AIB chief David Hodgkinson

AIB lost out on nearly €14m in dividend payments last month after being forced to put its 22.5% stake in New York's M&T Bank on the market in October.

M&T, one of the most successful regional banks in the US, paid a quarterly dividend of $0.70 per share on the last day of the year. But AIB had to sell its 26.7 million shares just weeks before the ownership cut-off date to help raise part of the €10.4bn in capital it needed by the end of 2010.

The move means AIB will miss out on at least €55m in dividends this year too. AIB's share of M&T's after-tax profit in 2009 was €44m.

The bank is still awaiting approval from the Polish regulator on the sale of BZ WBK, its Polish subsidiary, to Spanish bank Santander. The sale, which was agreed last September, will add €2.5bn to AIB's capital.

Last month the government had to put €3.7bn into AIB to keep the bank from breaching statutory minimum capital requirements.

The extra capital brought the state's nominal ownership to 92.8%, but until the BZ sale is finalised, voting shares remain at 49.9%.

AIB will announce the results this week of its exchange offer on €4bn of junior bonds.

A strong take-up on the heavily discounted securities could see a significant reduction in the remaining €6.1bn the bank has to raise by the end of February to meet the Central Bank's new 12% capital minimum.