Retail activities drive profits up at AIB

SHAREHOLDERS in AIB can look forward to solid results when the bank releases figures for the first six months of the year next Tuesday, according to Davy stockbrokers.

Davy said yesterday that AIB would record first half pre-tax profits of €655 million before exceptional items, a 3% increase on the same period last year.

Davy analysts Emer Lang and Scott Rankin said the bank’s Irish retail operations would deliver almost 50% of group profits, with the capital markets and British divisions delivering a further 40%.