AIB turns recent losses into €1.1bn profit

AIB made a pre tax profit of €1.1 billion last year - its first full year profit since the financial crisis in 2008.

It compares to €1.7 billion loss in 2013.

In a statement this morning, the state owned bank said it has seen a 22% fall in the number of its customers who are in arrears on their owner-occupier mortgages.

The bank also says it issued €13.2 billion in lending approvals in 2014 - a 37% increase on the previous year.