Sunday 25 September 2016

AIB eyeing tech investments and joint ventures with third parties for new era banking

Published 08/09/2016 | 13:57

AIB chief executive Bernard Byrne
AIB chief executive Bernard Byrne

AIB is eyeing technology investments and joint ventures with third parties to help position itself for a new era in banking, chief executive Bernard Byrne has said.

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The head of the country's biggest lender said the bank will need to be capable of investing in new technologies, and new sectors and also to have the capacity to enter joint ventures with new partners.

Such moves will dominate a new phase for the bank of positioning itself for a future characterised by disruptive new technologies, he said.

Those requirements will be in the minds of new owners of the nationalised bank, he added in a speech at a meeting of the Leinster Society of Chartered Accountants.

The AIB chief executive provided no update on the timing of long delayed sale of shares in the bank, which is a matter for Government, he said.

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