View source for Allied Irish Banks

{{Short description|One of the three main commercial banks in Ireland, operating in multiple market segments}}
{{Distinguish|Anglo Irish Bank}}
{{Use dmy dates|date=October 2020}}
{{Infobox company
| name = Allied Irish Banks, p.l.c.
| logo = Allied_Irish_Banks_logo.svg
| logo_caption = 
| image = AIB Central Park.jpg
| image_caption = AIB Office Central Park, Leopardstown, Dublin 18
| type = [[Public limited company]] (p.l.c.)
| traded_as = {{euronextDublin|A5G|IE00BF0L3536|XDUB}}<br/>[[ISEQ 20]] component
| ISIN = {{ISIN|sl=n|pl=y|IE00BF0L3536}}
| area_served = [[Republic of Ireland|Ireland]]<br>[[United Kingdom]]
| key_people = {{ublist |Jim Pettigrew ([[Chairman]]) |Colin Hunt ([[Chief executive officer|CEO]])}}<ref>{{cite web|author=AIB Press Office|title=Biographies|url=http://www.aib.ie/servlet/ContentServer?pagename=PressOffice/PO_HomePage&poSection=BG|publisher=AIB|access-date=6 July 2012|archive-date=14 July 2014|archive-url=https://web.archive.org/web/20140714145910/http://www.aib.ie/servlet/ContentServer?pagename=PressOffice%2FPO_HomePage&poSection=BG|url-status=dead}}</ref>
| industry = [[Banking industry|Banking]]
| services = [[Financial services]]
| revenue = €4.9 billion (2024)<ref name=ar>{{cite web|url=https://aib.ie/content/dam/frontdoor/investorrelations/docs/resultscentre/annualreport/2024/aib-group-plc-afr-report-2024.pdf|title=Annual report 2024|publisher=AIB|access-date=7 March 2025}}</ref>
| operating_income = {{profit}} €4.92 billion (2024)
| num_employees = 10,469 (2024)
| subsid = [[AIB Group (UK)|AIB Group (UK) plc]]
| website = {{URL|https://aib.ie/}}
| footnotes = 
| foundation = {{Start date and age|1966|9|21|df=yes}}
| location = 10 [[Molesworth Street, Dublin|Molesworth Street]], Dublin 2, Ireland
| profit = {{profit}} €2.35 billion (2024)
}}
'''Allied Irish Banks, p.l.c.''' is one of the so-called [[Big Four (banking)#Ireland|Big Four]] commercial banks in the [[Republic of Ireland]]. AIB offers a full range of personal, business and corporate banking services. The bank also offers a range of general insurance products such as home, travel and car. It offers [[life insurance|life assurance]] and [[pension]]s through [[Irish Life Assurance plc|AIB Life]].

In December 2010 the Irish government took a majority stake in the bank, which eventually grew to 99.8%. AIB's shares are currently traded on the Irish Stock Exchange and the London Stock Exchange, but its shares were delisted from these exchanges between 2011 and 2017, following its effective nationalisation. The remainder of its publicly traded shares were listed on the Enterprise Securities Market of the Irish Stock Exchange until 23 June 2017.<ref name="delist">{{cite news |url=http://www.rte.ie/news/2011/0125/aib-business.html |title=AIB's last day on main Dublin market |date=25 January 2011 |publisher=The Irish Times |access-date=2011-02-01}}</ref>

AIB also owns [[Allied Irish Bank (GB)]] in Great Britain and [[AIB (NI)]] in Northern Ireland. In November 2010, it sold its 22.5% stake in [[M&T Bank]] in the United States. At the beginning of 2008 AIB entered the Latvian, Estonian and Lithuanian markets by acquiring AmCredit mortgage finance business from the Baltic&nbsp;– American Enterprise Fund. This stake was sold at a loss to [[Swedbank]] in 2012.<ref>{{Cite web|url=https://www.irishexaminer.com/business/aib-sells-its-latvian-mortgage-book-185384.html|title=AIB sells its Latvian mortgage book|date=2012-02-28|website=Irish Examiner|access-date=2018-12-13}}</ref>

In 2009, Allied Irish Banks along with its competitor [[Bank of Ireland]] accepted a €3.5&nbsp;[[1000000000 (number)|billion]] [[bailout]] from the government of Ireland as a part of the [[Post-2008 Irish banking crisis|Bank Recapitalisation Scheme]].<ref>{{cite web|url=http://www.irishexaminer.com/ireland/ideymhmhoj/|title=AIB and BoI to get €3.5bn each in bailout|work=[[Irish Examiner]]|access-date=27 July 2009|date=12 February 2009|archive-date=3 March 2016|archive-url=https://web.archive.org/web/20160303214726/http://www.irishexaminer.com/ireland/ideymhmhoj/|url-status=dead}}</ref> Over several further tranches, the total bailout of AIB (including [[EBS d.a.c.|EBS]]) amounted to €20.7&nbsp;billion.<ref>{{Cite web|url=https://www.independent.ie/business/irish/aib-will-not-repay-3-5bn-cash-it-owes-to-the-state-29337833.html|title=AIB 'will not repay €3.5bn cash it owes' to the State|website=The Irish Independent|date=12 June 2013 |language=en|access-date=2018-12-13}}</ref>

In June 2017, the Irish government completed an [[Initial public offering|IPO]] of Allied Irish Banks.<ref name=nyt-chad>{{cite news |last=Bray |first=Chad |date=12 June 2017 |title=Allied Irish Banks Could Be Valued at $14.9 Billion in I.P.O. |url=https://www.nytimes.com/2017/06/12/business/dealbook/allied-irish-banks-ipo.html?ref=dealbook&_r=0 | work=[[The New York Times]] |location=New York City, United States |access-date=13 June 2017}}</ref> In December 2021, when the company was valued less than 6 billion euro on the public market, the government announced it would start gradually selling its stake.<ref>{{cite news|first1=Conor|last1=Humphries|access-date=2021-12-21|title=Ireland to begin 'phased exit' from AIB in coming months|url=https://www.reuters.com/markets/stocks/ireland-cut-71-stake-aib-over-coming-months-2021-12-21/|newspaper=Reuters|date=2021-12-21|via=www.reuters.com}}</ref> The CEO of AIB since March 2019 is Colin Hunt. Jim Pettigrew was appointed chair of the board in October 2021.

