THE €150 million loss recorded by AIB on the sale of British asset management arm Govett was defended by chairman Dermot Gleeson at the bank's annual general meeting yesterday.

PROFITS at AIB’s Irish and British banking arms drove earnings higher last year, according to the bank’s annual results.

Building group CRH saw it share price rise 15c on Dublin trading today to €15.75 after more positive construction data from the United States.

Allied Irish Bank is to sell the management contracts of Govett, its British asset management business, to Gartmore Investment Management for approximately €20m.