AIB has reported a 12% rise in operating profit for the first half of 2017, as it saw revenues rise and one-off credits fall.

The bank had an operating profit of €814m during the period, on the back of €1.5 billion in income.

However, AIB's profit from continuing operations has fallen by 25%, as it spent €24m on its ongoing voluntary redundancy programme. 

The bank also incurred capital expenditure costs of €42m, largely relating to its recent flotation.

AIB's impaired loans fell to €7.8 billion in H1, a drop of €1.3 billion since December.

Its exposure to non-performing loans is €2 billion lower at €12.1 billion.

The lender's operating expenses rose by 2% to €700m.

New mortgage lending increased by 41% in Ireland during the period, with a total of €7 billion of new lending approvals to customers.

Commenting on the results, AIB CEO Bernard Byrne said: "The successful relisting of the Company on the Dublin and London Stock Exchanges, supported by a strong underlying financial performance and the reinstatement of an ordinary dividend were the highlights from a very positive first half."