AIB to close four international offices

AIB is closing four international corporate banking offices in a move that will affect 26 jobs.

The bank said that following a strategic review of its corporate banking businesses and “in light of the global economic climate” it has decided to “adjust its focus” in its overseas offices.

Over the next few months it will be withdrawing from Sydney, Houston in Texas, Leeds, and Edinburgh.

These moves will mean that AIB will no longer have a presence in these locations.

The bank said that all of the properties in these locations were leaseholds.

“The impact on customers will be minimal and they will continue to be serviced by AIB capital market’s core corporate banking teams in Ireland, the UK and the US,” the bank said in a statement.

It also said that where possible, staff affected will be offered positions at other AIB capital markets locations.

In Sydney, 16 jobs will be affected, three in Houston, three in Edinburgh and four in Leeds.

On the capital markets side the bank will continue to have a presence in London, Birmingham, Manchester, Frankfurt, Paris, New York and LA.

AIB shares closed down almost 2.6% yesterday to €1.50.