AIB has cancelled a planned London unveiling of its chief executive’s strategic vision for the lender on Friday in favour of hosting the event for analysts at its Dublin headquarters. The move follows an increase in the number of businesses stopping non-essential travel to help prevent the spread of coronavirus. “Instead, beyond 2020 guidance, granularity is likely to be limited to the more controllable objectives of cost efficiency and significant non-performing loan reduction alongside parameters for capital return,” he said. Still, analysts estimate that AIB will point towards a 10 per cent Rote objective to be achieved over the long term. Bank of Ireland last week abandoned its aim to hit a 10 per cent Rote ratio in 2021, even though it continues to strive to meet this level over time.

Source: The Irish Times March 03, 2020 13:18 UTC