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AIB to repay state close to 4 billion euros ahead of IPO - finance minister

Reuters

DUBLIN (Reuters) - Ireland will receive close to 4 billion euros from Allied Irish Banks (AIB) in the near term from income and capital returns ahead of a potential initial public offering (IPO) next year, Finance Minister Michael Noonan said on Friday.

AIB won regulatory approval on Friday to repay 1.7 billion euros of government bailout funds, beginning the process of repaying the 21 billion euros lent to it during the 2008-9 financial crisis.

"When income as well as capital returns are taken into account I am confident that the state is on track to achieve a return approaching 4 billion euros from our investments in the bank in the near term," Noonan said in a statement.

(Reporting by Padraic Halpin; Editing by David Holmes)