March 6, 2020 / 7:08 AM / a month ago

BRIEF-AIB pre-exceptional FY profits fall 23%, sets out medium term targets

March 6 (Reuters) -

* ALLIED IRISH BANKS - PRE-EXCEPTIONAL FY PROFIT BEFORE TAX 1.09 BILLION EUROS VERSUS 1.41 BILLION EUROS YEAR AGO

* AIB GROUP - FULLY LOADED CORE TIER 1 RATIO 16.4% AT END-2019 VERSUS 16.5% AT END-SEPTEMBER, COST INCOME RATIO 56 PERCENT

* AIB GROUP - FY NET INTEREST MARGIN 2.37% VERSUS 2.42% FOR NINE MONTHS TO END-SEPT, EXIT NIM 2.25%

* AIB GROUP - NON-PERFORMING EXPOSURES REDUCED TO 3.3 BILLION EUR FROM 6.1 BILLION AT END-2018, NPE RATIO 5.4%

* AIB GROUP - TARGETS AN ABSOLUTE BASE OF 1.5 BILLION EUR IN 2022, PLAN TO LOWER HEADCOUT BELOW 8,000

* AIB GROUP - PROPOSES DIVIDEND OF 217 MILLION EUR VERSUS 461 MILLION EUR FOR 2018, TARGETS PAY-OUT RATIO OF ATTRIBUTABLE PROFIT OF 40-60% THROUGH CYCLE

* AIB GROUP - INCREASES FULLY LOADED CORE TIER 1 RATIO TARGET TO 14% FROM 13%, MAINTAINS FLEXIBILITY TO AMEND TARGET

* AIB GROUP - TARGETS ROTE IN EXCESS OF 8% BY 2022

* AIB GROUP - ENVISAGES MULTI-YEAR DISTRIBUTION PROGRAMME, MAINTAIN FLEXIBILITY ON FORM OF ANY ADDITIONAL DISTRIBUTIONS

* AIB GROUP - NEW LENDING UP 2% Y/Y TO 12.3 BILLION EUR, MORTGAGE MARKET SHARE 31.4%, PERFORMING LOANS UP 3% TO 58.8 BILLION EUR

* AIB GROUP - INTEND TO APPLY FOR REGULATORY APPROVAL FOR ADDITIONAL CAPITAL DISTRIBUTION ASAP, IDEALLY THIS YEAR Further company coverage: (Reporting By Padraic Halpin)

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