AIB reports loss of €2.3bn for 2009 after a bad debt charge of €5.4bn; First annual loss since bank was founded in 1966
Mar 2nd, 2010 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
AIB (Allied Irish Banks), Ireland's biggest banking group, today posted a loss of €2.3bn after tax for 2009 and including a bad debt charge of €5.4bn. The loss before tax was €2.7bn - - AIB was formed in 1966, through a merger of the Provincial Bank of Ireland, Royal Bank of Ireland, and Munster & Leinster Bank. The loss in 2009 was the first full-year loss incurred by the bank.