Bank of Ireland is selling its fund administration business Bank of Ireland Securities Services to Northern Trust Corporation.
The cash deal, worth up to €60m, is expected to generate about €40m in equity tier 1 capital - a key measure of the bank's capital strength.
Bank of Ireland Securities Services is the fund administration and custody arm of the group. It was founded in 1991 and serviced assets of more than $170 billion at the end of December 2009 for domestic and international clients.
Northern Trust is a US financial institution based in Chicago.
EBS deals raise €132m in capital
EBS Building Society has said it will boost its capital strength by a total of just under €132m after two bond exchange deals.
EBS raised just over €102m through a buy-back of subordinated bonds, which it offered to exchange for cash at discounts of 70%.
It also raised around €29.5m through the purchase by its mortgage subsidiary Haven of certain classes of bonds.
AIB's Polish bank deal to be done by April 1
AIB says it has accepted the tender offer for shares in Poland's Bank Zachodni WBK from Spain's Banco Santander.
As previously announced, the bank says it expects the deal will be completed on April 1.
