|Bid||N/A x N/A|
|Ask||N/A x N/A|
|Day's range||5.51 - 5.51|
|52-week range||2.33 - 6.74|
|Beta (5Y monthly)||2.56|
|PE ratio (TTM)||40.51|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||26 Mar 2020|
|1y target est||N/A|
Allied Irish Banks (AIB) became the first Irish bank to unwind provisions on bad loans related to the COVID-19 crisis after its first half return to profit included a net credit impairment writeback of 103 million euros. Ireland's other dominant lender, Bank of Ireland, took a further impairment charge in the first half, albeit just 1 million euros, while flagging on Tuesday that there could be scope for writebacks later in the year. "We probably took a bigger provision than most and as the year has progressed, the macro-environment has improved and as customers and individuals perform to terms you naturally get recoveries on position that have been provided for," AIB Chief Financial Officer Donal Galvin told Reuters in an interview.
Allied Irish Banks will close 15 branches in the Irish Republic by the end of the year, it said on Tuesday, citing an "unrelenting" shift to digital banking, competition from non-traditional lenders and the impact of negative interest rates. The closures, mostly in Dublin and Cork, will cut AIB's network in its main market to 170 branches.
LONDON (Reuters) -Natwest Group said on Monday it had agreed to sell most of its Irish commercial lending business to regional peer Allied Irish Banks, as part of the British lender's planned exit from Ireland. The deal will see AIB take over around 4.2 billion euros ($5.01 billion) in gross performing commercial lending and associated undrawn exposures of around 2.8 billion euros from Natwest's Ulster Bank. Natwest said it expects to make a small gain on the disposal.