Royal Bank of Canada interested in AIB stake

Royal Bank of Canada is reported to be the bank interested in taking a stake in AIB.

AIB shares were up more than 7% on the Irish Stock Exchange by lunchtime following reports that an unnamed Canadian bank was interested in buying a stake.

It has since emerged that the bank in question is RBC.

The company has reportedly told AIB and the Government that it might be interested in taking a stake after AIB's bad loans are bought up by NAMA.