DAVY VIEW

The sale of AIB’s GB SME business is the key lever to achieving the targeted €35m of costs from the UK division. It demonstrates ongoing progress by AIB on its strategic objectives, with a particularly busy 2021 marked by agreements concluded with NatWest and Great West Lifeco, the completion of the Goodbody acquisition and non-performing loan sales. Distributions are set to be resumed with FY 2021 results, with return of surplus capital likely to be a FY 2022 event.