Plus   Neg

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.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
A former Southwest Airlines employee has filed a racial discrimination lawsuit against the airline, alleging that the carrier allowed its employees to create a "whites-only" breakroom. The lawsuit was filed in the United States District Court in Houston earlier this week by Jamel Parker, a former employee of Southwest Airlines. American Airlines Inc. has joined its major rivals in raising baggage fees as the airline industry grapples with higher fuel costs and rising operating expenses. The largest U.S. airline said Thursday it is raising the price of a first and second checked bag by $5 each. The price of a first checked bag is now $30, while it is $40 for a second checked bag. The takeover battle by Comcast Corp. nd Rupert Murdoch's 21st Century Fox Inc. for British broadcaster Sky plc will be settled through an auction. The UK Takeover Panel said Thursday that an auction procedure is expected to commence on the evening of Friday, September 21, 2018 and end on the evening of September 22, 2018. The winner of the auction will be announced on Saturday.
Follow RTT