AIB has denied reports that its Polish associate, WBK Bank, is set to buy two other banks in Poland. AIB's managing director of European Investments, Mr David McCrossan, said yesterday that weekend reports claiming AIB had sanctioned the purchase of the Polish Investment Bank and Prosper Bank were inaccurate.

"WBK could have a possible interest in the Polish Investment Bank. We have, along with other financial institutions, put our name in the pot as a possible bidder, but discussions are still at a very early stage," he said. AIB recently raised its stake in WBK to 36.3 per cent.