Business is ticking along as the UK prepares to trigger Article 50...
AIB has just released a trading statement to the market covering the three-month period to the end of September and it seems to have ridden-out the latest wave of Brexit uncertainty - though lending levels in the UK have fallen.
The bank says it continues to trade in line with expectations and that during the three month period its key operating profit metric – net interest margin - continued to creep up slowly to 2.16% compared to 2.08% in the half year to June.
The value of loans drawn down, net of those paid off, increased to €4.7bn in the nine months to September – that’s up a sizeable 15% on the previous year.
AIB says its share in each of the mortgage lending, personal lending and business lending markets continues to grow - it now holds 35% of the key home loan market.
The bank highlights that it has significant capital buffers on its balance sheet following the setting by the ECB of minimum core capital reserves at 9% of all outstanding loans.
This new and lower ECB minimum reserve requirement also boosted the Bank of Ireland share price yesterday and encouraged investors that it might be able to renew dividend payments over the next year or so.