AIB has been designated as a Significant Institution since the entry into force of [[European Banking Supervision]] in late 2014, and as a consequence is directly supervised by the [[European Central Bank]].<ref>{{cite web |website=European Central Bank |title=The list of significant supervised entities and the list of less significant institutions |url=https://www.bankingsupervision.europa.eu/ecb/pub/pdf/ssm-listofsupervisedentities1409en.pdf |date={{date|2014/09/04}}}}</ref><ref>{{cite web |website=European Central Bank |title=List of supervised entities |date={{date|2023/01/01}} |url=https://www.bankingsupervision.europa.eu/ecb/pub/pdf/ssm.listofsupervisedentities202302.en.pdf}}</ref>

==Name==
Allied Irish Banks is usually referred to, both inside and outside the company, simply as AIB and often by its trade name of "Allied Irish Bank" (singular). In Northern Ireland, the bank traded as First Trust Bank until November 2019, while in Great Britain, it is called "Allied Irish Bank (GB)"—the only part of the operation where the full name, in the singular, is still in day-to-day use.{{citation needed|date=June 2017}} Initially, the bank operated under the names of its former constituent companies, alongside a new AIB logo, a circle divided in three with an "A" at the centre. From 1970, these were replaced by "Allied Irish Banks". In 1990, AIB introduced a new [[logo]] (prompted, it was said in some quarters, by the remarkable similarity between its previous logo and that of [[Mercedes-Benz]].) Since then, the bank has preferred to be referred to as "AIB", though "Allied Irish Banks plc" remains its legal name.{{citation needed|date=June 2017}}

The bank is often referred to colloquially as "AIB Bank", an example of a [[RAS syndrome|redundant acronym]]. This is due to the name "AIB Bank" being adopted for the Republic of Ireland branch banking business at the time of the 1990 rebrand (with the word "Bank" being printed in the green stripe in the logo). This version of the logo is no longer used in print advertising but can still be seen on the façades of most AIB branches in the Republic. The 'Trustee Savings Banks' similarly rebranded to "TSB Bank" in 1993. The new logo features a depiction of [[Noah's Ark]], after a carving on a [[Celtic cross]] at [[Killary Church]] near [[Lobinstown]] in [[County Meath]],<ref>{{Cite web |url=http://www.aib.ie/servlet/ContentServer?pagename=PressOffice/PO_HomePage&poSection=CG |title=AIB Press Office: AIB Corporate Identity Guidelines |access-date=30 May 2012 |archive-date=8 November 2012 |archive-url=https://web.archive.org/web/20121108212907/http://www.aib.ie/servlet/ContentServer?pagename=PressOffice/PO_HomePage&poSection=CG |url-status=dead}}</ref> which dates from the 9th century.<ref>[http://www.megalithicireland.com/High%20Cross%20Killary.htm Megalithic Ireland: Irish High Crosses - Killary High Cross]</ref>

==History==
Allied Irish Banks Limited was formed in 1966 as a new company that acquired three Irish banks: ''Provincial Bank of Ireland'', the ''Royal Bank of Ireland'', and the ''Munster & Leinster Bank''. In 1966, AIB's aggregate assets were [[Irish pound|IR£]]255&nbsp;million (€323.8&nbsp;million)—as at 31 December 2005, the AIB Group had assets of €133&nbsp;billion. In the 1980s the introduction of their Automatic Teller Machine Network called Banklink just shortly after the Bank of Ireland Pass. ATMs were only available in cities and major towns in the 1980s but arrived into smaller and medium towns during the 1990s.

===Early history===
In 1825, Provincial Bank commenced operations, pioneering joint stock branch banking in Ireland. It also established a branch in London.

The Royal Bank of Ireland (RBI) began operations in 1836 with a capitalisation of £1,500,000, it was floated to take over the business of Shaw's private bank (founded 1797),<ref>{{cite book |last1=Dillon |first1=Malcolm |title=The history and development of banking in Ireland : from the earliest times to the present day |date=1889 |publisher=London : Wilson |page=68 |url=https://archive.org/details/historydevelopme00dilluoft/page/68/}}</ref><ref name="Barrow">{{cite book |last1=Barrow |first1=G. L. |title=The emergence of the Irish banking system, 1820-1845 |date=1975 |publisher=Dublin : Gill & Macmillan |isbn=978-0-7171-0765-0 |pages=108, 206–207 |url=https://archive.org/details/emergenceofirish0000barr/page/108/}}</ref> becoming known for its mercantile links.{{citation needed|date=June 2017}} 
[[File:Provincial Bank of Ireland, Belfast.jpg|thumb|Old Headquarters of the Provincial Bank, [[Belfast]]]]

In 1864, the Munster Bank was established.<ref name="UL">{{Cite news|last=Parsons|first=Michael|title=Greedy bankers, property punts, unsecured loans - what's new?|url=https://www.irishtimes.com/news/greedy-bankers-property-punts-unsecured-loans-what-s-new-1.599337|access-date=2020-10-16|newspaper=The Irish Times|language=en}}</ref> In 1867, the Munster Bank purchased some of the branches of the unsuccessful Union Bank of Ireland. In 1870, The Munster Bank acquired the David La Touche & Son bank (established 1693).<ref>{{cite web |title=1730s – La Touche Bank, Cork Hill, Dublin |url=https://www.archiseek.com/2012/la-touche-bank-cork-hill-dublin/ |website=Archiseek - Irish Architecture |access-date=4 November 2021 |date=9 June 2012}}</ref><ref>{{Cite web|last=Dillon|first=John|date=16 January 2005|title=And pray give of your bounty to both city and county|url=https://www.independent.ie/entertainment/books/and-pray-give-of-your-bounty-to-both-city-and-county-26203704.html|access-date=2020-10-16|website=The independent|language=en}}</ref> In 1885, the Munster Bank failed due to debt and ran out of cash, causing it to close all of its branches.<ref name="UL" /> Also in 1885, The Munster and Leinster Bank commenced operations.<ref>{{Cite news|last=Fahey|first=Denis|title=When a bank goes bust|url=https://www.irishtimes.com/culture/heritage/when-a-bank-goes-bust-1.1600173|access-date=2020-10-16|newspaper=The Irish Times|language=en}}</ref>

In 1923, the Royal Bank of Ireland bought the [[Irish Free State]] business of the [[Danske Bank (Northern Ireland)|Belfast Banking Company]], which in turn bought the [[Northern Ireland]] business of the Royal Bank.{{citation needed|date=June 2017}}

===1985 ICI collapse===
''The Can of Worms at ICI'' was the headline in ''[[Business & Finance]]'' magazine on 8 November 1984.<ref>{{cite web|url=http://www.actuaries.org.uk/files/pdf/library/proceedings/gen_ins/gic1985/ireland.pdf |publisher=International Actuarial Association |title=General Insurance Convention Study Group |year=1985 |access-date=14 August 2005|archive-url=https://web.archive.org/web/20060222102559/http://www.actuaries.org.uk/files/pdf/library/proceedings/gen_ins/gic1985/ireland.pdf |archive-date=22 February 2006 |url-status=dead}}</ref> The [[Insurance Corporation of Ireland]] (ICI) was a wholly owned subsidiary of AIB when it collapsed in 1985 with losses of over [[Irish pound|IR£]]200&nbsp;million. When it was discovered in November 1984 that ICI was operating below the statutory reserve ratio, a request for further capital was made to AIB&nbsp;— ICI had returned a profit of more than £80&nbsp;million the previous year.<ref>{{cite news|last1=Browne|first1=Vincent|title=When the taxpayer rescued the AIB 'big boys'|url=https://www.irishtimes.com/opinion/when-the-taxpayer-rescued-the-aib-big-boys-1.156260|newspaper=The Irish Times|date=24 February 1999}}</ref> This collapse occurred at a time of deep economic recession in Ireland. The level of Government debt at that time was 116% of GDP. But the Irish taxpayer bailed ICI out of its difficulties. The [[Irish Government]] did so to ensure a continuation of the insurance business and to protect policyholders. AIB claimed that it could not resolve the problems of ICI without putting its core banking business in jeopardy. The investment of £85&nbsp;million by AIB in ICI was written off and the cost to the Irish taxpayer was £400&nbsp;million.<ref>{{cite news|url=http://www.irishtimes.com/newspaper/finance/2004/0508/645628079BZAIBCRISIS.html|newspaper=The Irish Times|title=Top bank hits headlines again for the wrong reasons|date=8 May 2004|url-status=dead|archiveurl=https://web.archive.org/web/20121022200845/http://www.irishtimes.com/newspaper/finance/2004/0508/1083519176441.html|archivedate=22 October 2012}}</ref>[[File:Allied Irish Banks (logo).svg|thumb|100px|Allied Irish Banks' logo (1990–2016)]]
[[File:AIB Allied Irish Bank Crest Symbol.svg|thumb|200px|Allied Irish Banks' former crest|alt=A white dove of piece with a branch in its mouth perches above a stylised boat. It looks very much like a weather vane]]
On 9 September 2010 AIB reached agreement to sell a 66% stake in [[BZ-WBK]] to [[Banco Santander|Santander]] for €3.1&nbsp;billion, the balance of the shares to be sold on the open market.<ref>{{cite news| url=http://www.rte.ie/news/2010/0910/aib-business.html | publisher=RTÉ News | title=Polish sale nets AIB €3.1 billion | date=10 September 2010}}</ref> Any purchase over 66% would have forced Santander to make an offer to buy the entire company.<ref>{{cite news| url=https://www.reuters.com/article/idUSLDE6891GP20100910 | work=Reuters | first=Steve | last=Slater | title=Santander wins 4 bln euro auction for Zachodni-FT | date=10 September 2010}}</ref>

