Every time Bank of Ireland steps back from foreign expansion, AIB seems to emphasise the difference between them by making a further international play.

While AIB's purchase of an 80 per cent stake in Polish banking group Bank Zachodni for £443.7 million (563.4 million) was not a surprise, it contrasted sharply with Bank of Ireland's failure to agree a deal with Alliance & Leicester.

The move consolidates AIB's position in Poland, although it has no plans to merge the new acquisition with WBK Bank which it already owns. The purchase of WBK by AIB came at a time when its rival was pulling in its horns after a challenging investment in the US banking sector.