AIB to return €1.7bn in cash to shareholders after posting record profits of more than €2bn

The lender confirmed it is also in talks with the government to launch a €1bn targeted share buyback scheme this year

Colin Hunt, chief executive of AIB, said it had delivered an ‘exceptionally strong financial performance’ last year on the back of soaring interest rates. Picture: Bryan Meade

AIB has announced it will return €1.7 billion in cash to shareholders after a “landmark” year that saw the bank rake in record profits.

Announcing full year results on Wednesday morning, AIB posted operating profits of more than €2.7 billion for 2023, which is more than double the €1 billion operating profit it made in the previous year as after rising interest rates helped fatten the banks bottom line.

The lender reported net interest income ...