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 Post subject: Re: The AIB thread
PostPosted: Sun Mar 04, 2018 8:49 pm 
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Old Time Landlord

Joined: Sep 9, 2017
Posts: 359
Somewhat forgotten about in the snow, but another set of whopper results last week, this time from AIB:

Quote:
Earlier, AIB reported profits before tax and exceptionals of €1.6 billion for the year to the end of December after what it called a "pivotal year" for the bank.

In its first set of annual results since the Government sold a 29% stake in Europe's largest initial public offering last year, AIB proposed dividend payments at 12 cent per share, totalling €326m.

That compared to a €250m payment made to the Government a year ago when the then 99.9% state-owned bank became the first Irish lender to restart dividend payments since the financial crisis.

AIB said the level of impaired loans at the bank fell by €2.8 billion to €6.3 billion, which it said marked a 78% decrease since 2013.

https://www.rte.ie/news/business/2018/0301/944324-aib-annual-results/

Roughly the same profit was made by a larger AIB in 2005:
Quote:
AIB's 2005 pre-tax profits hit €1.7 billion
AIB has reported pre-tax profits of €1.706 billion for 2005, up from €1.37 billion in 2004. The bank, the country's largest listed company, said strong demand was underpinning a confident outlook for 2006 and beyond.

The bank's profits in the Republic rose by 24% to €779m, though growth was 15% when the effect of the 2004 investigation into foreign exchange charges was stripped out.

Profits at its UK and Northern Ireland business rose by 18%, while profits at its Polish operations were up 13%. Adjusted basic earnings per share rose by 15% to 145.9 cent.


https://www.rte.ie/news/business/2006/0222/73304-aib/

Unsustainable then, but barely note worthy today. Has it melted with you?

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 Post subject: Re: The AIB thread
PostPosted: Fri Apr 06, 2018 1:43 pm 
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Too Big to Fail

Joined: Aug 8, 2008
Posts: 3646
Location: Cathair na dTreabh
AIB tweets:
All our Dublin branches are open on Saturdays in April from 10am to 4pm for Mortgage Meetings. Drop in and meet our dedicated mortgage advisers


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 Post subject: Re: The AIB thread
PostPosted: Sat Apr 07, 2018 1:57 pm 
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Joined: Apr 1, 2010
Posts: 10928
temene wrote:
AIB tweets:
All our Dublin branches are open on Saturdays in April from 10am to 4pm for Mortgage Meetings. Drop in and meet our dedicated mortgage advisers

I keep seeing their schmaltzy ads showing couples "on the last day of their mortgage", talking about their struggles over the years and how it was all worth it, with the tag line "We back belief every day". Seems a bit incongruous from the institutions that nearly wrecked the country. :evil:


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 Post subject: Re: The AIB thread
PostPosted: Fri Jul 27, 2018 12:47 pm 
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Old Time Landlord

Joined: Sep 9, 2017
Posts: 359
Quote:
AIB reports steady half yearly profits and lower bad loans
AIB has today reported steady first-half profits, lower bad loans and higher lending and capital as it continues to recover a decade after the country's banking crash.
The lender said its pre-tax profits for the six months to the end of June came to €762m, up marginally from the €761m reported the same time last year. 
It said its business performance was in line with market expectations.
AIB said it was entering the final stages of the tracker mortgage examination with payments issued to the vast majority of customers. It said the rest of the payments will be completed by the end of September. 
"We know that issues may continue to emerge and we are committed to dealing with them in a transparent and fair way for our customers," the bank said. 
AIB said efforts to reduce the level of non-performing loans on its books also continued with a 27% reduction from €10.2 billion - or 16% gross loans - to €7.5 billion - or 12% gross loans.
A portfolio of non-performing loans worth €1.1 billion and characterised by "deep arrears" was sold in the first half of the year to Cerberus, resulting in a gain of €140m. 

https://www.rte.ie/news/business/2018/0727/981364-aib-half-year-results/

Running at €1.5bn a year profit now. Question is when to fold on the remaining shares. NTMA chief advises to move out now.

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