AIB chief executive Colin Hunt signalled in July that 2023 'will definitely be the peak year' for the bank’s net interest margin. Photograph Nick Bradshaw /The Irish Timesmove to squeeze a bit more out of the domestic banks by more than doubling the industry levy will land AIB with the biggest charge. But it hasn’t damaged the bank’s prospect of continuing to pay down a more important Government bill: its crisis-era bailout.
Shares in AIB actually hit a five-year high this week and are now up 46 per cent on where they were changing hands 12 months ago, advancing at almost twice the pace of both Bank of Ireland and PTSB, which rebranded last week from Permanent TSB.
All told, about €13.1 billion, or 63 per cent, of the aid given to AIB to keep it afloat during the crisis has been recouped, including proceeds from the sale of shares, redemption of bailout bonds, interest, guarantees and dividends. While Irish banks have been behind European peers in passing on rising central bank rates to savers … AIB has forecast that it will have handed over 30% of official rate hikes to depositors by the end of this year
While Irish banks have been behind European peers in passing on rising central bank rates to savers — as they also lagged the wider sector in increasing mortgage rates — AIB has forecast that it will have handed over 30 per cent of official rate hikes to depositors by the end of this year, up from 10 per cent in the first half of this year.
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Source: IrishMirror - 🏆 4. / 98 Read more »