The value of the State’s holding in AIB rose by €1.7 billion in 2014, according to the latest valuation carried out for the National Treasury Management Agency. This has emerged from the NTMA’s review for last year. The State’s holding in AIB and Bank of Ireland is managed by the Ireland Strategic Investment Fund, which has taken over the role of the National Pensions Reserve Fund.
The valuation was carried out by EY, the auditors to Anglo Irish Bank at the time of its collapse and nationalisation in 2008-09. This values the State’s ordinary and preference shares in AIB.
At the end of 2014, the AIB holding was valued at €11.7 billion while the State’s 14 per cent stake in Bank of Ireland, which has a main market listing on the Irish Stock Exchange, was worth €1.4 billion. The State also holds €1.6 billion worth of contingent capital notes in AIB, also known as CoCos.