Thursday July 9, 2020

Consolidation hopes to be hit by AIB stance

Significant doubts have been raised over the government’s plans to use the new €440 billion guarantee framework as a mechanism to encourage consolidation in the banking sector after AIB ruled out acquiring other Irish banks and building societies in

8th November, 2008

Significant doubts have been raised over the government’s plans to use the new €440 billion guarantee framework as a mechanism to encourage consolidation in the banking sector after AIB ruled out acquiring other Irish banks and building societies in the coming months.

Eugene Sheehy, chief executive of AIB, said last week that the bank would instead concentrate on ensuring it managed its existing businesses appropriately through the current market turmoil.

He said AIB...

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