AIB has signed a deal to sell its Polish property fund management subsidiary, AIB PPM to Peakside Capital, the bank confirmed today.

It will also sell Guernsey subsidiary AIB Holdings Limited to Peakside, and dispose of its 9.87 per cent interest in Polonia Property Fund LP and 7.5 per cent interest in Polonia Property Fund II Limited, to Peakside Capital and Partners Group.

The value of the deal was not disclosed, and AIB said its impact on the bank's capital position was not material