Banks to get €375m windfall from sale of Visa

AIB and BoI in line for payday

Visa Europe is to be sold Pic:iStock

AIB and Bank of Ireland are set to scoop nearly €375 million from the sale of their stakes in credit card processor Visa Europe.

The credit card giant is being taken over by its US parent and the deal means its investors, which are made up of more than 3,000 banks across Europe, are in line for windfall gains this summer.

AIB said last week that it would generate one-time gains of close ...