THE sale by AIB of its Polish unit Bank Zachodni WBK for €2.5 billion has not guaranteed it will avoid falling under state control.

SPANISH bank Banco Santander – Europe’s biggest – is the front runner to buy AIB’s stake in Polish bank Zachodni WBK, in a head-to-head bidding war Poland’s biggest bank PKO BP which could garner €2.5 billion for the troubled Irish bank.

THE state-backed Polish bank PKO BP will place an offer to buy AIB’s 70% stake in Bank Zachodni WBK (BZ WBK) next week, ahead of the end of June deadline.

POLAND’S largest bank PKO BP announced their expansion plans for Britain and Ireland yesterday.