Branches sale and lease back could see AIB raise €500m

AIB could raise an extra €500 million from the sale and lease back of a large portion of its 325-branch network on the island of Ireland.

Yesterday, the bank disclosed details of a deal to sell a large chunk of its existing bankcentre property in Ballsbridge for €377.7m cash, in a sale and leaseback deal.

Once the deal is completed in the coming months the bank is expected to examine selling off portions of its branch network.