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AIB proposes operations split as Central Bank reviews plans for bank restructuring

The proposals form part of final plans for financial restructuring of Irish banks that have been submitted to the Central Bank.

Image: Julien Behal/PA Wire

AIB IS PROPOSING to split itself into two banks as part of plans that have been submitted to the Central Bank.

Restructuring of the financial sector will be a key part of the agenda for the next government with the Central Bank currently examining final proposals from the main banking groups to reduce their balance sheets, reports the Sunday Business Post.

Among the plans is AIB’s proposal to split its operations into core and non-core elements with a view to selling off the non-core assets over a number of years.

Similar plans have been used by other banks internationally during the course of the financial crisis including RBS in the UK and Citibank in the US.

Read more from Cliff Taylor in today’s Sunday Business Post >

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Hugh O'Connell

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