Ireland’s AIB banking group returned a 5% profits increase in the six months to June, their interim results showed today.

A rogue currency trader accused of hiding €800m in trading losses at AIB-owned Allfirst Financial was today indicted by a US federal grand jury.

Allied Irish Banks PLC has reached an agreement with US, Irish and Maryland regulators to conduct reforms after a dealer at its Baltimore-based subsidiary was accused of covering up a massive five-year fraud.

Two foreign exchange traders from American giant Citibank were suspended today in the wake of the report into the €486m loss suffered by Allied Irish Bank's US subsidiary.

Six executives of the AIB subsidiary Allfirst, including its Vice President and Treasurer David Cronin, have been sacked following the publication of the Ludwig Report.

Allied Irish Banks was today set to announce if heads would roll following its foreign exchange loss of almost €700 m at American subsidiary Allfirst.

Group chief executive of Allied Irish Banks Michael Buckley is safe in his job, despite the loss of $691m (€789m) by a trader at a US subsidiary, it was reported today.

The boards of AIB and its US subsidiary AllFirst will be back in session at the bank's Dublin headquarters this morning for day two of discussions on the $700m Rusnak affair.

AIB officials should be called before the Dail to explain the €746m loss it made through a complex fraud at a US subsidiary, the Labour Party said today.

Officials at AIB bank were today being presented with a report into the €746m fraud at its American subsidiary Allfirst.

It is reported that the AIB's chief executive, Michael Buckley, was aware of potentially high-volume foreign exchange dealings at its US subsidiary, AllFirst in May of last year.

AIB will he handed an expert’s report on a €760m suspected fraud at its main American subsidiary next week.

Shares in AIB bank - whose value slumped earlier this month following confirmation of an €800m alleged fraud loss at an American subsidiary - soared in price on the stock exchange today following renewed takeover speculation.

Allied Irish Banks has dismissed rumours it's planning to sell the American subsidiary at the centre of multi-million dollar fraud allegations.

Allied Irish Bank bosses say they won't resign following the financial scandal at the bank's US subsidiary.