AIB to look again 'at future shape' of the bank after Covid                   

AIB Chief Financial Officer Donal Galvin and Chief Executive Officer Colin Hunt launching the bank’s 2020 interim results today. Picture: Shane O’Neill/Coalesce

AIB has paused plans for a voluntary redundancy scheme but will look again “at the future shape” of the business to prepare for changes brought on by the Covid-19 economic shock.

It comes as the bank posted a net loss of €700m in the first six months of the year as provision charges raced up to €1.2bn due to the fallout from the pandemic. New lending shrunk by 27% in the period.