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AIB HAS ANNOUNCED pre-tax profits of €437 million for the first half of 2014.
That figure represents a €1.3 billion improvement on the first half of 2013, with the bank saying that their funding and capital positions are “stable and improving”.
The profit comes on the back of a 36% rise in income to €1.25 billion and a drop in expenses of 9%.
In their half yearly statement, released this morning, AIB says that it approved a total of around €5.6 billion in lending in the first half of the year, a 33% increase on the same period in 2013.
Impaired loans have also decreased, by 10% on the end of 2013 and the total number of accounts in arrears in the Irish residential mortgage portfolio declined by 6%.
AIB CEO David Duffy says the bank had achieved its goal of returning to profitability this year.
“AIB has achieved its stated aim of returning to sustainable profitability on a post provision basis in 2014 with our half year results reflecting strong improvements in margins, funding position and capital ratios. The group has demonstrated its capacity to support economic recovery with loan approvals, including the UK, of around €5.6 billion, up 33% year on year.
“Our mortgage arrears and overall levels of impaired loans are reducing and our performance in the first half of the year saw a material reduction in provision charges. As the Irish economy and the bank recovers, we remain focused on growth and maximising value for the Irish State, as 99.8% shareholder, and all other stakeholders over time.”
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Now give back to the tax payer…
The taxpayer owns the bank, the profit the bank makes is profit for the taxpayer
Feck that, bonuses all round for AIB executives I say! A great day for capitalism. Where even the most failed businesses can be saved when given unlimited amounts of taxpayer’s money. All together now “Deutchland Deutchland uber alles…”
Capitalism ? It’s a government owned bank, they call that socialism.
The bonuses make it Capitalism ; the Clearing House will all be jailed under our New Government, and if they run they will find no place to hide !
I’m delighted that the charges they introduced on me to thank me for having my account in the black for 30 years have made such a difference.
Just keep paying your bills, their Bentleys won’t pay for themselves…
About bloody time… Now KENNY it’s time to let the middle income you know the TAX Payers of this country have a break…
Divided by roughly 5 million means we €87 each. Happy days.
I’ll happily take that!
5 million….like feck 5 million pay taxes in this country!
Niamh 5 million people pay VAT just about every time they shop.
Yes neal….but not 5 million pay tax on their monthly wage! They are the ones that bear the brunt of this bailout
So pensioners, businesses and home owners don’t count then?
Neal where do those who don’t pay paye get the money to spend on vat ? oh yeah off those who get out of bed in the morning
Just remember that one day you may depend on social welfare. I assume you hope to live to receive a pension
Oh don’t worry….I work my ass off for my wage and im smart enough not to ever nm leave myself in the position of needing social welfare or rely on a state pension….nice thing to wish someone though! You’re all rainbows and glitter.
With profit like this would we not be better off hanging on to this bank instead of trying to sale it?
Not surprised with all the charges they have ! Why not lower interest rates do some good for a change
This is a good argument for maintaining a state owned bank and ensure that the taxpayer can share the good times as well as the bad times. There should be clear legislation setting out what percentage of profits should go directly to the state and if the EU has a problem with state owned Vs their privatisation obsession we should give them the two fingers on the basis that you can’t have it both ways.
How about no dividends for anyone for a few more years so they can build up their capital. Stress tests are coming.
Cue their bonus….Fat cats just get fatter.
PTSB people.
No charges.
Virtually no branches any more though.
Everyone seems to be back in the black except taxpayer, and it’s getting worse, it’s always for the better of the chosen few
Aib was worse than Anglo and should have being shut down
Work harder minions, pay more and do without, after all these AIB directors need bigger villas and Mercedes.
Worst customer service I have ever encountered
The directors will need a bigger bonus.
One wonders how many evictions, suicides and bankruptcies it to took to achieve a profit of €437 million in the first half of 2014?
A disgrace. But a profitable disgrace!
Can I sell my worthless shares now then or should I wait and see them rise to 5. Cents ?
Hold on until the next property drive.
Ok so can we stop paying USC now and ask the banks to pay their own debts now??
Check out the data here:
http://en.m.wikipedia.org/wiki/List_of_countries_by_external_debt
If the table does not make sense to you then educate yourself & become more informed. The less you know about your country’s financial status and the implications of this situation, the more power will be asserted over you by ruthless government and banking groups.
I’ve been an AIB customer for 10 years now nice to see the boys are the top are making the cheese. I have around €4 in my account at the minute. Only ever pay for things in cash people!!!
Great. That should device national debt rightly ;)
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