Regulators approve Allfirst purchase

The US bank will complete the acquisition on April 1, at which point a written agreement that AIB and Allfirst entered into with their respective banking regulators on May 16 will be terminated, said a spokesperson for AIB in Dublin.

The contract was drawn up to outline steps to meet the regulations of the Irish central bank, he said. Actions included improvements to management oversight, day-to-day risk management, internal controls, audit standards, management information systems and polic