Bank says NAMA key to restoring confidence

AIB shareholders – who, yesterday, voted unanimously in favour of their bank participating in the National Asset Management Agency (NAMA) in the new year – have been told that selling assets to the Government’s “bad bank” project is a key step in restoring confidence to the company.

“We have considered the viability of alternatives to participation in NAMA. In its absence, the company would need to put in place additional term funding and raise further capital.

“Such capital would need to be put in place prior to mid-January when the application to participate in NAMA should be made.