Allied Irish Banks reports record €2.35 billion profit in 2024, nearing full private ownership.

Allied Irish Banks (AIB) reported record profits of €2.35 billion in 2024, with a 17% increase in new lending to €14.5 billion. The Irish state's stake in AIB has decreased to 12.39%, as the bank moves towards full private ownership. AIB has returned €18.5 billion to the state, including €4.4 billion since January 2024, and plans a €1.2 billion share buyback. The bank's net interest income rose by 7% to €4.1 billion, supported by higher interest rates and loan volumes. AIB also aims to deploy €16.6 billion of its €30 billion Climate Action Fund by 2025, with €5.1 billion in new green lending in 2024.