AIB reported a profit after tax of €2,351 million and earnings per share of 92.5%.
Return on equity (RoTE) was 26.7%, with the bank forecasting RoTE in 2025 to be “significantly above” its medium-term target of 15%.
The bank's total revenue increased by 4% to EUR 4,908 million, with net interest income amounting to EUR 4,129 million and other income amounting to EUR 779 million.
AIB Chief Executive Colin Hunt said: “I am pleased to report that AIB has once again delivered a very strong performance in 2024, delivering a profit after tax of €2.35 billion, a return on equity of 26.7% and total returns to shareholders of €1.5 billion.
2.6 billion euros.
“Against the backdrop of a stable economic environment, new lending increased by 17% to EUR 14.5 billion and the loan portfolio grew by 6% to EUR 71.2 billion. We continued to expand the Group's range of products and services and increased our customer base to a record 3.35 million.
“The group's share register continues to normalise and, with the state now holding 12.39%, there is a clear plan to return to full private ownership this year. To date, the group has returned €18.5 billion to the state, of which €4.4 billion has been returned since January 2024.
“In addition, negotiations are underway with the Ministry of Finance on an additional targeted share buyback worth 1.2 billion euros.”
Backing the transition to a “greener future”, Hunt said €16.6 billion of the €30 billion AIB Climate Action Fund had been used since 2019, with new green lending set to total €5.1 billion in 2024, representing 35% of the total new lending of €14.5 billion.
“We also recorded strong results in new mortgage lending, providing €2.8 billion to support 10,000 first-time home buyers.
“As we evolve our strategy and support our growing customer base, we take into account the uncertainty of the external environment.
“However, we remain confident in the strong fundamentals of our business and our ability to make a positive contribution to the Irish economy, helping to create a more sustainable future for our customers and delivering sustainable returns for our shareholders.”
Sourse: breakingnews.ie
