AIB chief executive Colin Hunt expects “another number” of interest rate hikes this year as the lender looks forward to a significant rise in income. Mr Hunt did not reveal if and when AIB depositors might benefit from the rate hikes, saying only that it was “an area of active consideration at the moment”. The group expects net interest income of more than €3.3bn for the year, thanks to ECB hikes. But Mr Hunt and the AIB board faced some pushback from small shareholders at its AGM over its policy on deposit rates. Mr Hunt said the bank was first out of the traps to set higher deposit rates when the European Central Bank first began hiking last July.

Source: Irish Independent May 04, 2023 22:39 UTC