The Minister for Finance has said that he expects to be able to announce shortly that the State's stake in Bank of Ireland has been reduced to zero.
It follows a process in recent months that has seen the State sell down gradually its shares in the bank.
"This will be an important milestone in delivering on the Government's policy to return the banks to private ownership," Paschal Donohoe told the Oireachtas Finance Committee.
"And proceeds generated from the share trading plan since its launch, will be well over €800m," the Minister added.
The process of selling down the State’s Bank of Ireland shares began in June of last year.
At that point the country owned 13.9% of the bank.
In total, the State put €4.7 billion into Bank of Ireland during the financial crisis, with the initial investment coming in early 2009.
Since then, Bank of Ireland has returned more than €6 billion to the State, making it the only Irish bank to have repaid the Irish taxpayer for its support.
Mr Donohoe added that in June, the State sold a 5% stake in AIB, reducing its shareholding to 63.5% and generating €305m for the Exchequer.
He said a low key and low cost share trading plan for AIB, which had been operating prior to June's stake sale, will resume at the end of this month.
The Minister added that his department will continue to monitor markets for future opportunities to sell down more of the State's shares.
