The value of the State's holding in AIB has continued to increase, it was worth €11.7bn at the end of last year according to new estimates from the NTMA.

This represents a 25% increase on 12 months ago. A performance update from the Irish Strategic Investment Fund (ISIF), which is part of the NTMA, estimated that the total value of the State's remaining stakes in AIB and Bank of Ireland is worth more than €13.5bn.

Ireland owns 99.9% or AIB - the previous Government signaled that it intended to float 25% of this holding during 2015.

Michael Noonan said that if re-elected the Government was ready to proceed with this floatation.

AIB has previously redeemed €1.9bn in preference shares which were held by the State.

The ISIF was set up as a replacement for the National Pensions Reserve Fund in 2014.