Allied Irish Bank has announced plans to shut down two of its offshore businesses in Jersey and the Isle of Man following the news the bank will close AIB Bank and AIB International Savings (AIBIS).
While the winding down of the two businesses begins immediately, the operations on the offshore islands will finally close by the end of next year, 2013. AIB said that the decisions were made as part of the Bank’s ongoing strategic review being undertaken and fits in with the overall aim to become a “smaller, domestically focussed bank.” The number of people employed by AIB in both offshore subsidiaries totals 170 - 114 on the Isle of Man and 56 on Jersey. A spokesperson for AIB said that it was in consultation with affected staff and that no final decisions concerning staffing will be m...
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