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AIB Trading Stmt: Positive, Reads Well For BKIR

FINANCIALS

Allied Irish (AIB: A3 pos/BBB) 1Q24 trading statement includes the term “very strong performance” and there was a small impairment release – these are both positive laterals for Bank of Ireland (BKIR: A3 pos/BBB/BBB+). Other headlines:


  • AIB GROUP STILL SEES FY NET INTEREST INCOME ABOVE EU3.65B (cons: 3.74bn)
  • AIB GROUP STILL SEES FY COSTS +6% TO +7% (cons: +6.7%)
  • AIB GROUP 1Q CET1 RATIO 15.9% VS. 15.8% Q/Q (cons is for CET1 of 16.8% at Jun-24)
  • AIB GROUP STILL SEES FY OTHER INCOME ABOVE EU700M (cons has 720m)
Conf call is 0800 (London time), dial in details at: https://aib.ie/content/dam/frontdoor/investorrelations/docs/se-announcements/2024/aib-group-plc-q1-2024-trading-update.pdf

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