#SAILING CLUBS - Sailing enthusiasts on AIB's staff have taken a blow to the wallet as the bank is to stop paying club membership fees for employees, the Irish Independent reports.

In an e-mail seen by the paper, AIB head of human resources John Conway said the cuts - which came into effect on 1 January - were the result of a review of benefit structures within the bank, which is dealing with "ongoing problems".

The change brings to an end two benefits-in-kind that had been considered significant attractions for new employees, the other being special lending rates for staff members.

Up till the end of 2011, AIB covered 50% of club membership fees up to €1,250 for rank and file employees, and 100% of fees up to €2,500 for management. Bank of Ireland staff continue to receive similar perks.

The moves comes not long after the Irish Sailing Association's announcement of proposals to revise its sailing club membership fee structure.

As previously reported on Afloat.ie, the ISA will convene an EGM next month to discuss changes to the 'joint membership scheme' in favour of a "single fee formula that is proportionate to a club's membership subscription income".

The Irish Independent has more on the story HERE.

Bank of Ireland's €1.4 billion shipping loan and maritime business is now being targeted by potential buyers. 

The Sunday Independent reports that Spanish banking group Santander is interested in "cherry-picking" prime assets from Ireland's faltering financial institutions.

Santander has already paid almost €3 billion for AIB's Polish interest Banco Zachnodi, and now senior bankers believe it may be interested in buying parts of AIB and other Irish bank assets - including BoI's lucrative maritime loans business.

Credit Agricole and Banque Nationale de Paris (BNP) have also shown keenness in Irish assets, though it is thought their interest has cooled due to poor prospect for Ireland's economy.

The Sunday Independent has more on the story HERE.