DUBLIN, Ireland, Sept. 15, 2003 (PRIMEZONE) -- Allied Irish Banks, p.l.c. ("AIB") (NYSE:AIB) has today announced that it has agreed to sell its New York Retail Branch at 405 Park Avenue to Atlantic Bank of New York. The AIB Retail Branch includes consumer and small business deposits and loans. Atlantic Bank will commence the provision of full banking services from the existing branch location following the appropriate regulatory approvals.
AIB will continue to provide lending, treasury and advisory services to the Not-for-Profit and Corporate sectors from its own offices throughout the U.S., including New York, Philadelphia, Atlanta, Chicago and Los Angeles. AIB previously announced its intention to sell its New York Retail Branch to M&T Bank Corporation ("M&T") but it was mutually agreed not to proceed with this transaction.