===Recent history===
Between 1999 and 2001 AIB had an interest in [[Keppel TatLee Bank]] in [[Singapore]], but withdrew after [[Oversea-Chinese Banking Corporation]] (OCBC) acquired it.<ref>{{cite news |title=AIB retreats from Singapore |url=https://www.independent.ie/business/irish/aib-retreats-from-singapore/26249711.html |access-date=12 August 2025 |work=Irish Independent |date=14 July 2001 |language=en}}</ref><ref>{{cite web |title=AIB Annual Report and Accounts 2001 |url=https://aib.ie/content/dam/frontdoor/investorrelations/docs/resultscentre/annual-report.pdf |website=aib.ie |publisher=AIB |access-date=12 August 2025}}</ref>

After suffering large losses due to the activities of [[rogue trader]] [[John Rusnak]] at Allfirst (see below) in April 2003, AIB completed a deal merging Allfirst with M&T Bank Corporation, which is headquartered in [[Buffalo, New York]]. In November 2010, AIB sold its 22.5% stake (26.7&nbsp;million shares) in M&T.  The shares were sold at [[US$]]77.50 per share and generated $2.1&nbsp;billion.  The sale was part of AIB's effort to raise capital amidst the ongoing financial crisis in Ireland. AIB maintains its current US customer treasury services from its branch in New York.<ref>{{cite web |url = https://www.fdic.gov/resources/resolutions/resolution-authority/resplans/plans/aib-165-1812.pdf | publisher = FDIC  | title = Allied Irish Banks, p.l.c., New York Branch 2018 - Tailored Resolution Plan | date = 2018}}</ref>

At the beginning of 2008 AIB entered the [[Latvia]]n, [[Estonia]]n and [[Lithuania]]n markets by acquiring the ''AmCredit'' mortgage finance business from the [[Baltic American Enterprise Fund]]. Now AIB operates as a branch of this financial group in Estonia and Lithuania (update needed), operations in Latvia have ceased (see below).{{citation needed|date=June 2017}} In 2008 AIB operated through its local branches providing financial services under established AmCredit brand in all three countries. AmCredit operated as a single product mortgage business, but the company is expanding the range of banking products.{{citation needed|date=June 2017}} All AmCredit's mortgage customers automatically became customers of the AIB branch in their country. The goal of AIB is to become a full service customer focused bank in the Baltic region.{{citation needed|date=June 2017}} The branch in Latvia was operating between 26 November 2007 (date of registration) and 20 September 2012 (date of liquidation).<ref>{{cite web |url = http://company.lursoft.lv/en/allied-irish-banks-p.l.c.-latvijas-filiale/40003972795 | publisher = Lursoft.lv  | title = Allied Irish Banks, p.l.c. Latvijas filiāle | date = 17 April 2017}}</ref> Its mortgage portfolio of 800 loans was acquired by Swedbank.<ref>{{cite web |url = http://www.delfi.lv/bizness/bankas_un_finanses/swedbank-iegadajas-allied-irish-banks-latvijas-filiales-hipotekaro-portfeli.d?id=42163592 | publisher = Delfi (web portal)| title   ='Swedbank' iegādājas 'Allied Irish Banks' Latvijas filiāles hipotekāro portfeli | date = 27 February 2012}}</ref>

In February 2008, AIB entered into an agreement to acquire a 49.99% interest in Bulgarian American Credit Bank (BACB), a specialist provider of secured finance to small and medium-sized companies in [[Bulgaria]].{{citation needed|date=June 2017}} AIB later sold its stake in BACB to a Bulgarian private-equity fund for a nominal sum in May 2011.<ref>{{Cite news|url=https://www.reuters.com/article/alliedirishbanks-bacb-idUSLDE74F20M20110516|title=AIB sells stake in Bulgaria's BACB bank|date=2011-05-16|work=Reuters|access-date=2018-12-13|language=en}}</ref>

The Irish government received shares of €3.5&nbsp;billion in AIB in 2009 as part of measures to recapitalise the bank.
In April 2010, AIB announced that the Irish government would receive a stake of 16% or 17% in the bank. The Irish State had been due to receive dividends on those shares, but EU regulations state that banks that get State aid cannot make cash payments. This forced AIB to give the government shares instead.<ref>[http://www.insideireland.ie/index.cfm/section/news/ext/aib014/category/1084] {{dead link|date=June 2017|bot=InternetArchiveBot|fix-attempted=yes}}</ref>

The bank is currently{{when|date=May 2023}} involved in a number of "sale and leaseback" deals with its properties. In 2005 it sold an extension to its [[Ballsbridge]] Bankcentre headquarters for €367&nbsp;million.

In February 2006 the bank announced record pre-tax profits of €1.7&nbsp;billion, a 23% rise on the previous year and the largest ever for an Irish bank. The majority of the increase came from its Republic of Ireland operations, but with its Capital Markets in Northern Ireland, Great Britain, Poland and American divisions also making significant contributions. This led to criticism from some newspapers, as their profit per customer was some three times that of other European banks. Former [[Labour Party (Ireland)|Labour Party]] leader [[Pat Rabbitte]] called for more competition in the Irish banking sector. In August 2006 the bank again announced record profits for the first half of 2006, making €1.2&nbsp;billion before tax, equating to €1.2&nbsp;million per hour.<ref>{{cite news | url = http://www.irishtimes.com/newspaper/finance/2006/0802/1154075818022.html | newspaper = The Irish Times| title = AIB raises forecast after six-months profit tops €1.2 billion |date = 2 August 2006}}</ref>

