Allied Irish Banks (AIB) reported steady first-half profits, lower bad loans and higher lending and capital on Friday as it continues to recover a decade after the country’s banking crash.
“The financial results for the first half of the year were very good and towards the upper end of expectations. They confirm that AIB continues to deliver against the financial commitments made during last year's IPO process,” AIB chief executive Bernard Byrne said in a statement.
The government sold a 29 per cent stake in the bank last year in Europe’s largest initial public offering (IPO).
It reported a pre-tax profit of 762 million euros versus 761 million a year earlier.
Non-performing exposures (NPEs) fell to 7.5 billion euros from 9.2 billions euros three months earlier, boosted by the sale of a 1.1 billion euro portfolio of bad loans in May. In 2013, its stock of NPEs stood at 31 billion euros.
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Irish banks are under pressure from the European Central Bank to reduce bad loans which ballooned after Ireland’s property crash. AIB’s accounted for 12 per cent of its loan book at the end of June.
Helped by the best performing economy in the euro zone for the fifth successive year, its new term lending rise by 15 per cent to 5 billion euros.
Tier one capital ratio rose to 17.6 per cent from 17.1 percent at the end of March, well above its medium term target of 13 per cent.
Its share of the fast recovering Irish mortgage market stood at 32 per cent in the first half, slipping from 33 per cent a year earlier.
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Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
North Pole stats
Distance covered: 160km
Temperature: -40°C
Weight of equipment: 45kg
Altitude (metres above sea level): 0
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Distance covered: 130km
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A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
Business Insights
- Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
- The introduction of tariffs could hinder the US's clean energy initiatives by raising input costs for materials like nickel
- US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs
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MATCH INFO
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UAE currency: the story behind the money in your pockets
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- Specialist robotics and science laboratories
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The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
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The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
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WWE TLC results
Asuka won the SmackDown Women's title in a TLC triple threat with Becky Lynch and Charlotte Flair
Dean Ambrose won the Intercontinental title against Seth Rollins
Daniel Bryan retained the WWE World Heavyweight Championship against AJ Styles
Ronda Rousey retained the Raw Women's Championship against Nia Jax
Rey Mysterio beat Randy Orton in a chairs match
Finn Balor defeated Drew McIntyre
Natalya beat Ruby Riott in a tables match
Braun Strowman beat Baron Corbin in a TLC match
Sheamus and Cesaro retained the SmackDown Tag Titles against The Usos and New Day
R-Truth and Carmella won the Mixed Match Challenge by beating Jinder Mahal and Alicia Fox
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Fixtures
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World Cup final
Who: France v Croatia
When: Sunday, July 15, 7pm (UAE)
TV: Game will be shown live on BeIN Sports for viewers in the Mena region
