Allied Irish Banks, p.l.c.
NYSE : AIB

May 16, 2011 11:15 ET

AIB - the proposed sale of a 49.99% interest in Bulgarian-American Credit Bank AD to CSIF AD

DUBLIN 4, IRELAND--(Marketwire - May 16, 2011) -



For Immediate Release 16(th) May 2011




AIB - the proposed sale of a 49.99% interest in Bulgarian-American Credit Bank AD to CSIF AD


Allied Irish Banks, p.l.c. ("AIB") [NYSE:AIB] today announces that it has signed an agreement to sell its 49.99% shareholding in Bulgarian-American Credit Bank AD ("BACB") to CSIF AD ("CSIF") for an undisclosed amount. Completion of the transaction is conditional upon CSIF obtaining Bulgarian regulatory approvals and the transaction will have no material impact on AIB's capital position.

BACB is a publicly listed bank based in Sofia, Bulgaria, focused on small to medium sized enterprises. As at 31 December 2010, BACB reported consolidated total assets of EUR375.9 million and shareholders' equity of EUR96.6 million.


- ENDS -


This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Allied Irish Banks, p.l.c. via Thomson Reuters ONE

[HUG#1516319]

Contact Information

  • For further information, please contact:
    Alan Kelly
    General Manager, Corporate Services


    AIB Group

    Dublin

    Tel: ?1-6412162

    email: Email Contact

    Catherine Burke
    Head of Corporate Relations and Communications
    AIB Group

    Dublin
    Tel: ?1-6413894
    email: Email Contact