AIB dismisses Allfirst sale rumours
Allied Irish Banks has dismissed rumours it's planning to sell the American subsidiary at the centre of multi-million dollar fraud allegations.
Executives insist AIB has "no intention" of disposing of Baltimore-based Allfirst Financial.
They point to AIB's good track record in the US before recent events, and say that what happened will not prevent it making other acquisitions in the region.
Chief executive Michael Buckley denies there have been any takeover bids for AIB following the discovery of the suspected fraud.
He has also ruled out any top-level changes at AIB ahead of an investigation of the alleged fraud at Allfirst, currently being carried out by leading American banker Eugene Ludwig.
Mr Buckley points out that takeover speculation had preceded the "regrettable and very serious" affair at the American subsidiary.
He says AIB has sustained no "significant erosion" in its deposit base after the alleged fraud was uncovered, and strong business momentum is anticipated for the rest of the year.
