AIB upgrades full-year guidance on first-half profits of €939m

Income and loan book increases

AIB’s new mortgage lending in Ireland was €2bn, resulting in a mortgage market share of 30%.

AIB has upgraded its full-year guidance as it grew income and its loan book in the first half of the year.

The bank posted profit after tax of €939m for the first half, with earnings per share of 42.2c. 

Total income rose 2% with net interest income (NII) remaining flat at €1.8bn and total other income of €411m up 15%.

AIB said NII is now expected to be above its previous guide of €3.8bn for the year.

Chief Executive Colin Hunt said the bank's performance reflects the resilience of the Irish economy.

"We achieved growth across all lending segments with new lending up 10% to €7.5bn, increased customer deposits and a strong capital position maintained. This enabled us to support our customers, invest in the business and announce an almost 60% increase in our interim dividend of 19.528c per share."

Gross loans of €74.5bn increased by €2.2bn or 3% driven by new lending of €7.5bn, partially offset by redemptions.

AIB’s new mortgage lending in Ireland was €2bn resulting in a mortgage market share of 30%. Personal lending in Ireland of €0.7bn was broadly in line with prior year. New lending to SMEs in Ireland of €0.9bn improved compared to the prior year.