===2008 share price collapse===
The international credit crunch presented the first challenge to AIB&nbsp;— namely a dramatic fall-off in liquidity. As AIB depends to a significant extent on the international financial markets for liquidity due to an insufficient deposit base, this has impacted the bank severely. The Irish government stepped in with a guarantee which effectively granted a triple A rating on AIB debt, thus freeing up its [[access to finance]].<ref>{{cite web|url=http://www.moneyguideireland.com/irish-bank-deposits-get-government-guarantee.html|title=Irish Bank Deposits get Government Guarantee|publisher=Money Guide Ireland|date=30 September 2008|access-date=22 December 2012}}</ref>

The second and more serious problem, unacknowledged by bank management, the financial regulator and the Irish government, is [[solvency]]. The question concerning solvency has arisen due to domestic problems in the [[Irish property bubble|crashing Irish property market]]. AIB, like most Irish financial institutions, has substantial exposure to property developers in their loan portfolio. These property developers are currently suffering from gross over-supply of property, much still unsold, while demand has evaporated. The massive immigration from Eastern Europe which had propped up demand has now reversed due to rapidly rising unemployment in Ireland. Irish property developers own [[Speculation|speculated]] billions of euros of overvalued land parcels such as urban brownfield and greenfield sites, and also agricultural land at an average value of €23,600 per [[acre]] (US$32,000 per acre or €60,000 per [[hectare]])<ref>{{cite web
 |title       = Irish Agricultural Land Research
 |url         = http://www.savills.ie/pdfs/articles/166.pdf
 |date        = May 2008
 |publisher   = Savills Hamilton Osbourne King
 |access-date  = 8 October 2008
 |archive-url  = https://web.archive.org/web/20081029181016/http://www.savills.ie/pdfs/articles/166.pdf
 |archive-date = 29 October 2008
 |url-status  = dead}}</ref> which is several multiples above the value of equivalent land in other European countries.

AIB correctly identify a systematic risk of triggering an even more severe financial crisis in Ireland if they were to call in the loans as they fall due. The loans are subject to terms and conditions, referred to as "covenants". Although AIB is not one of the banks listed as waiving these covenants, confidence in the Irish banking system is low as a result of other Irish banks electing to waive these financial safeguards<ref>{{cite web
 |last=Oliver
 |first=Emmet
 |title=New waive of Irish banking
 |url=http://www.tribune.ie/business/news/article/2008/aug/31/new-waive-of-irish-banking/
 |date=31 August 2008
 |work=Sunday Tribune
 |access-date=1 October 2008
 |url-status=dead
 |archive-url=https://web.archive.org/web/20090228201051/http://www.tribune.ie/business/news/article/2008/aug/31/new-waive-of-irish-banking/
 |archive-date=28 February 2009
}}</ref> in fear of provoking the (inevitable) bankruptcy of many property developers and banks are thought to be "''lending some developers further cash to pay their interest bills, which means that they are not classified as 'bad debts' by the banks''."<ref name="asset_dive">{{cite news
  | last = Collins
  | first = Liam
  | title = Top developers see asset values dive two-thirds
  | url = http://www.independent.ie/national-news/top-developers-see-asset-values-dive-twothirds-1496605.html
  | date = 12 October 2008
  | work = [[Irish Independent]]}}</ref>

Furthermore, AIB's balance sheet indicated only limited impairment (bad debt) provisions. Their 2008 1st half financial report only accounts for an impairment provision of 0.21%.<ref>{{cite web
 |title=AIB Half-Yearly Financial Report 2008
 |url=http://www.aibgroup.com/servlet/ContentServer?pagename=AIB_Investor_Relations/AIB_Press_Releas/aib_d_press_releases&cid=1216645875820&c=AIB_Press_Releas&channel=IRCA&position=first
 |date=30 July 2008
 |publisher=Allied Irish Banks
 |access-date=18 September 2008
 |archive-url=https://web.archive.org/web/20081030003045/http://www.aibgroup.com/servlet/ContentServer?pagename=AIB_Investor_Relations%2FAIB_Press_Releas%2Faib_d_press_releases&cid=1216645875820&c=AIB_Press_Releas&channel=IRCA&position=first
 |archive-date=30 October 2008
 |url-status=live
}}</ref> This does not appear to be consistent with the real negative changes taking place in property market fundamentals. The Central Bank told the [[Oireachtas]] Enterprise Committee that shareholders who lost their money in the banking collapse are to blame for their fate and got what was coming to them for not keeping bank chiefs in check, but did admit that the Central Bank had failed to give sufficient warning about reckless lending to property developers.<ref>{{cite news|url=http://www.herald.ie/national-news/top-official-says-shareholders-to-blame-for-the-banking-crisis-1846180.html|title=Top official says shareholders to blame for the banking crisis|newspaper=[[The Herald (Ireland)|The Herald]]|date=30 July 2009|url-status=dead|archiveurl=https://web.archive.org/web/20120603125736/http://www.herald.ie/news/top-official-says-shareholders-to-blame-for-the-banking-crisis-1846180.html|archivedate=3 June 2012}}</ref>

In contrast, on 7 October 2008, [[Danske Bank]] wrote off a substantial sum largely due to property-related losses incurred by its Irish subsidiary, [[National Irish Bank]].<ref>{{cite news
  | first1 = Simon
  | last1 = Carswell
  | first2 = Fiona
  | last2 = Reddan
  | title = Another traumatic day for investors in Irish banks
  | url=http://www.irishtimes.com/newspaper/finance/2008/1008/1223335465924.html
  | date = 7 October 2008
  | newspaper = The Irish Times| access-date = 7 October 2008}}</ref> Write downs by the domestically owned Irish banks are only now beginning to take place.<ref name="asset_dive"/>

AIB's subsidiary [[Goodbody Stockbrokers]] continually issued "buy" recommendations for its then parent, notwithstanding its worsening financial position, and used Client Discretionary mandates to invest their monies in Allied Irish Banks at the start of the [[post-2008 Irish banking crisis]] in November 2008, which generated adverse comment.<ref>{{cite news|url=http://www.independent.ie/opinion/columnists/shane-ross/shane-ross-goodbody-takes-a-bath-in-aib-2052049.html|work=Irish Independent|title=Shane Ross: Goodbody takes a bath in AIB |date=7 February 2010}}</ref><ref>{{cite news|url=http://www.independent.ie/business/irish/clients-of-aibs-brokerage-firm-told-to-exit-boi-2052040.html|title=Clients of AIB's brokerage firm told to exit BoI|newspaper=[[Irish Independent]]|first1=Shane|last1=Ross|first2=Nick|last2=Webb|date=7 February 2010}}</ref> When asked if they had ever issued a sell notice on AIB, a Goodbody spokesman said "I don't know if we even keep records going back that far".<ref>Ross Shane, The Bankers, Page 147, Penguin Ireland 2009, {{ISBN|978-0-14-104444-6}}</ref>

===Rescue package 2009===
On 12 February 2009 the Irish government arranged a €7&nbsp;billion rescue plan for AIB and [[Bank of Ireland]]. The bank's capital value had fallen to €486&nbsp;million, rather less than its 70% holding in [[Bank Zachodni]] in Poland.<ref>[http://www.irishtimes.com/newspaper/breaking/2009/0217/breaking16.html Irish Times on rescue plan; February 2009]</ref>

