AIB profits provide some welcome relief but new challenges lie ahead

AIB overcame the cashless branches debacle to grind out an improved set of half-year results, but a deteriorating economic outlook threatens to make the going much rougher for Ireland’s second-largest bank. Pre-tax profits jumped by almost 85pc to €537m at AIB in the first six months of 2022. However, these results were flattered by a trebling in the write-back of previous bad debt charges from €103m in the first half of 2021 to €309m this time out.