AIB posts 10% hike in pre-tax profits to €699m

SCANDAL-WRACKED AIB Group hit back yesterday with a strong set of earnings figures to silence its detractors.

AIB posts 10% hike in pre-tax profits to €699m
Wed, 28 Jul, 2004 - 01:00
Brian O'Mahony, Chief Business Correspondent

However the impressive earnings figures were marred by a €45 million charge to pay for the foreign exchange cover-up and other scams operated by the bank in the past.

In all, the bank has said, the total cost of investigations currently ongoing will be €50m this year.

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CourtsPlace: ScandalPlace: Republic of IrelandPlace: BritainPlace: Northern IrelandPlace: PolandPerson: Michael BuckleyPerson: Stuart DraperEvent: Faldor scandalOrganisation: AIBOrganisation: AIB GroupOrganisation: AIB Capital MarketsOrganisation: Ark LifeOrganisation: PRSAOrganisation: Dolmen StockbrokersOrganisation: IFSRA
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