M&T Bank sees earnings rise by 34%

M&T Bank saw its fourth-quarter earnings rise by 34%, beating analysts’s estimates, as the company’s bad debts fell.

AIB holds a 22% stake in the US bank which it is thought it is likely to sell this year to boost its depleted capital base.

M&T operates throughout the northeast and mid-Atlantic and has been relatively stable throughout the financial crisis as it focused on its community- banking model and made acquisitions.