AIB's continuing businesses - net interest margin
(Thomson Reuters ONE) -
In its 2010 Half-Yearly Financial Report announced on 4(th) August, Allied Irish
Banks, p.l.c. ("AIB") [NYSE: AIB] disclosed a series of key 2013 performance
targets for AIB's continuing businesses (Republic of Ireland and Capital Markets
divisions, and excluding its Polish business, its UK business, and its
shareholding in M&T Bank Corporation). Following the recent agreement to sell
its Polish interests, AIB is making this announcement to aid understanding of
AIB's continuing businesses.
The targets disclosed in AIB's announcement of 4(th) August 2010 included a net
interest margin ("NIM") target of c. 180 basis points ("bps") by 2013. For the
continuing businesses, excluding the cost of the Eligible Liabilities Guarantee
Scheme, and further adjusted to remove NAMA loans and income, the NIM for the
six months to 30 June 2010 would have been 155 bps. On that same basis, average
interest earning assets as at 30 June 2010 would have been c. ?109 billion and,
applying the NIM of 155 bps to this figure, would have resulted in annualised
net interest income of c. ?1.69 billion. The component parts of that ?1.69
billion of net interest income are estimated by management to comprise net loan
income of c. ?1.56 billion, net deposit cost of c. ?120 million, funding cost of
c. ?310 million and treasury / other income of c. ?560 million.
-ENDS-
For further information please contact:-
Alan Kelly Catherine Burke
General Manager, Corporate Services Head of Corporate Relations and
Communications
AIB Group AIB Group
Dublin Dublin
Tel: +353-1-6412162 Tel: +353-1-6413894
email: alan.j.kelly(at)aib.ie email: catherine.e.burke(at)aib.ie
This announcement contains "forward-looking" statements, within the meaning of
the United States Private Securities Litigation Reform Act of 1995, regarding
AIB's business, including the 2013 targets and the key assumptions underlying
those targets. Actual results may differ materially from those targeted in the
forward-looking statements. Factors that could cause actual results to differ
materially from those targeted in the forward-looking statements include, but
are not limited to, global, national and regional economic conditions, levels of
market interest rates, credit or other risks of lending and investment
activities, competitive and regulatory factors and technology change. Any
forward-looking statements made by or on behalf of the Group speak only as of
the date they are made. No statement in this announcement is intended to
constitute a profit forecast for any period.
[HUG#1445787]
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Allied Irish Banks, p.l.c. via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 21.09.2010 - 14:30 Uhr
Sprache: Deutsch
News-ID 42879
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