Early bank sale cost AIB €850m

AIB would have made another €850m at current market value if it had been able to hold off selling its 70% majority shareholding in Poland’s Bank Zachodni until now.

AIB ended its 15-year presence in Poland when it sold its 70% stake in Bank Zachodni to Spain’s Banco Santander for around €3bn in 2010 in order to raise more capital.

At the Polish bank’s current market value, AIB’s shareholding would be worth around €3.85bn.