The rushed sell-off of AIB has already cost the taxpayer dearly as value of these shares have continued to rise, according to Social Democrats finance spokesperson Cian O’Callaghan.
Deputy O’Callaghan said:
“These are the same taxpayers who suffered so much to bail out the reckless banks and incompetent governments of the Celtic Tiger.
“Now, the government’s sell-off of its PTSB shares echoes this gung-ho approach.
“The Central Bank is currently reviewing PTSB’s capacity to lend for mortgages. Their decision will have a major impact on the bank’s ability to grow its market share.
“Selling off the majority stake in the bank before this decision is made makes no sense and could limit the pool of potential buyers.
“The public has already paid the price for the financial incompetence of their Government: through borrowing to bail out the banks, through deferred public services and infrastructure, and through crippling austerity.
“It is not enough to announce “we’re done” and walk away.
“Given the critical importance of maintaining competition in the banking sector, there is a strong case to be made for retaining a significant share of state ownership in PTSB.
“I’m calling on the government to immediately pause the sale of PTSB until the Central Bank’s decision has been reached.
“If the sale of PTSB is handled poorly, the cost will continue to be borne by ordinary taxpayers.”
October 31st, 2025