AIB has hired international boutique investment bank Alantra to sell its almost £1 billion (1.16 billion) British small- to medium-sized business loan book as part of a cost-cutting drive announced late last year, according to sources.
Alantra has also been asked to find a buyer for some £2.8 billion of deposits associated with SME customers on the other side of the Irish Sea, though it may struggle to sell these, given how lenders globally are grappling with excess levels of customer savings.
AIB chief executive Colin Hunt told analysts last Friday, as the group reported full-year figures, that advisers had been contracted to sell the British SME portfolio. He did not identify the firm involved.
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