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BoI in talks on how to meet targets

Bank of Ireland - Aims to offer shares to shareholders
Bank of Ireland - Aims to offer shares to shareholders

Bank of Ireland has said it is in talks with the State about ways of meeting financial targets set by the Central Bank for the end of this month.

The bank must raise €2.2 billion of capital, €700m of which has already come through a bond exchange.

In a statement responding to media speculation about the bank's plans, Bank of Ireland said it was discussing 'a number of structures' with the State.

It said it was aiming to facilitate a share offering to shareholders at some point after February 28, when there was further clarity after Central Bank reviews of the banks' financial position, which are due to be completed by March 31.

There were reports at the weekend that State funding could be used as a short-term bridge without increasing the taxpayer stake in Bank of Ireland.