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IRISH BANK AIB has announced that it intends to distribute €1.7 billion to shareholders after reporting a post-tax profit of over €2 billion.
As interest rates rose, AIB’s net interest income rose from just over €2 billion in 2022 to €3.8 billion last year – a jump of 83% – due to the “changed interest rate environment and higher average customer loan volumes”.
The bank recorded a customer base of 3.3 million in 2023, compared to 2.8 million in 2020. During that time, as Ulster Bank pulled out of the Irish market, AIB acquired €6.8 billion worth of Ulster Bank’s loan books, with another €1 billion due this year.
AIB has today published its annual financial results for 2023, describing it as a “landmark year”.
CEO Colin Hunt called the 2023 results an “exceptionally strong financial performance”.
“During 2023, the Group returned to majority private ownership and we are keen to return further capital to the State with proposed distributions of c. €1.3 billion, including a €1 billion directed share buyback for which discussions are underway,” he said.
The bank said its operating costs increased 10% to €1.8 billion.
It attributed the increase in costs to “the impacts of wage and general inflation, an allowance for limited variable remuneration payable in 2024 (following the relaxation of some pay constraints) and increased cost to service an enlarged Group and customer base”.
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Great technology and fantastic to see this in Ireland. How is it being financed ? I see Journal and Journalist bashing busy again here. A strong press is one of the bulwarks against totalitarianism. The weakening of the press is the weakening of democracy and a civilised society.
@On the Up:
Good question! Free service, seemingly.
@On the Up: it’s financed through the industry… but at least you got an excuse to throw a few big words in.
@On the Up: why only now though.all the same great new great technology.
How about not been able to turn off the location tracking from the flight deck. Its bonkers that Google can tell me exactly where I have been been but not planes. Seriously how has this not been fixed yet. Guess there is no extra charge the airlines can come up with for it.
@Vincent #SaveDaredevil: google doesn’t know where you were, it knows where your phone was.
@Pilib: Unless you tow your phone behind you on a 200m rope, then it amounts to the same thing.
@Vincent #SaveDaredevil: Maybe because that’s not how location tracking works on planes? (Nor on your phone when you’re flying 35k feet above the sea, for that matter)
@PedroB: or maybe just turn off location permission on your device from your own cockpit! Then google couldn’t find you either.
Is there a big dial showing how long is ‘A long long way from Clare to here’ in each case?
Very proud that Ireland are hosting / providing this service.
super and long overdue i guess…
Flight radar was good
Nice one
So that’s what those kites are for…
Must be a new day the journal hacks are starting to wake up with cheap storys as usual nothing changes here ha
@Liam Ward: What are you on about? I find this story very interesting, being interested in aviation and all that. Go back to bed.
Born in Australia to Hungarian parents represented Australia until 2012 then switched to representing another country seems almost as bad if not worse than situation in international soccer.
have your say