Finance minister urges banks to treat customers 'fairly' as AIB posts record profits

Michael McGrath said State would directly benefit from profit to tune of €280m

Finance Minister Michael McGrath: 'It's important that all banks and non-banks treat customers fairly and that's why we have well-established systems of regulation in place. We have a consumer protection code with a code of conduct on mortgage arrears.' Picture: Cillian Sherlock/PA Wire

Finance Minister Michael McGrath has called on Irish banks to treat their customers “fairly”, as AIB reported more than €2bn in after-tax profits for 2023.

AIB, in which the State has a 40% stake, reported its after-tax profits increased by €765m compared to 2022, with the bank saying the surge in European Central Bank interest rates is driving income.