[[Goodbody Stockbrokers]] was sold as part of the restructuring plan for €24&nbsp;million.<ref>{{cite news |url=http://www.independent.ie/business/irish/goodbody-may-be-sold-as-part-of-aib-restructure-2014978.html |work=Irish Independent |first=Joe |last=Brennan |title=Goodbody may be sold as part of AIB restructure |date=15 January 2010}}</ref><ref>{{cite news |url=http://www.irishtimes.com/newspaper/finance/2010/0703/1224273902327.html |newspaper=The Irish Times |title=Cantillon |date=7 July 2010}}</ref><ref>[http://www.goodbody.ie/news/announcement.html independent.ie] {{webarchive|url=https://web.archive.org/web/20100923132054/http://www.goodbody.ie/news/announcement.html |date=23 September 2010}}</ref> The [[Financial Times]] commented that the lowly price tag placed on Ireland's oldest stockbroker and "one-time bastion of Ireland's [[Protestant]] business elite" was just another measure of the dramatic decline of the Irish economy.<ref>[https://www.ft.com/content/cca2d9d8-c9c9-11df-b3d6-00144feab49a ft.com]</ref><ref>{{cite news|url=http://www.independent.ie/business/irish/fexco-makes-a-bargain-basement-deal-for-goodbody-2353399.html|title=Fexco makes a bargain basement deal for Goodbody|newspaper=[[Irish Independent]]|first=Dan|last=White|date=26 September 2010}}</ref> AIB were likely to have had to indemnify the new owners of Goodbody Stockbrokers against any legal action arising from the firm's boom-time trading.<ref>{{cite news|url=http://www.independent.ie/business/irish/aib-to-indemnify-buyers-of-goodbody-against-litigation-2238229.html|title=AIB to indemnify buyers of Goodbody against litigation|newspaper=[[Irish Independent]]|first=Laura|last=Noonan|date=29 June 2010|url-status=dead|archiveurl=https://web.archive.org/web/20120618082130/https://www.independent.ie/business/irish/aib-to-indemnify-buyers-of-goodbody-against-litigation-2238229.html|archivedate=18 June 2012}}</ref>

===2010: Nationalisation===
On 30 September 2010, the Irish Government announced plans to use its [[Sovereign wealth fund|National Pensions Reserve]] to inject €3.7&nbsp;billion of capital into Allied Irish Banks, becoming the majority shareholder and effectively [[nationalization|nationalizing]] the bank.<ref name="bweek">[http://www.businessweek.com/news/2010-09-30/ireland-to-take-majority-ownership-of-aib-in-bailout.html Ireland to Take Majority Ownership of AIB in Bailout] {{webarchive|url=https://web.archive.org/web/20110416183840/http://www.businessweek.com/news/2010-09-30/ireland-to-take-majority-ownership-of-aib-in-bailout.html |date=16 April 2011}} - Bloomberg BusinessWeek - 30 September 2010</ref>

AIB needed to raise additional capital due to increasing losses on bad loans incurred from the [[Irish property bubble|real estate bubble]], and Irish Finance Minister [[Brian Lenihan Jnr|Brian Lenihan]] stated that the bank was unable to attract sufficient interest from private investors.<ref name="bweek"/><ref>[https://www.reuters.com/article/idUSLDE68S2G320100929 Dublin to pump up to 3 bln euros into Allied Irish] - Reuters, 20 September 2010</ref> As part of the deal, Chairman Dan O'Connor agreed to quit the bank while managing director, Colm Doherty, announced he would leave before the end of the year after 13 months in the job.<ref>[http://www.belfasttelegraph.co.uk/news/local-national/republic-of-ireland/senior-aib-executives-forced-out-14963147.html Senior AIB executives forced out] - ''The Belfast Telegraph'', 30 September 2010</ref>

In December 2010, the [[European Commission]] approved the plans, and the Government passed emergency legislation to allow the deal to take place without requiring the approval of existing shareholders.<ref name="herald">[https://web.archive.org/web/20101226162832/http://www.herald.ie/national-news/outrage-at-secret-raid-to-rescue-aib-2473388.html Outrage at 'secret raid' to rescue AIB] - Irish Herald, 24 December 2010</ref> The High Court subsequently approved the deal on 24 December 2010, allowing the Irish government to take a 49.9% stake in the bank, rising to 92.8% following disposal of the Polish subsidiary to [[Banco Santander]].<ref name="herald"/><ref>[http://citywire.co.uk/wealth-manager/ireland-injects-3-7bn-into-allied-irish-banks/a460205 Ireland injects €3.7bn into Allied Irish Banks] - CityWire, 24 December 2010</ref>

AIB became the fourth of Ireland's "Big Six" financial institutions to be nationalised, following [[Anglo Irish Bank]], [[Irish Nationwide Building Society]], and [[EBS d.a.c.|EBS Building Society]]. AIB was delisted from the main market of the [[Irish Stock Exchange]] on 25 January 2011<ref name="delist"/> and the [[NYSE]] on 26 August 2011.<ref>{{cite web|url=http://www.businessweek.com/ap/financialnews/D9PBT9EO0.htm |title=Allied Irish Banks US shares delisted from NYSE - BusinessWeek |access-date=2011-08-31 |url-status=dead |archive-url=https://web.archive.org/web/20121102110524/http://www.businessweek.com/ap/financialnews/D9PBT9EO0.htm |archive-date= 2 November 2012}}</ref>

===2011 AIB filed lawsuit===
AIB filed a lawsuit against Oracle Financial Services, India in January 2011, claiming breach of contract on Flexcube implementation.<ref>{{Cite web |url=http://www.equitybulls.com/admin/news2006/news_det.asp?id=86771 |title=equitybulls.com |access-date=26 March 2011 |archive-date=6 June 2014 |archive-url=https://web.archive.org/web/20140606205612/http://www.equitybulls.com/admin/news2006/news_det.asp?id=86771 |url-status=dead}}</ref> The case was settled later that year.<ref>{{Cite web|url=https://www.independent.ie/business/irish/aib-settles-action-over-problematic-it-systems-26795452.html|title=AIB settles action over 'problematic' IT systems|website=The Irish Independent|date=25 November 2011 |language=en|access-date=2018-12-13}}</ref>

===2020 Workforce reduction===
In December 2020 AIB announced its intention to cut 1,500 jobs by 2023 noting that due to the [[COVID-19 pandemic]], 80% of its workforce had been working from home. Some branches were also merged.<ref>{{Cite web|title=AIB plans to cut 1,500 jobs by 2023 with aim of merging branches|url=https://www.breakingnews.ie/business/aib-plans-to-cut-1500-jobs-by-2023-with-aim-of-merging-branches-1045168.html|access-date=2020-12-02|website=BreakingNews.ie|date=2 December 2020 |language=en}}</ref>

=== Re-privatisation ===
The former [[Minister for Finance (Ireland)|Minister for Finance]] [[Paschal Donohoe|Pascal Donohoe]] said that the [[Government of Ireland|government]] would be selling its then 71% stake in the bank, with the sell-off beginning in January 2022.<ref>{{Cite news|date=2021-12-21|title=AIB: Irish government set to sell off Allied Irish Banks shares|language=en-GB|work=BBC News|url=https://www.bbc.com/news/world-europe-59731656|access-date=2021-12-21}}</ref>

