Allied Irish Banks Plc (AIBYY.PK,ALBK.L) reported 2011 pre-tax loss of 5.11 billion euros, narrower than 12.07 billion euros last year.
Loss attributable to owners was 2.31 billion euros versus a loss of 10.23 billion euros a year ago. On a per share basis, loss narrowed to 0.9 cents from the prior year's 564.0 cents.
Loss per share from continuing operations was 1.6 cents versus loss per share of 571.1 cents in the preceding year.
Net interest income declined to 1.35 billion euros from 1.84 billion euros last year, due to higher Eligible Liabilities Guarantee scheme costs, margin compression and reduced interest earning loan volumes. Net interest margin declined to 1.03% in 2011 from 1.31% in 2010.
Looking ahead, the company's plan to return to profitability by 2014 remains on target.
by RTT Staff Writer
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