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Ireland aims to sell 50 percent of AIB by 2020 - finance minister

Reuters
Ireland's Finance Minister Michael Noonan attends an interview with Reuters at his office in central Dublin February 11, 2014. REUTERS/Cathal McNaughton

DUBLIN (Reuters) - The Irish government would aim to sell 50 percent of Allied Irish Banks (ALBK.I) by 2020 if re-elected later this month, Finance Minister Michael Noonan said on Sunday.

Noonan said the government's current plan to sell 25 percent of the bank would probably go ahead in the autumn if the government wins the election on Feb. 26, depending on market conditions.

"Between autumn and 2020 we'll probably do another 25 percent," Noonan said, adding that all proceeds from any future bank stake sales would be used to reduce the national debt.

(Reporting by Conor Humphries; Editing by David Goodman)