Wednesday May 27, 2020

EU launches AIB probe after complaint by Davy

The EU is investigating allegations that AIB misused state aid by attaching conditions to a major loan deal with Greencore that benefited Goodbody, the bank’s stockbroking subsidiary.

22nd May, 2010

The EU is investigating allegations that AIB misused state aid by attaching conditions to a major loan deal with Greencore that benefited Goodbody, the bank’s stockbroking subsidiary.

The European Commission received a formal complaint from stockbroking firm Davy Stockbrokers, which alleged that AIB unfairly distorted competition in the Irish stockbroking market through Goodbody. The complaint centres on a loan deal late last year involving Greencore.

Davy alleged that, when Greencore sought to refinance...

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