In June 2024, it was announced that the government's ownership had reduced to 25% as part of a share sale at the time.<ref>{{cite web |title=Government raises €593m in latest AIB share sale |url=https://www.breakingnews.ie/business/government-raises-e593m-in-latest-aib-share-sale-1642945.html#:~:text=Reuters-,The%20Government%20has%20sold%20a%205%20per%20cent%20stake%20in,of%20similar%20size%20in%20November. |website=BreakingNews.ie |access-date=1 July 2024 |language=en |date=27 June 2024}}</ref>

In March 2025, the Irish Government announced its plans to reduce its stake in AIB Group from 12% to around 3% after approving the bank's €1.2 billion share buyback plan. The move continued Ireland's gradual exit from the bank, which it nationalised in 2010 with a €21 billion bailout.<ref name="reuters.com">{{Cite news |date=March 31, 2025 |title=Ireland could cut AIB stake to 3% once latest buyback completed, says finance minister |url=https://www.reuters.com/markets/deals/ireland-could-cut-aib-stake-3-once-latest-buyback-completed-says-finance-2025-03-31/}}</ref> In June 2025, the Irish Government sold its remaining stake in AIB, thus returning the bank to full private ownership.<ref>{{Cite news |date=17 June 2025 |title=Ireland returns AIB to full private ownership after crisis-era bank bailout|url=https://www.ft.com/content/5fae918c-0077-4e05-9d55-c8f7387cb23c}}</ref>

==Controversy==

===2002: John Rusnak losses===
[[John Rusnak]], a currency trader at Allfirst, racked up losses of almost US$700&nbsp;million during Michael Buckley's tenure as group chief executive. It was Ireland's biggest banking scandal and the fourth-biggest banking scandal in the world when it came to light on 4 February 2002.<ref>{{cite book |author1=Siobhán Creaton |author2=Conor O'Clery |title= Panic at the Bank How John Rusnak LO$T AIB $691,000,000 |year= 2002 |publisher= Gill & Macmillan Ltd |isbn= 0-7171-3563-2}}</ref><ref>{{cite news |url=https://news.bbc.co.uk/2/hi/business/1805777.stm |work=BBC News |title=Rogue trader 'Mr Middle America' |date=7 February 2002}}</ref><ref>{{cite book | last = Jacque | first = Laurent L. | title = Global Derivative Debacles: From Theory to Malpractice | place = Singapore | publisher = World Scientific | year = 2010 | isbn = 978-981-283-770-7}} Chapter 9: Allied Irish Banks, pp.&nbsp;125–141.</ref>

===Tax evasion===
The €90&nbsp;million settlement that AIB reached with the Revenue Commissioners in respect of Deposit Interest Retention Tax evasion in 2000 was the highest tax settlement in the history of Ireland. The bank's internal auditor, Tony Spollen,<ref>{{cite book |last = Spollen | first = Anthony L. |title= Corporate Fraud: The Danger from Within |year= 2002 |publisher= Oak Tree Press (Ireland) |isbn= 1-86076-038-4}}</ref> highlighted a potential [[Deposit Interest Retention Tax]] (DIRT) liability of IR£100&nbsp;million for the period 1986–1991,<ref>{{cite news | url = http://www.irlgov.ie/committees-99/c-publicaccounts/sub-rep/default.htm | publisher = Public Accounts Committee | title = Parliamentary Inquiry into DIRT | date = 27 September 1999 | access-date = 21 January 2016 | archive-url = https://web.archive.org/web/20080529221125/http://www.irlgov.ie/committees-99/c-publicaccounts/sub-rep/default.htm | archive-date = 29 May 2008 | url-status = dead}}</ref><ref>{{cite news|url=http://archives.tcm.ie/irishexaminer/1999/09/28/ihead_323.htm |publisher=The Irish Examiner |title=The former AIB head apologised for causing offence |date=28 September 1999 |url-status=dead |archive-url=https://web.archive.org/web/20110629133515/http://archives.tcm.ie/irishexaminer/1999/09/28/ihead_323.htm |archive-date=29 June 2011}}</ref> but Gerry Scanlon, the group chief executive at that time rubbished this estimate, describing it as "infantile".  The [[Oireachtas]] Sub-Committee Inquiry into DIRT hearing on 27 September 1999 concluded that it was "extraordinary" when Scanlon told the Inquiry that he was unaware of the scale of the DIRT issue.

The [[Revenue Commissioners]] on 28 March 2006 imposed a tax settlement plus penalties on four former senior executives for their interest, while employed by AIB, arising from investments they maintained in Faldor Limited.<ref>{{cite news | url = http://www.rte.ie/news/2006/0328/revenue-business.html | publisher = RTÉ News | date = 28 August 2006 | title = AIB's Faldor four on Revenue list}}</ref> Faldor was an investment company set up in the [[British Virgin Islands]] that between 1989 and 1996 hold funds on behalf of these senior AIB executives as well as people connected to them. Allied Irish Banks Investment Managers then managed the funds in the company on their behalf; at the time Gerry Scanlan was CEO of the bank.<ref>{{cite news | url = http://www.rte.ie/news/2006/0328/revenue-business.html | publisher = RTÉ News | title = AIB's Faldor four on Revenue list | date = 28 March 2006 | access-date = 14 August 2006}}</ref> Faldor subsequently benefited from inappropriate deal allocations, and artificial deals that amounted to €48,000 out of AIB Investment Managers' own funds.

Those cited include:<ref>{{cite web|url=http://www.irisoifigiuil.ie/pdfs/Ir280306.PDF |archive-url=https://web.archive.org/web/20070928123051/http://www.irisoifigiuil.ie/pdfs/Ir280306.PDF |url-status=dead |archive-date=28 September 2007 |publisher=Iris Oifigiúil |date=28 March 2006 |title=Underdeclaration of Income Tax and Capital Gains Tax. Faldor Revenue enquiry case}}</ref>

*Gerry Scanlon, chief executive AIB Group when this arrangement was in place, of [[Glenageary]], [[County Dublin]]; tax and penalties amounted to €206,010.
*Diarmuid Moore, former director of corporate strategy at AIB, [[Malahide]], [[County Dublin]]; tax and penalties amounted to €51,044.
*Roy Douglas, chairman, Irish Life & Permanent Plc and formerly of AIB, [[Howth]], [[County Dublin]]; tax and penalties amounting to €53,245.43 was secured.
*Patrick Dowling, former deputy chief executive, late of [[Delgany]], [[County Wicklow]]; the estate paid tax and penalties of €13,000.

===Excess FX charging issues===
In 2004 it was revealed that the bank had been overcharging on foreign exchange transactions for up to ten years. The overcharging affected 3&nbsp;million purchase transactions of foreign [[cheque|drafts]]. Initially the projected amount of overcharging was €14&nbsp;million. However the bank set aside €50&nbsp;million to cover the cost of refunds.

The [[Central Bank of Ireland]] published a report into an investigation of AIB Group concerning overcharging its own customers for FX transactions and deal allocation and other associated issues.<ref>{{cite web | url = http://www.ifsra.ie/data/news_files/AIBReport.pdf | publisher = Irish Financial Services Regulatory Authority | title = Report of Investigations into AIB Group on Foreign Exchange and other charging issues and Deal Allocation and Associated Issues | date = 7 December 2004| url-status = dead | archive-url = https://web.archive.org/web/20051217024204/http://www.ifsra.ie/data/news_files/AIBReport.pdf |archive-date=17 December 2005}}</ref> This revealed excess charges of €34.2&nbsp;million, including interest. AIB failed to comply with the law for a period of almost 8 years and that certain staff and management were fully aware of this at the time.

