AIB reports €1.28bn profits for first half of year

AIB has reported pre-tax profits of €1.28bn for the first half of this year.

The figure represents a 3% fall on the bank's profits in the same period last year.

Adjusted basic earnings per share fell by 4% to 104.9 cents.

AIB says the figures represent a well-balanced performance in a very testing environment.

It also says there are no signs of an improvement in the market.

AIB Group chief executive Eugene Sheehy said: “The €1.28bn profit before taxation reported by AIB for the first half of 2008 represents a well balanced operating performance across our domestic and international businesses.

“This performance was achieved despite the adverse effect of slowing economies and difficult market conditions. It reflects the commitment of our people, deep customer relationships across geographically diverse franchises and a resilient risk management framework. All of this enables us to continue to operate effectively in the current challenging environment.”