Allied Irish Bank (“AIB”) announced last week that it is winding down operations on Jersey and the Isle of Man – and will cease operations in both places on 31st December 2013.
AIB currently has two subsidiaries in these locations, AIB Bank (CI) Limited and AIB International Savings Limited.
The decision to wind-down the business is part of an overall plan to become a smaller, domestically focused bank.
Customers of the subsidiaries will be contacted shortly to discuss future arrangements and will be facilitated with banking services until alternative arrangements are put in place. However, customers can contact the helplines on: 01534 883000 (Jersey) 01624 639639 (Isle of Man) 01624 698000 (AIBISL).
AIB is 99.8% owned by the State. AIB reported an annual loss after tax of €2.3 billion for 2011, down from a loss of over €10 billion in 2010.