AIB income from interest grows 10% on the back of rising rates

Since July, the European Central Bank has been increasing interest rates bringing an end to a decade of low-interest rates in Europe

AIB now expects that income from interest for all of 2022 to jump by more than 15%.

AIB increased its income from interest by 10% in the third quarter due to the hike in interest rates.

In a trading update, the bank said there was a 10% increase in net interest income in the three months to the end of September and expects the figure for all of 2022 to jump by more than 15%.