AIB hopes to make profit in 2014, AGM told

Even though AIB is still loss-making, it hopes to make a pre-provision profit in 2014, its chairman David Hodgkinson told shareholders at yesterday’s AGM.

The State-owned bank made an underlying pre- tax loss, excluding exceptionals, of €2.8bn in 2012 compared with an €8.1bn loss the previous year.

Even though it has a new management team, with David Duffy taking up the position of CEO in 2011, the mood among shareholders remains hostile.