The [[Central Bank of Ireland]] had been aware that AIB was overcharging consumers in FX fees but did not act for a number of years.<ref>[https://www.tribune.ie/breakingnews/article/2009/apr/09/financial-regulator-defends-role-in-aib-fees-scand/ tribune.ie] {{webarchive|url=https://web.archive.org/web/20160308081338/http://tribune.ie/breakingnews/article/2009/apr/09/financial-regulator-defends-role-in-aib-fees-scand |date= 8 March 2016}}</ref><ref>[http://archives.tcm.ie/businesspost/2009/04/05/story40779.asp tcm.ie] {{dead link|date=June 2017 |bot=InternetArchiveBot |fix-attempted=yes}}</ref> They gave a parliamentary inquiry the "false impression" that they were unaware of it.<ref>{{cite news|url=http://www.irishtimes.com/newspaper/breaking/2009/0324/breaking58.htm|title=Regulator knew of AIB overcharging, says auditor|newspaper=[[The Irish Times]]|first=Ciara|last=O'Brien|date=24 March 2009}}</ref><ref>{{cite news|url=http://www.irishtimes.com/newspaper/finance/2009/0513/1224246388494.html|title=Regulator's general failure is to blame for carnage now afflicting Irish households|newspaper=[[The Irish Times]]|date=13 May 2009}}</ref> The [[whistleblower]] who gave the Central Bank the information was requested to come to a meeting with them but was only invited to withdraw the allegations of wrongdoing and at the same time found himself removed from his position at AIB without any reason given. After his case was highlighted in the media, the Central Bank officially apologised on how the authorities treated him, eight years after alerting them of overcharging.<ref>{{cite news|url=http://www.independent.ie/business/irish/whistleblower-mcerlean-to-get-official-apology-from-regulator-2364621.html|title=Whistleblower McErlean to get official apology from Regulator|work=[[Irish Independent]]|first=Emmet|last=Oliver|date=5 October 2010}}</ref>

AIB announced on 27 September 2006 that the final outlay in respect of restitution and interest arising from overcharging amounted to €65&nbsp;million and that this included a donation of €20.6&nbsp;million on behalf of its customers to an unspecified charity that it was unable to identify. No employee or officer of the banks was disciplined.<ref>{{cite news|url=http://www.unison.ie/breakingnews/index.php3?ca=9&si=99036 |title=AIB pays out further €31.6m due to overcharging scandal |work=Irish Independent|date=27 September 2006 |url-status=dead |archive-url=https://web.archive.org/web/20160304062354/http://www.unison.ie/breakingnews/index.php3?ca=9&si=99036 |archive-date=4 March 2016}}</ref>

Apart from FX, the [[Central Bank of Ireland]] discovered in 2004, following an anonymous tip-off, that AIB overcharged customers €8.6&nbsp;million.<ref>{{cite web | url=http://www.ifsra.ie/data/news_files/progress%20report%20fx%20and%20charging%20issues.pdf | archive-url=https://web.archive.org/web/20050321005458/http://www.ifsra.ie/data/news_files/Progress%20Report%20FX%20and%20Charging%20Issues.pdf | url-status=dead | archive-date=21 March 2005 | publisher = Irish Financial Services Regulatory Authority | title = Progress Report, Foreign Exchange and Charging Issues AIB Group | date = 23 July 2004}}</ref> No regulatory action was taken.{{citation needed|date=June 2017}}

===Deal allocation and associated issues===
{{primary sources|date=June 2017}}
Between 1989 and 1996, funds of certain senior executives of AIB at the time and/or related parties were managed by Allied Irish Investment Managers Limited (now AIBIM) through a [[British Virgin Islands]] investment company, Faldor Ltd.<ref>{{cite web | url = http://www.ifsra.ie/frame_main.asp?pg=results.asp | publisher = Financial Services Regulator | title = Opening Statement to Joint Oireachtas Committee | date = 19 January 2005 | url-status = dead | archive-url = https://web.archive.org/web/20070628231408/http://www.ifsra.ie/frame_main.asp?pg=results.asp | archive-date = 28 June 2007}}</ref>

Faldor benefited from inappropriate favorable deal allocations, by way of artificial deals, amounting to approximately IR£38,000 (€48,000) out of AIBIM's own funds. Further inappropriate deal allocation practices relating to eight transactions in the period 1991 to 1993 were identified which adversely affected the performance of two specialist unit trusts, amounting to a total of £137,000 (€174,000), to the advantage of other clients. These were unrelated to Faldor. While the Internal Audit function of AIB did identify some inappropriate dealing practices in 1991 and 1993, there is no evidence that the Faldor account was identified in these audits. No disciplinary action was taken against individuals involved in these practices at the time and compensation was not paid to the unit trusts affected. When this episode of law breaking was exposed a disciplinary process was put in place within AIB and compensation has been paid to those who were disadvantaged. Tom Mulcahy, group chief executive of AIB from 1994 to June 2001, resigned the chairmanship of the board of [[Aer Lingus]] on 28 May 2004 following the disclosure of this matter.<ref>{{cite news |title=Aer Lingus chairman resigns over AIB controversy |url=https://www.irishtimes.com/news/aer-lingus-chairman-resigns-over-aib-controversy-1.980703 |newspaper=The Irish Times |language=en}}</ref><ref>{{cite news |title=Tom Mulcahy resigns as Aer Lingus chairman |url=https://www.rte.ie/news/business/2004/0530/50703-aib-business/ |access-date=12 August 2025 |date=30 May 2004 |language=en}}</ref>

===Charles Haughey and the Moriarty Tribunal===
In 2006, the [[Moriarty Tribunal]] published its report into the financial affairs of former [[Taoiseach]] [[Charles Haughey]]. Justice Moriarty found that AIB had settled a IR£1&nbsp;million (€1.27&nbsp;million) overdraft with Haughey on favourable terms for the politician shortly after he became Taoiseach in 1979; the tribunal found that the leniency shown by the bank in this case amounted to a benefit from the bank to Haughey. According to the report, the bank showed an extraordinary degree of deference to Haughey despite his financial excesses.<ref name=it-moriarty>[http://www.irishtimes.com/newspaper/breaking/2006/1219/breaking39.htm Haughey payments 'devalued' democracy] — ''The Irish Times'' newspaper article, 19 December 2006.</ref>

