AIB confirms approach for minority stake

AIB has confirmed that a third party has made contact with it about taking a minority stake in the bank.

It is being reported that Royal Bank of Canada is the organisation concerned.

AIB says discussions are at a preliminary stage and are not expected to progress until the operation of NAMA becomes clearer.

It is also warning that there is no guarantee that the discussions will lead to a concrete proposal or deal.

AIB shares have risen by 5% today following the news.