AIB makes profit of €437 million as bad loans tumble

irishtimes.com/business/sect … -1.1882483

No CT payable either for c. 20 years as they can carry over their colossal losses until discharged

Provisions of EUR 92m?! This reminds me of Anglo’s 2008 results

Didn’t the CBI claim there was an IO “cliff” on the way?

I remember being at a talk in 08 or 09. The speaker stated that banks were not allowed (or was it didn’t have to, so as you can guess don’t) provision for events that have yet to happen even if they are foreseeble

Was the above the case (or did I imagine it XD ) and if so is it still the case

No an increase in provisions of 92m, i.e. that’s what was expensed in the period.** (we have this everytime)**

AIB CEO on The Last Word earlier this eve was talking about arrears and how they were falling. He said AIB would write off debt in cases where it was clear the money could never be repaid. He also said it was 1 of AIB’s main policy to ‘keep people in their homes’.

We have the most ‘social’ banks in the world!

Pah ! I’d say €437m equates to about the shortfall that will be crystallised on realising the secured assets 1000 minor buy to let emperors’ loans.

A guy only needs to have 2/3 apartments in sandyford to be €0.5m in the hole, and arrears on top of that.