Election may doom lifting of salary cap as highly profitable lender surpasses IPO price for first time in over five years
Colin Hunt
Bank’s net profit surges more 170% to more than €2bn as it records strongest financial performance in its history
AIB due to publish annual results on Wednesday, with analysts expecting chief executive to announce use of some surplus capital to buy more shares back from State
AIB has paid out €594 million over the past two years by way of dividends and buying back some of the State’s shares – or what are known as directed buy-backs
Lender now expects its net interest income to top €3.75bn, €150m higher than its previous guidance
Ex-Tesco executive was previously bank’s chief people officer
Lenders yet to see any falloff in asset quality
AIB and Bank of Ireland are making more from the €60bn parked with the Central Bank than from mortgages
Lender raises full year net interest income forecast
Shares in AIB have surged by almost 75% since the State started to sell down shares in the bank at the start of last year
Original figure stood at €180 million when venture was announced two years ago
Bank net interest income soars as it gets high returns on excess savings even while raising lending rates modestly
Taoiseach Leo Varadkar signals move on restoring relief to mortgage holders shouldering increased borrowing costs will be considered by Government
Bank is ‘deeply conscious’ of its obligations to ‘broad array of customers’, said chief executive Colin Hunt
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