Allied Irish Bank (AIB) will repay €1.7bn back to the State in the coming months as part of the Proposed Capital Reorganisation, it has been announced.
The bank has also confirmed that it expects to repay an additional €1.6bn in contingent capital notes by July.
AIB is currently 99% owned by the State. By slowly repaying its debt to the State, the bank will likely return to private ownership in due course.