Companies

Analysis: Investors give AIB thumbs up as it approaches breakeven on bailout funding

The bank’s Irish-listed shares were up almost 5 per cent on Wednesday afternoon

Colin Hunt, chief executive of AIB, said shareholders can expect ‘significant distributions’ in the years ahead. Picture: Fergal Phillips

AIB’s “exceptional” results boosted investor confidence in the Irish banking sector on Wednesday, sending its shares up almost 5 per cent and dragging Bank of Ireland up 2.6 per cent with it.

The results, which included a proposed €1 billion share buyback scheme for the Irish government, means the bank is well on its way to paying back its bailout, but it still needs to find an extra €1.5 billion for the state to hit ...