M&T net income increases to €145m

M&T BANK, the American regional bank in which AIB has a 22.5% stake, met market expectations with its first-quarter results yesterday.

The bank reported net income of $189 million (€145 million) for the three months to March, 19% more in dollar terms than the same quarter last year. The figure was slightly below the $192 million recorded in the quarter ended December.

Earnings per share were 25% higher year-on-year at $1.62.