Allied Irish Banks
Allied Irish Banks plc (AIB),(ISEQ: ALBK), LSE: ALBK, NYSE: AIB, (Xetra: AIB) is a commercial bank based in Ireland not to be mistaken for Anglo Irish Bank. AIB is part of the so called Big Four commercial banks in Ireland. Services The bank also offers the full range of corporate banking services. AIB Capital Markets is the division of the company that offers international banking and treasury operations. It offers stockbroking services through its subsidiary Goodbody Stockbrokers. Internationally, AIB operates mainly in the United Kingdom (as Allied Irish Bank (GB)) and Poland (as BZ-WBK). It also owns a 22.5% stake in the United States bank M&T Bank. AIB is part of the Laser debit card system. Name Initially, the bank operated under the names of its former constituent companies, alongside a new AIB logo, a circle divided in three with an "A" at the centre. From 1970, these were replaced by "Allied Irish Banks". In 1990, AIB introduced a new logo (prompted, it was said in some quarters, by the remarkable similarity between its previous logo and that of Mercedes-Benz.). Since then, the bank has preferred to be referred to as simply "AIB", though "Allied Irish Banks plc" remains its legal name. History Allied Irish Banks was formed in 1966, bringing together three distinctive Irish banking traditions. The Provincial Bank, founded in 1825, pioneered branch banking in Ireland. The Royal Bank, established eleven years later, was famous for its mercantile links. The Munster & Leinster, formed in 1885, was the largest of the three banks with the most extensive branch network. An alliance was the best way to overcome the fragmented nature of the Irish banking industry. Ireland in the mid-1960s was changing fast and the merger strengthened the banks’ position in the emerging global business era. Over the decades, AIB has become an increasingly international organisation. The creation of a branch network in Britain in the 1970s was followed by an investment in the USA in the 1980s. In 1983, AIB first invested in First Maryland Bancorp in the USA. In July 1997, AIB acquired Dauphin Deposit Corporation which was merged with First Maryland Bancorp to form Allfirst in 1999. In April 2003, a deal merging AIB’s US subsidiary, Allfirst, with M&T Bank Corporation was completed. AIB now has a 22.5% stake in M&T which is headquartered in Buffalo, New York. In July 1991, the merger of AIB Group's interests in Northern Ireland with those of TSB Northern Ireland created First Trust Bank. AIB invested in the emerging economy of Poland by gradually building a majority shareholding of 60.1% in WBK between 1995 and 1996. In June 1999, AIB reached an agreement with the Polish State Treasury to acquire an 80% shareholding in Bank Zachodni SA. In June 2001, AIB completed a merger of the two banks to create Bank Zachodni WBK. The combined bank is a leading Polish bank in terms of asset size and key product market shares. More than three decades since its formation, AIB is a dynamic and successful organisation. In 1966, AIB's aggregate assets were €323.8 million – as at 31 December 2004, the AIB Group had assets of €102 billion. 1825: Provincial Bank commences operations. It pioneers joint stock branch banking in Ireland and opens a branch in London. Allied Irish Banks plc (AIB),(ISEQ: ALBK), LSE: ALBK, NYSE: AIB, (Xetra: AIB) is irish a commercial bank based in Ireland not to be mistaken for Anglo Irish Bank. AIB is part of the so called Big Four commercial banks in Ireland. allied irish bankServices The bank also offers the full range of corporate banking services. AIB Capital Markets is the division of the company that offers international banking and treasury operations. It offers stockbroking services through its subsidiary Goodbody Stockbrokers. Internationally, AIB operates mainly in the United Kingdom (as Allied Irish Bank (GB)) and Poland (as BZ-WBK). It also owns a 22.5% stake in the United States bank M&T Bank. AIB boston is part of the Laser debit card system. Name Initially, the bank operated under the names of its former constituent companies, alongside a new AIB logo, a circle divided in three with an "A" at the centre. From 1970, these were replaced by "Allied Irish Banks". In 1990, AIB introduced a new logo (prompted, it was said in some quarters, by the remarkable similarity between its previous logo and that of Mercedes-Benz.). Since then, the bank has preferred to be referred to as simply "AIB", though "Allied Irish Banks plc" remains its legal name. History Allied Irish Banks was formed in 1966, bringing together three distinctive Irish banking traditions. The Provincial Bank, founded in 1825, pioneered branch banking in Ireland. The An alliance was the best way to overcome the fragmented nature of the Irish banking industry. Ireland in the mid-1960s was changing fast and the merger strengthened the banks’ position in the emerging global business era. Over the decades, AIB has become an increasingly international organisation. The creation of a branch network in Britain in the 1970s was followed by an investment in the USA in the 1980s. In 1983, AIB first invested in First Maryland Bancorp in the USA. In July 1997, AIB acquired Dauphin Deposit Corporation which was merged with First Maryland Bancorp to form Allfirst in 1999. In April bank 2003, a deal merging AIB’s US subsidiary, Allfirst, with M&T Bank Corporation was completed. AIB now has a 22.5% stake in M&T which is headquartered in Buffalo, New York. In July 1991, the merger of allied AIB Group's interests in Northern Ireland with those of TSB Northern Ireland created First Trust Bank. AIB invested in the emerging economy of Poland by gradually building a majority shareholding of 60.1% in WBK between 1995 and 1996. In June 1999, AIB reached an agreement with the Polish State allied Treasury to acquire an 80% shareholding in Bank Zachodni SA. In June 2001, AIB completed a merger of the two banks to create Bank Zachodni WBK. The combined bank is a leading Polish bank in terms of asset size and key product market shares. More than three decades since its formation, AIB is a dynamic and successful organisation. In 1966, AIB's aggregate assets were €323.8 million – as at 31 December 2004, the AIB Group had assets of €102 billion. 1825: Provincial Bank commences operations. It pioneers joint stock branch banking in Ireland and opens a branch in London. Information provided by Wikipedia. Back to top of Allied Irish Banks |
