AIB: No plan to sell foreign interests to raise money

AIB’s outgoing chief executive has poured cold water on the bank simply selling off overseas divisions in order to raise further funds for the group.

Addressing the Joint Oireachtas Committee on Finance and Public Service, Eugene Sheehy, who is due to stand down from his role as AIB chief at the end of this month, said that there was “no particular opportunity” to close down any one business and “pump money” back into the Irish operations.

AIB has said relatively recently that it intends to raise around €2 billion in fresh capital in the next year and a half, adding that this could be achieved through a number of options.