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10% H1 profits hike expected at AIB

AIB is tomorrow expected to report a first half pre-tax profit rise of around 10%, analysts said today.

AIB's pre-tax profit is expected to come in at around 682 million euro, with earnings per share also up 10% on the same time last year at around 53 cents.

The country's second largest bank by market capitalisation said in its June trading statement that it was targeting low double digit earnings growth.

Analysts said the bank's Irish and UK operations were continuing to make solid progress, although this progress was at a more moderate pace than last year. But AIB's US division was continuing to prove troublesome while its Polish operations were hit by a lowing gross domestic product growth.

AIB shares closed two cents higher at 12.14 euro in Dublin this evening.