Ireland’s AIB (the initials stand for Allied Irish Banks) is small but perfectly formed. Over the years, it has acquired a number of businesses, such as Goodbody Stockbrokers and John Govett asset managers, that have rounded out the full range of its international banking and financial services.
The bank has also been expanding geographically, with obvious effects on its bottom line: more than half its profits are now generated outside Ireland. In the US it acquired 100% of First Maryland Bancorp in 1989 and it was announced earlier this year that it was to acquire US bank Dauphin Deposit Corporation in Pennsylvania for $1.36
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