Spanish bank Santander has reached a €305m deal to acquire a majority stake in the Polish business of Deutsche Bank. The acquisition – made through the Spanish bank’s Polish arm, Bank Zachodni WBK (BZ WBK) – includes some €4.4bn in assets, as well as Deutsche Bank’s Polska’s 113 branches and roughly 1,500 employees. However, it […]
Allied Irish Banks (AIB) has announced pre-tax losses of over €12bn for 2010, plunging €9.4bn deeper into the red compared with the previous year as it continues to pay the price of bad loans made to property developers leading up to the financial crisis.
Allied Irish Banks (AIB) is the first of Ireland’s five main banks to dump banking and asset management stakes in a capital raising effort, after it emerged the banks need to find an extra €24bn of funding.