Management and unions at ACCBank have agreed to set up a joint internal committee to consider the bank's likely sell-off.

At the same time, arrangements for the sale by tender of ICC Bank are well advanced and are expected to be completed within weeks.

While the move at ACC could be seen as an attempt to find some common ground between the parties, which differ fundamentally on the future direction of the bank, union sources were adamant yesterday they had given no commitment to discuss options other than the merger of ACC with the TSB Bank.