DUBLIN, Ireland, Feb. 22, 2005 (PRIMEZONE) -- Allied Irish Banks (NYSE:AIB):
Adjusted Earnings per share EUR 133.1c, up 22% -- up 13% compared to 2003 base of EUR 118.0c(1)
Income / cost gap +4%
Tangible cost income ratio down 2.0% to 56.3%
Currency translation impact, -4% on adjusted EPS growth
Tangible return on equity 29.6%
Tier 1 capital ratio 7.9%
Total dividend of EUR 59.4c, up 10%
Double-digit US$ earnings growth from M&T
EARNINGS AHEAD OF MARKET CONSENSUS DUE TO:
-- Lower tax charge -- effective rate 23.7%
-- Strong fourth quarter business performance, notably in Capital
Markets
-- Technical adjustments in Ark Life including lower discount rate
7.5%
DIVISIONAL PROFIT PERFORMANCE(2)
AIB BANK ROI up 11%
After incurring 50 million investigation related charges Market share gains, loans up 30%, deposits up 16%
AIB BANK GB & NI up 16%
Loans up 29%, deposits up 15%
CAPITAL MARKETS up 30%
Strong performance in Corporate Banking, Treasury and Investment Banking
POLAND up 135%
Costs down 9%; loans up 6%, deposits up 10%
AIB GROUP CHIEF EXECUTIVE MICHAEL BUCKLEY SAID:
"AIB had a record year in 2004. We had a great blend of earnings, strong profit growth across all geographies and a wide range of market share gains. Total shareholder return in 2004 was well ahead of our peers. The momentum in our business is excellent."
(1) Before restructuring and early retirement costs in 2003. A base of EUR 118.0c was established for 2004 comparison with 2003. The adjusted earnings per share for 2003 including restructuring and early retirement costs was EUR 109.5c. (2) 2003 base is before restructuring and early retirement costs, the sale of Govett and the impact of exchange rate movements on the translation of foreign locations' profit.