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Allied Irish returns to operating profit after crash
May 12, 2014 / 10:27 AM / 4 years ago

Allied Irish returns to operating profit after crash

DUBLIN, May 12 (Reuters) - State-owned Allied Irish Banks (AIB) returned to a operating profit after provisions for the first time since its 2010 bailout in the first quarter, hitting a landmark many analysts had expected later in the year.

AIB last year made its first operating profit excluding provisions for impaired loans and said it expected to post a profit including provisions by the end of the year.

“The underlying operating performance of the bank returned to post-provision profitability in Q1 with performance moderately ahead of expectations both in terms of income generation and provisions,” the bank said in a statement.

Reporting by Conor Humphries; editing by Jason Neely

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