AIB under pressure to sell overseas assets

AIB is under pressure to sell off its prized US, British and Polish assets as the Government anticipates it could become a majority stakeholder in the bank.

It has been estimated AIB will need an extra €7.4 billion of equity capital while Bank of Ireland will need €2.7bn.

As a result AIB, which is now the country’s second biggest bank, is planning to sell its British business, its interest in Polish bank BZWBK and its 25% stake in US bank M&T.