AIB confirms €10.4bn loss

AIB last night published its group annual financial report for 2010 which confirmed it made a loss after tax of €10.4 billion on continuing operations.

In his executive chairman’s statement within the report, David Hodgkinson said the financial performance of AIB in 2010 “was extremely poor though not unexpected given the events of the year and the continuing economic downturn”.

Nonetheless, despite that “poor performance” the report confirms the bank still paid out more than €4.3 million to executive and non executive directors and former directors.