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AIB (NI) (formerly known as First Trust Bank) is a
commercial bank A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit. It can also refer to a bank or a division of a larger bank that deals with whol ...
in
Northern Ireland Northern Ireland ( ; ) is a Countries of the United Kingdom, part of the United Kingdom in the north-east of the island of Ireland. It has been #Descriptions, variously described as a country, province or region. Northern Ireland shares Repub ...
that is part of
Allied Irish Banks Allied Irish Banks, p.l.c. is one of the so-called Big Four (banking)#Ireland, Big Four commercial banks in the Republic of Ireland. AIB offers a full range of personal, business and corporate banking services. The bank also offers a range of ge ...
's UK subsidiary AIB Group (UK) plc. It is one of the Big Four banks in Ireland. The bank was created in 1991 when '' TSB Northern Ireland'' merged with the AIB Group's other interests. The bank can trace its existence back to 1816 with the founding of the ''Belfast Savings Bank''. The bank was one of the four banks that issued
Pound Sterling Sterling (symbol: £; currency code: GBP) is the currency of the United Kingdom and nine of its associated territories. The pound is the main unit of sterling, and the word '' pound'' is also used to refer to the British currency general ...
banknotes A banknote or bank notealso called a bill (North American English) or simply a noteis a type of paper money that is made and distributed ("issued") by a bank of issue, payable to the bearer on demand. Banknotes were originally issued by commer ...
in Northern Ireland until February 2019; First Trust notes are no longer legal currency since 30 June 2022. Allied Irish Banks confirmed plans to sell off the bank in April 2010 as part of plans to raise capital, however these plans were subsequently shelved and instead the bank announced investment plans starting in 2014. The bank traded as First Trust Bank in Northern Ireland until November 2019.


Banking services

Allied Irish Banks' UK division, with total assets of €15.1 billion (approx £10 billion),AIB Investor Relations
/ref> operates in two distinct markets,
Northern Ireland Northern Ireland ( ; ) is a Countries of the United Kingdom, part of the United Kingdom in the north-east of the island of Ireland. It has been #Descriptions, variously described as a country, province or region. Northern Ireland shares Repub ...
and Great Britain (where it operates as Allied Irish Bank (GB)), with different economies and operating environments. AIB Group (UK) p.l.c., registered in the UK and regulated by the
Financial Conduct Authority The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom. It operates independently of the UK Government and is financed by charging fees to members of the financial services industry. The FCA regulates financi ...
and the Prudential Regulation Authority, operates as the legal entity for the division.


Banknotes

In common with the other Big Four banks of Northern Ireland, First Trust Bank retained the right to issue its own banknotes, though production ceased on 30 June 2020. These are
pound sterling Sterling (symbol: £; currency code: GBP) is the currency of the United Kingdom and nine of its associated territories. The pound is the main unit of sterling, and the word '' pound'' is also used to refer to the British currency general ...
notes backed by their value in Bank of England notes, and should not be confused with banknotes of the former
Irish pound The pound ( Irish: ) was the currency of Ireland until 2002. Its ISO 4217 code was IEP, and the symbol was £ (or £Ir for distinction.) The Irish pound was replaced by the euro on 1 January 1999. Euro currency did not begin circulation unti ...
. Earlier note issues by the bank were made under the bank's previous names: the Provincial Bank of Ireland Ltd. (to 1976), Allied Irish Banks Ltd. (1977–1986), and Allied Irish Banks PLC (1987–1993). First Trust Bank's final issue of notes depicted two generic people, one male, one female. They appear as children on the £1 and £5 notes, as middle-aged on the £10 and £20, and finally as elderly on the £50 and £100. The obverse designs generally feature images associated with the
Spanish Armada The Spanish Armada (often known as Invincible Armada, or the Enterprise of England, ) was a Spanish fleet that sailed from Lisbon in late May 1588, commanded by Alonso de Guzmán, Duke of Medina Sidonia, an aristocrat without previous naval ...
, commemorating the wrecking of 24 Armada ships off the coast of
County Antrim County Antrim (named after the town of Antrim, County Antrim, Antrim, ) is one of the six counties of Northern Ireland, located within the historic Provinces of Ireland, province of Ulster. Adjoined to the north-east shore of Lough Neagh, the c ...
in 1588: * 10 pound note featuring the ship ''
Girona Girona (; ) is the capital city of the Province of Girona in the autonomous community of Catalonia, Spain, at the confluence of the Ter, Onyar, Galligants, and Güell rivers. The city had an official population of 106,476 in 2024, but the p ...
'' * 20 pound note featuring the chimney at Lacada Point,
Giant's Causeway The Giant's Causeway () is an area of approximately 40,000 interlocking basalt columns, the result of an ancient volcano, volcanic fissure eruption, part of the North Atlantic Igneous Province active in the region during the Paleogene period. ...
, near Dunluce, County Antrim, where the Girona was wrecked. * 50 pound note featuring a commemorative medal * 100 pound note featuring the Spanish Armada A £5 note featuring Dunluce Castle on the obverse and a £1 note also featuring the Girona were issued by the Provincial Bank of Ireland and by AIB, but have not been issued by First Trust Bank. In February 2019, First Trust Bank ceased issuing its own banknotes in circulation and replaced them with Bank of England banknotes as they are withdrawn from circulation. First Trust Bank notes could continue to be used until 30 June 2022, after which time they ceased to be legal currency but can still be paid into bank accounts, or exchanged for Bank of England notes at branches of AIB (NI).


See also

* Allied Irish Bank (GB) *
Trustee Savings Bank The Trustee Savings Bank (TSB) was a British financial institution that operated between 1810 and 1995 when it was merged with Lloyds Bank (historic), Lloyds Bank. Trustee savings banks originated to accept savings deposits from those with mode ...
* Permanent TSB


References


External links


Official site
{{Banknotes of the pound sterling Allied Irish Banks Banks of Northern Ireland Banks of Ireland First Trust Banks established in 1991 1991 establishments in Northern Ireland Irish brands