AIB sees tentative signs of recovery in lending despite Covid uncertainty

17,000 accounts remain on payment breaks, down from 66,000

New lending was down 24% in the nine-month period up to September 2020, but the third quarter saw tentative signs of recovery

AIB has reported a total income loss of 11% for the nine months up to September compared to the same time period last year. However, the bank said its performance results are “more resilient than expected" in the face of the Covid-19 pandemic.

New lending was down 24% in the nine-month period up to September 2020, but the third quarter saw “tentative signs of recovery” with new lending 18% lower than the same period last year. While “better than expected," redemptions continue to exceed new lending.