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Report: AIB set to pay dividend to Irish government


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Report: AIB set to pay dividend to Irish government

Allied IrishBanks Plc is on the brink of being able to issue a"prudent" dividend to Ireland's government, according to the firm'schairman.

Richard Pym also told TheIrish Times that the bank's legacy problems have been more or less solved,with nonperforming loans "contained," and the capital position"restored." He said the government could sell its stake in the bankwhenever it saw fit.

An AIB spokeswoman declined tocomment on the schedule or size of the dividend, although the paper said anannouncement could be made within the coming six months.

Pym also added that Britain's decision to leave the EU hasopened up substantial opportunities for Ireland in the long term and expectedthe country to be more attractive for foreign investors.