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Allied Irish Banks announces large narrowing of losses

Allied Irish Banks, which is almost totally state-owned after a rescue, said on Wednesday that its losses after tax more than halved last year. AIB's net loss reduced to 1.597 billion euros ($2.193 billion) compared with 3.557 billion euros in 2012, said the bank that is 99.8-percent owned by the Dublin government following a bailout five years ago amid the global financial crisis. Excluding provisions for charges written-off, which dropped 25 percent to 1.9 billion euros last year, AIB reported operating profit of 445 million euros.

Allied Irish Banks announces large narrowing of losses

Allied Irish Banks, which is almost totally state-owned after a rescue, said on Wednesday that its losses after tax more than halved last year. AIB's net loss reduced to 1.597 billion euros ($2.193 billion) compared with 3.557 billion euros in 2012, said the bank that is 99.8-percent owned by the Dublin government following a bailout five years ago amid the global financial crisis. Excluding provisions for charges written-off, which dropped 25 percent to 1.9 billion euros last year, AIB reported operating profit of 445 million euros.

Factbox: Europe's leaders and laggards in sale of bailed-out banks

(Reuters) - Spain sold part of its stake in bailed out lender Bankia on Friday to start the process of returning the country's biggest bailed-out bank to private ownership. Governments rescued dozens of banks during the 2007-2009 global financial crisis. Some countries, such as Switzerland and the United States, then moved quickly to sell their shareholdings. Others, including Britain and the Netherlands, have taken longer. Here is a rundown of progress for major banks in Europe: SPAIN

Bank of Ireland follows AIB on recovery path

Bank of Ireland held up the prospect of a return to profits on Friday when it reported a big cut in first-half losses. The bank, which is still turning itself around from the Irish property and banking crisis which forced the country into a bailout, reported a net loss of 454 million euros ($599 million) from 1.1 billion euros in the same period of last year. The Irish state owns 15.0 percent of the bank since it was rescued at the height of the crisis.

Losses narrow at bailed out Allied Irish Banks

Allied Irish Banks, rescued during the financial crisis, said on Thursday that its losses after tax narrowed by almost a third in the first six months of 2013 compared with the outcome a year earlier. Losses after tax amounted to 758 million euros ($1.006 billion) in the six months to the end of June, compared with a net loss of 1.054 billion euros in the equivalent period of 2012, the bank said in a results statement.

Rescued Irish bank AIB posts soaring annual losses

State-rescued Allied Irish Banks on Tuesday announced soaring annual net losses, despite massively scaling down its provisions for bad loans. The bank's after-tax loss jumped to 3.6 billion euros ($4.6 billion) in 2012, compared with a shortfall of 2.3 billion euros in 2011, AIB said in a statement. Allied Irish Banks, once one of Ireland's biggest banks, is almost fully state owned after receiving enormous taxpayer funds following Ireland's own financial rescue by the EU and IMF.

Rescued Irish bank AIB posts soaring annual losses

State-rescued Allied Irish Banks on Tuesday announced soaring annual net losses, despite massively scaling down its provisions for bad loans. The bank's after-tax loss jumped to 3.6 billion euros ($4.6 billion) in 2012, compared with a shortfall of 2.3 billion euros in 2011, AIB said in a statement. Allied Irish Banks, once one of Ireland's biggest banks, is almost fully state owned after receiving enormous taxpayer funds following Ireland's own financial rescue by the EU and IMF.

UPDATE 1-Allied Irish raises further 500 mln euros via bond

DUBLIN, Jan 22 (Reuters) - Allied Irish Banks said it raised 500 million euros ($665 million) via a three-and-a-half-year bond on Tuesday, the state-owned lender's second issue in a matter of weeks as it gradually returns to regular market funding. AIB raised 500 million euros through a three-year sale in November, the first time the bank issued a bond backed by Irish mortgages and without the assistance of a state guarantee since 2007.

UK judge slams banks defrauded by fake tycoon

LONDON, Jan 17 (Reuters) - A British judge sentenced a fake tycoon who defrauded two banks out of 769 million pounds to seven years in jail on Thursday but said the banks bore some responsibility because of their poor checks. Achilleas Kallakis, 44, was convicted of fraud on Wednesday for obtaining 740 million pounds ($1.18 billion) in loans from Allied Irish Banks on false premises, in one of Britain's biggest real estate scams. He used the money to buy properties and fund a millionaire lifestyle.
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