DUBLIN (Reuters) - It will likely take five to 10 years for the government to sell its entire 99 percent shareholding in Allied Irish Banks (I:ALBK) following a planned minority stake sale next year, the bank's chief executive said on Wednesday.
"I think it's in the five to 10 (year) category, it's not, based on current assumptions, in the 10-plus and it's unlikely to be in the next very short number of years given the amount of value that needs to accrete," Bernard Byrne told reporters.
Byrne also said AIB is building capital "quite comfortably" right now and will be in a very comfortable position by 2019 to be able to meet a new central bank buffer announced last week forcing the bank to hold an extra chunk of capital.
