The State has hired Bank of America Merrill Lynch, Davy and Deutsche Bank to assist in an initial public offering of AIB, which may come as early as next year.
The Department of Finance added that Morgan Stanley and Goodbody Stockbrokers are advising AIB on the matter.
"There remains no fixed timetable for any sale at this time, as it will depend on market conditions amongst other things," said Minister for Finance Michael Noonan in a statement on Friday afternoon.
“These appointments will ensure that the State has the option to sell some of the State’s shareholding in AIB during 2017 or indeed early 2018 as provided for in the programme for partnership government.”
The Minister has previously signalled he would like to sell an initial 25 per cent stake in the bank, which received a €20.8 billion bailout during the financial crisis. The State took a 99.8 per cent stake in the bank as a result.
AIB started to repay its bailout this time last year when it bought back about €1.6 billion of preference shares that it sold to the State in 2009. It returned a similar amount in July of this year when it redeemed contingent convertible bonds issued to Mr Noonan in 2011.
Meanwhile, the Department said that a process to select a number of additional investment banks to help sell AIB shares at the time of the IPO “will also take place at a future date yet to be determined”.
Rothschild remains the Department's independent financial adviser on options for AIB.
