AIB managing director Colm Doherty said the lender is "on target" to raise capital to meet new requirements set by Ireland's financial regulator.
"I can assure you that we are making progress in relation to our asset sales which form the first part of our recapitalisation plan," Mr Doherty said in an e-mail sent to employees yesterday, which was seen by Bloomberg News.
"We are on target to implement all parts of the plan before the end of the year."
AIB is selling stakes in banks in the US and Poland to help raise €7.4 billion in new capital. The bank must dispose of the assets in order to reach the regulator's target within the set timeframe, Mr Doherty said in the e-mail.
The managing director also said the plans mean Allied Irish will be a "smaller organisation", though he said no final decision on possible job cuts had been made.
Bloomberg