On December the 2nd, Allied Irish Banks p.l.c. (AIB or the Bank) presented an update of its strategic objectives for the next three years. During 2021-2023, the Bank aims to: 1) reduce its underlying cost base (excluding regulatory costs and bank levies) to below EUR 1.35 billion, 2) improve the Return on Tangible Equity (RoTE) to above 8% and 3) maintain a CET1 ratio higher than 14%.
Allied Irish Banks, p.l.c . (AIB or the Bank) announced in its trading update that it has reported a small loss in Q1 2020 largely as a result of higher loan loss provisions due to an update of credit models incorporating a macro-economic scenario that does not fully incorporate the impact of the COVID-19 shutdown on the economy. As a result, we expect the impact of COVID-19 macro scenario to be incorporated in the Bank's credit models in coming quarters. Loan loss provisions in Q1 were signif...
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