AIB has posted post-tax profits of €2.35 billion plus a total payout to its shareholders of €2.6 billion.
Chief Executive Colin Hunt summed up the key figures:
“I am pleased to announce that AIB has again delivered a very strong performance in 2024 with profit after tax of €2.35 billion, a 26.7% return on tangible equity and total distributions to shareholders of €2.6 billion. Against a solid economic backdrop, new lending grew by 17% to €14.5 billion with 6% loan book growth to €71.2 billion. We have continued to expand the Group’s products and services as well as our customer base, which at 3.35 million has never been higher.
The Group’s share register has continued to normalise and, with the State’s shareholding currently at 12.39%, there is a clear path to a return to full private ownership this year. To date, the Group has returned €18.5 billion to the State, with €4.4 billion returned since January 2024. Additionally, discussions are underway with the Department of Finance for a further €1.2 billion directed share buyback.
Supporting the transition to a greener future, €16.6 billion of our €30 billion Climate Action Fund has been deployed since 2019, with €5.1 billion new green lending in 2024 representing 35% of our €14.5 billion new lending. We’ve also seen a strong performance in new mortgage lending, advancing €2.8 billion to support 10,000 first-time buyers to purchase their first home.
As we progress our strategy and support our growing customer base, we are mindful of uncertainties in the external environment. However, we remain confident in the strong fundamentals of our business and our ability to play a positive role in the Irish economy, helping to build a more sustainable future for our customers while delivering sustainable returns for our shareholders.”