Break-up of ING ‘could seriously affect AIB’

THE forced break-up of Dutch banking giant ING at the behest of the European Union could have “serious consequences” for AIB.

Chairman Dan O’Connor said AIB still has to submit its strategic plan for approval to the EU following the €3.5 billion bailout from the Government.

Given the EU’s action on ING, Mr O’Connor said there were grounds for concern about what it could demand of AIB as a condition of its bailout.