its share in AIB, according to Department of Finance documents.
In submissions to Minister Paschal Donohoe, department officials said investor appetite for AIB had increased “notwithstanding lingering concerns” of a recession coming in Europe.
They said feedback from investment banks suggested the state could easily sell a stake of between €300 and €400 million in AIB at a much better price than in the most recent previous share offload in June.
