AIB is determined to rebuild trust and return the investment of the Irish people
AIB and the Irish people have travelled a very difficult road together over the past six years. The State has provided the means for the bank's survival and recovery.
Now AIB has reached a point where it can announce a return to sustainable profitability for the first half of 2014 - €437m before tax. A bank that is generating capital provides fuel for the economy, stimulates growth and secures existing employment and supports job-creation. Crucially, it ultimately allows a return to the shareholder and also goes a long way towards retrieving lost trust and confidence.
When I joined as CEO of AIB in December 2011, the bank’s figures made grim reading. What followed was this: losses of €5.1 billion for 2011; losses of €3.7 billion for 2012; losses of €1.7 billion for 2013.