AIB to continue non-core asset disposal after Prescient deal

AIB is to continue with the disposal of its non-core assets after receiving regulatory clearance and completing the sale of its assets management business to South African financial group Prescient Holdings yesterday.

An AIB spokesperson said the deal was part of AIB’s continued sale of non-core assets as the bank returns to its role as one of Ireland’s two pillar banks:

The deal with Prescient, which was announced last November, involves the sale of AIB Asset Management Holdings (Ireland) Ltd, including AIB Investment Managers Ltd, to Prescient for an undisclosed sum. The business will be renamed as Prescient Investment Managers (Ireland) Ltd.