DAVY VIEW

AIB’s strategic intent was outlined in late 2020, setting out its medium-term approach to 2023 and an 8% return target. We expect further details on deliverables during 2021 and how the Ulster Bank portfolio acquisition might incrementally support its returns strategy to be in focus. Given ongoing restrictions, firm guidance may not be possible at this point – hence trends on new business, activity levels and asset quality will be important.