AIB Group plc (A5G) Earnings Call Transcript & Summary

Hello. As 2023 comes to an end, I'd like to reflect on the last 3 years of strategic development, which have reshaped AIB Group as a leading financial services provider, well positioned for the future and poised to build on our achievements. It was another year of significant customer growth, and we're closing it out in a position of strength. This summer, we completed the acquisition of the Ulster Bank corporate and commercial loan book. And we're on track to complete the migration of the Ulster Bank tracker mortgage portfolio next year. We reached 2 milestones that have enhanced our product suite for customers this year: AIB Life, our joint venture with Great-West LifeCo, launched in May, offering protection, pension and investment products using a convenient technology-first platform. And we launched Goodbody Private, which offers our customers the products and services of and Goodbody in partnership with AIB Private Banking. We are now a full service provider and can truly be at the heart of our customer financial lives. We've continued to invest in technology to improve the digital journey for our customers and enhance our fraud monitoring systems to protect against new and existing threats. Another significant milestone achieved in 2023 was the return of the group to majority private ownership, an important development in the process of returning the state's investment in the group and in normalizing the share register. We continue to make great strides in supporting our customers in the transition to a low-carbon economy. Just last month, we announced the tripling of our AIB Climate Action Fund to EUR 30 billion by 2030, available for green and transition financing activities. Looking ahead, we are now preparing for the next phase of the group's development, and we remain committed to the creation of value for all our stakeholders and delivery of sustainable returns. We want to support our customers to thrive in the ways that matter most to them, meeting and exceeding their needs at all life stages, both personally and in business. I want to thank our customers for their business in 2023. And I thank my colleagues who continue to support our customers and each other with energy and enthusiasm throughout the year. I wish you all a very happy, healthy and joyous festive season.