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AIB On Track To Deliver FY Performance In Line With Market View - Quick Facts

Allied Irish Banks plc (ALBK.L, AIBYY.PK) reported that the Group had a strong third-quarter performance and is on track to deliver a full year financial performance in line with market expectations. Sustainable Net Interest Margin increased to 2.50% by the end of third-quarter up from 2.47% in first-half 2017 with stable asset yields and lower funding costs. Taking account of interest income from cured loans, reported Net Interest Margin was 2.57% at the end of third-quarter, up 3bps.

The Bank's fully loaded CET1 ratio at September 2017 increased by 100bps to 17.6%, well in excess of the medium term target of 13%. The Group said the increase was due to a strong operating performance and a reduction in risk weighted assets. On a transitional basis CET1 was 21% and total capital 23.8%.

"The growth in new lending and earning loan balances combined with further reductions in impaired loans are creating a stronger balance sheet and further improving the bank's risk profile. As we approach the end of the three year 870 million euros investment programme, we continue to focus on understanding better our customers' needs, becoming more efficient and sustainably delivering for both our customers and our shareholders," CEO stated.

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