AIB to name preferred bidder for Polish bank

AIB is expected to receive final bids for its 70% stake in Polish financial institution Bank Zachodni by the end of today, with reports suggesting the Irish bank will settle on a preferred bidder sometime next week.

Differing reports on the progress being made on the sale are emanating on a daily basis, not helped by AIB remaining tight-lipped on its foreign disposals programme, which also includes the sale of its 22% stake in US bank M&T.

However, it is thought that Poland’s PKO Bank Polski, Spanish banking giant Santander, and France’s BNP Paribas are set to bid for AIB’s controlling interest in Zachodni.