AIB Group

H1 stronger on impairments; dividend accrual a sign of intent

  • Sectors : Banks
  • Companies : AIB Group

Ratings and price correct at time of issue.

  • AIB Group

    Closing Price: 217c

  • RATING 23/01/19

  • PREVIOUS RATING 14/08/18



H1 2021 results are well ahead of expectation based on an impairment write-back, other income and capital. Notably, capital includes an accrual for foreseeable dividends. 2021 guidance, except for impairments (where a small write-back is forecast for H2), is retained on an organic basis. Medium-term targets are upgraded to incorporate acquisitions, increasing ROTE and reducing management’s CET 1 target. This is a positive update, demonstrating progress on strategy, with a strong signal of intent from the dividend accrual which is well ahead of expectations.

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Aug 4 2021, 07:25 IST/BST