M&T, the US bank in which AIB has a 22.5% stake, has reported net profits of $723m for 2004, up 26% on the previous year. Earnings per share grew by 21% to $6.
The results include the first full-year contribution from Allfirst, which M&T bought from AIB in 2003 in return for the 22.5% stake.
For the fourth quarter, net profits were up 15% on the same period a year earlier to $192m. Earnings per share were ahead of expectations at $1.62.
