AIB may exceed mortgage restructuring target

AIB may exceed mortgage restructuring target

AIB will meet or exceed central bank targets for restructuring mortgages, the bank’s chairman David Hodgkinson has told its annual general meeting this morning.

Hodgkinson said that the state-owned bank is still targeting a return to operating profit after loan losses this year before posting net income next year. AIB last posted net income in 2008.

Hodgkinson said that the bank is “more than adequately capitalised” currently and that he is “positive” that it is “moving in the right direction”. He said that the bank was focused on ensuring a return to the State over time.

The AGM was also told that about 1,000 staff have been committed to assisting troubled small and medium enterprises, while the meeting also heard that talks to close the company’s defined benefit pension scheme have advanced at the Labour Court.

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