In advance of its Annual General Meeting, Allied Irish Banks, p.l.c. (AIB) has issued an update on business and key performance trends.
AIB expects the bad debt charge for 2009 to be around €4.3 bn, c. 325 basis points of average loans.
The bank stated their key macro assumptions for Ireland are now more negative than in the stress scenario presented at our results announcement in March, which predicted a bad debt charge of €4bn.