Special Report

Lorcan Allen: AIB set for profit bonanza after decade in the doldrums

The bank’s share price has surged almost 85 per cent in value over the past year – and shareholders are expecting a cut of anticipated mega profits

AIB’s Grafton Street branch, Dublin. The bank is on track to make huge profits this year. Picture: Maura Hickey

It’s almost a year to the day since Colin Hunt, the chief executive of AIB, was forced to go on RTÉ’s Morning Ireland programme and make a humbling admission that the bank had seriously misjudged the public mood when it announced plans to turn 70 of its 170 branches into cashless outlets.

AIB was ultimately forced to abandon the plans altogether following a public outcry from customers and politicians. It was a chastening experience for ...