AIB Group - Acquires Payzone with JV partner

Davy Research
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While modest from a financial perspective, the acquisition of a majority stake in Payzone demonstrates AIB’s ongoing focus on investing in the payment sector and follows its minority investment in TransferMate in 2017. We estimate earnings accretion of 0.5% on a full year basis, with the consideration equating to c.20bps of CET 1 capital.