AIB makes pre-tax profit of €537m

Operating expenses at the UK business fell from £70m to £65m

AIB made a pre-tax profit of €537m (£451m) in the first half of 2022, up 85% on the €291m (£244m) profit in the same period last year.

Its UK division, which includes its Northern Ireland business, had a pre-tax profit of £71m compared to £47m in the first half of 2021.

Operating expenses at the UK business fell from £70m to £65m.

This was primarily due to staff reduction related to the bank's exit from small business lending in GB.

AIB recently faced criticism over a plan to turn 70 of its 170 branches in the Republic of Ireland into cashless outlets.

The plan was reversed after an outcry from customers and politicians.

On Friday AIB's chief executive , Colin Hunt told broadcaster RTE that the bank had "got it wrong".

"We moved far too far, far too fast," he added.

He said the plan will not be revisited and existing branch services will continue as they are today.

Mr Hunt guaranteed that those branches would remain in place for as long as he is CEO.

"I can give you that guarantee," he said.