US bank M&T, in which AIB has a 24% stake, has reported net profits of just under $176m for the first quarter of the year, down from almost $203m in the same period last year.
Earnings per share were $1.57, down 13% but in line with expectations following a profit warning.
Non-performing loans almost doubled compared with a year earlier to $273m. M&T had said higher costs and lower net interest margins would hit profits.
