2nd March 2010
07:00

Key Information - AIB Group annual results 2009

Profitability(1)
Operating profit before provisions of € 2,962 million
- Underlying operating profit before provisions of € 2,339 million, down 7%
Loss for the period € 2,334 million
AIB Bank ROI loss of € 3,594 million; operating profit before provisions, down 25%
Capital Markets profit of € 531 million down 7%; operating profit before provisions, up 23%
AIB Bank UK loss of £ 15 million; operating profit before provisions, up 4%
Poland profit of Pln 854 million down 8%; operating profit before provisions, up 6%(2)
M&T US$ contribution down 56%; impairment charge of € 200 million taken against investment

Efficiency
Costs reduction of 15%; 8% lower excluding retirement benefits amendment
Income/cost growth rate gap +4%(3)
Cost income ratio down to 44.8%(4) (39.0% headline) from 46.5% in 2008

Asset quality
Criticised loans at 29.4% of total loans
Impaired loans at 13.5% of total loans
Provision charge of € 5.35 billion or 4.05% of average customer loans

Earnings per share(5)

Basic loss per share	EUR (215.2c)
less gain on redemption of capital instruments	EUR (130.2c)
less profit on disposal/development of property	EUR (2.0c)
adjust for interest rate hedge volatility	EUR 3.0c
Adjusted basic loss per share	EUR (344.4c)

Balance sheet funding
Customer funding 51% of our balance sheet requirement
Loan deposit ratio of 146%, 156% at 30 June 2009, 140% at 31 December 2008

 

Capital ratios	31/12/09
Equity core tier 1 ratio(6)	5.0%
Core tier 1 ratio	7.9%
Tier 1 ratio	7.2%
Total capital ratio	10.2%

 

(1)The percentage changes are compared to 2008 and are on an underlying basis excluding the impact of exchange rate movements on the translation of foreign locations’ profit, the impact of interest rate hedge volatility and the element of the gain (€ 623 million) recorded in the income statement on redemption of subordinated liabilities completed in June 2009.
(2)CEE division operating profit before provisions was up 17%. In addition to the 6% increase in Poland operating profit before provisions, AmCredit made a loss before provisions of € 24 million in 2008 (including a € 15 million goodwill impairment charge) and
nil operating profit before provisions in 2009.
(3)Income/cost growth rate gap +4% excluding the € 623 million gain on redemption of subordinated liabilities or -3% excluding the retirement benefits amendment. See note 10 of this release.
(4)44.8% before the gain on redemption of subordinated liabilities or 48.5% excluding this gain and the gain from the retirement benefits amendment. Including these gains the headline cost income ratio was 39.0%.
(5)See page 5 for further details on earnings per share.
(6)Core tier 1 ratio excluding the € 3.5 billion of core tier 1 capital from the Irish Government.

Allied Irish Banks, p.l.c.

Dividend
No dividend will be paid for 2009.

For futher information please contact:

Alan Kelly
General Manager, Corporate Services
AIB Group
Bankcentre
Ballsbridge
Dublin 4
Tel: +353-1-6600311 Ext: 12162

or

Catherine Burke
Head of Corporate Relations
AIB Group
Bankcentre
Ballsbridge
Dublin 4
Tel: +353-1-6600311 Ext: 13894

 

To view the full media release click here

 

 

About AIB

AIB Group is Irelands leading banking and financial services organisation. It operates principally in Ireland, Britain, the USA and Poland.

More About AIB >>

Back To Top