AIB set for profits of €1.37bn

AIB is set to announce pre-tax profits of €1.37 billion for 2004, a year blighted by controversy surrounding the discovery of foreign exchange overcharging and inappropriate breaches of tax laws by some executives.

Davy and Goodbody Stockbrokers are both forecasting undiluted earnings per share of 126 cent, a 7 per cent increase on the year before. It excludes the €50 million provision set aside by the bank to deal with foreign exchange overcharging. ...