AIB has reported profits after tax of €2,351 million and earnings per share of 92.5 per cent.
The return on tangible equity (RoTE) is 26.7 per cent, with the bank stating that it expects RoTE in 2025 to be "meaningfully ahead" of its 15 per cent medium-term target.
The bank's total income is up four per cent to €4,908 million with a net interest income of €4,129 million and other income of €779 million.
AIB chief executive officer, Colin Hunt, said: “I am pleased to announce that AIB has again delivered a very strong performance in 2024 with profit after tax of €2.35 billion, a 26.7 per cent return on tangible equity and total distributions to shareholders of
€2.6 billion.
"Against a solid economic backdrop, new lending grew by 17 per cent to €14.5 billion with six per cent loan book growth to €71.2 billion. We have continued to expand the Group’s products and services as well as our customer base, which at 3.35 million has never been higher.
"The group’s share register has continued to normalise and, with the State’s shareholding currently at 12.39 per cent, there is a clear path to a return to full private ownership this year. To date, the Group has returned €18.5 billion to the State, with €4.4 billion returned since January 2024.
"Additionally, discussions are underway with the Department of Finance for a further €1.2 billion directed share buyback."
Supporting the transition to a "greener future", Hunt said €16.6 billion of AIB's €30 billion Climate Action Fund has been deployed since 2019, with €5.1 billion new green lending in 2024 representing 35 per cent of its €14.5 billion new lending.
"We’ve also seen a strong performance in new mortgage lending, advancing €2.8 billion to support 10,000 first-time buyers to purchase their first home.
"As we progress our strategy and support our growing customer base, we are mindful of uncertainties in the external environment.
"However, we remain confident in the strong fundamentals of our business and our ability to play a positive role in the Irish economy, helping to build a more sustainable future for our customers while delivering sustainable returns for our shareholders.”