===Cashless branches===
On 19 July 2022, AIB announced that 70 of its 170 branches would become cashless due to "declining demand for these services" by October 2022.<ref>{{Cite news |last=Goodbody |first=Will |date=19 July 2022 |title=AIB to turn 70 branches cashless as it expands An Post services deal |work=Raidió Teilifís Éireann |url=https://www.rte.ie/news/business/2022/0719/1311026-aib-to-turn-70-branches-cashless-expand-an-post-deal/ |access-date=21 July 2022}}</ref> Under the plans, these branches would no longer provide cash or cheque services and ATMs would also be removed.<ref>{{cite web|url=https://aib.ie/ways-to-bank/branch-banking/branch-updates|title=AIB Branch Updates – Our services are changing|website=Allied Irish Banks|access-date=22 July 2022|archive-url=https://web.archive.org/web/20220722115324/https://aib.ie/ways-to-bank/branch-banking/branch-updates|url-status=live|archive-date=22 July 2022}}</ref> The announcement was heavily criticised by GAA clubs, local councillors and AIB customers in rural areas.<ref>{{Cite news |last=Kelleher |first=Sinead |date=20 July 2022 |title=Kerry couple who recently switched to AIB angry as local branch goes 'cashless': 'We feel very let down' |work=The Kerryman |url=https://www.independent.ie/regionals/kerryman/news/kerry-couple-who-recently-switched-to-aib-angry-as-local-branch-goes-cashless-we-feel-very-let-down-41855471.html |access-date=21 July 2022}}</ref><ref>{{Cite news |last=McGoldrick |first=Sean |date=20 July 2022 |title=Leitrim club says GAA must drop AIB as sponsor if it won't reverse decision to go cashless |work=Irish Independent |url=https://www.independent.ie/irish-news/news/leitrim-club-says-gaa-must-drop-aib-as-sponsor-if-it-wont-reverse-decision-to-go-cashless-41855925.html |access-date=21 July 2022}}</ref><ref>{{Cite news |last=Ó Liatháin |first=Concubhar |date=20 July 2022 |title=Cork's Duhallow region left without banking service after AIB cash decision |work=The Corkman |url=https://www.independent.ie/regionals/corkman/news/corks-duhallow-region-left-without-banking-service-after-aib-cash-decision-41855474.html |access-date=21 July 2022}}</ref><ref>{{Cite news |last=Murray |first=Eavan |date=20 July 2022 |title='Shocking blow to rural communities' – AIB to scrap ATMs in 70 branches nationwide |work=Irish Independent |url=https://www.independent.ie/irish-news/shocking-blow-to-rural-communities-aib-to-scrap-atms-in-70-branches-nationwide-41853747.html |url-access=subscription |access-date=20 July 2022}}</ref> On 21 July, Government TDs sought an emergency meeting with [[Minister for Finance (Ireland)|Minister for Finance]] [[Paschal Donohoe]] regarding the move.<ref>{{Cite news |last=Meskill |first=Tommy |date=21 July 2022 |title=Fianna Fáil TD seeks emergency meeting with minister over AIB move |work=Raidió Teilifís Éireann |url=https://www.rte.ie/news/politics/2022/0720/1311390-fiannafail-td-meeting/ |access-date=21 July 2022}}</ref> [[Taoiseach]] [[Micheál Martin]] said AIB should "reconsider and reflect on" its decision to remove cash facilities at 70 branches around the country.<ref>{{cite news|url=https://www.rte.ie/news/politics/2022/0721/1311474-aib/|title=Taoiseach says AIB should 'reconsider' cashless decision|publisher=[[RTÉ News and Current Affairs]]|date=21 July 2022|access-date=21 July 2022}}</ref>

The next day, on 22 July, the [[Minister for Social Protection]], [[Minister for Rural and Community Development and the Gaeltacht|Rural and Community Development]], [[Heather Humphreys]] called on AIB to halt the decision to go cashless at 70 branches, stating that rural communities across the country were "rightly angry" about the plan, accusing the bank of showing a "complete disregard" for rural communities.<ref>{{cite news|url=https://www.irishtimes.com/business/financial-services/2022/07/22/aib-reverses-plan-to-make-70-banks-cashless-following-public-unease/|title=Heather Humphreys calls on AIB to pause cashless move|publisher=[[The Irish Times]]|first=Vivienne|last=Clarke|date=22 July 2022|access-date=22 July 2022}}</ref> In the afternoon, AIB announced that it would not be proceeding with its plan to end cash services at 70 branches around the country following a backlash to the move from business groups, consumers, farming and rural organisations and politicians.<ref>{{cite news|url=https://www.rte.ie/news/business/2022/0722/1311594-central-bank-banking-services/|title=AIB abandons plan to remove cash services from 70 branches|publisher=[[RTÉ News and Current Affairs]]|first=Will|last=Goodbody|date=22 July 2022|access-date=22 July 2022}}</ref><ref>{{cite news|url=https://www.independent.ie/business/personal-finance/banking/aib-says-it-will-not-proceed-with-plans-to-remove-cash-services-from-70-branches-in-dramatic-u-turn-41859301.html|title=AIB says it will not proceed with plans to remove cash services from 70 branches in dramatic U-turn|publisher=[[Irish Independent]]|first1=Hugh|last1=O'Connell|first2=Philip|last2=Ryan|first3=Charlie|last3=Weston|first4=Seoirse|last4=Mulgrew|date=22 July 2022|access-date=22 July 2022}}</ref><ref>{{cite news|url=https://www.irishexaminer.com/news/arid-40924106.html|title=AIB scraps plans to pull cash service from 70 branches|publisher=[[Irish Examiner]]|first1=Michelle|last1=McGlynn|first2=Daniel|last2=McConnell|first3=Paul|last3=Hosford|date=22 July 2022|access-date=22 July 2022}}</ref>

==Sponsorships==

During the late 1990s and early 2000s there were [[AIB Better Ireland Awards]] shown on RTE television.

AIB were one of the key sponsors of the 2006 [[Ryder Cup]], which was held at [[The K Club]] in [[Straffan]], [[County Kildare]]. In May of that year, the bank launched a €5&nbsp;million advertising campaign for the tournament.<ref>{{cite news |last1=Gallagher |first1=Paul |title=Ryder Cup ad banks on epic scenes to get the pulse racing |url=https://www.irishtimes.com/sport/ryder-cup-ad-banks-on-epic-scenes-to-get-the-pulse-racing-1.1000585 |newspaper=The Irish Times |language=en}}</ref> AIB also sponsor an [[MSc]] course in Data Science at [[Technological University Dublin]] for a select few of their employees.<ref>{{Cite web|url=https://aib.ie/offers/DIT-students|title=AIB in partnership with DIT|website=AIB.ie|language=en|access-date=2020-02-20}}</ref>

==See also==
{{Portal|Companies|Banks}}
*[[AIB UK]]
*[[List of banks]]
*[[List of banks in Ireland]]
* [[Inter-Alpha Group of Banks]]
* [[List of Irish companies]]

==References==
<references />

==External links==
*[http://www.aib.ie Official site]
* {{PM20|FID=co/000934|TEXT=Documents and clippings about|NAME=}}

{{Banks of Ireland}}
{{ISEQ 20 companies}}
{{Members of Euro Banking Association}}
{{Commercial and retail banks in the United Kingdom}}
{{Authority control|state=expanded}}

[[Category:Allied Irish Banks| ]]
[[Category:Banks established in 1966]]
[[Category:Banks of Ireland]]
[[Category:Banks of the United Kingdom]]
[[Category:Companies listed on Euronext Dublin]]
[[Category:Companies in the ISEQ 20]]
[[Category:Rogue trading banks]]
[[Category:2017 initial public offerings]]
[[Category:Financial services companies based in Dublin (city)]]
[[Category:Irish companies established in 1966]]
[[Category:Irish brands]]
[[Category:Banks under direct supervision of the European Central Bank]]