DALLAS, Sept. 3, 2009 (GLOBE NEWSWIRE) -- StockPreacher.com announces an investment report featuring Allied Irish Banks Plc. (NYSE:AIB). The report includes financial and investment analysis, analyst consensus, and pertinent industry information you need to know to make an educated investment decision.
The investment report on Allied Irish Banks Plc. (NYSE:AIB) should be of particular interest to other global money center banks: Barclays PLC (ADR) (NYSE:BCS), Bank of Ireland (ADR) (NYSE:IRE), Lloyds Banking Group PLC (ADR) (NYSE:LYG) and Canadian Imperial Bank of Commerce (USA) (NYSE:CM).
It is available at: http://www.stockpreacher.com/n/AIB
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Allied Irish Banks (AIB) is one of Ireland's major commercial banks, offering a full range of personal and corporate banking services. The Company's business is conducted through five operating divisions: AIB Bank Republic of Ireland (ROI) (which holds approximately 44% of the group's assets), Capital Markets (33%), AIB Bank UK (12%), Central & Eastern Europe (7%) and Group (4%).
In the report, the analyst notes:
"Reflecting the weak economic condition, AIB reported heavy losses for first six months of 2009, while offering poor outlook for the remainder of the year. The Company reported a substantial loss of euro872 million ($1.26 billion) in the first six months of 2009, as compared to euro1.28 billion profit it posted for the same period a year ago. Its core market in the Republic of Ireland reflected lost deposits and weak business. In addition, the Company's loan book suffered from customers' late-payments and non-payments, pushing the Company to write off euro2.37 billion of loans.
"AIB expects the economic condition to continue to prevail with little compelling evidence of recovery. And while revenue generation proves to be difficult, AIB looks to maintain an active focus on costs, as well as on asset quality and risk management, while comprehensively dealing with credit issues. For the first half of 2009, AIB's active management of its cost base yielded a 7% reduction in costs generating a neutral income/cost growth rate gap and a reduction in the underlying cost income ratio of 0.9% to 48.3%."
To read the entire report visit: http://www.stockpreacher.com/n/AIB
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