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Fixed remuneration (audited)
Base salaries of the Chief Executive Officer and the Chief Financial Officer were increased to \u20ac795,000 and \u20ac700,000 respectively during 2025, following
the removal of the Irish Government\u2019s salary cap restriction. The Chief Executive Officer and Chief Financial Officer received a non-pensionable cash
allowance of \u20ac30,000. The Chief Executive Officer received an employer pension contribution of 20% (\u20ac125,000) which was taken as an allowance in
lieu of pension contribution. The Chief Financial Officer also received an employer pension contribution of 20% (\u20ac115,000).
The following table details the total remuneration of the Directors in office during 2025 and 2024:
2025
2024
Salary
Pension
contribution1
Annual
taxable
benefits2
Total
fixed
Variable
remuneration
Total
Salary
Pension
contribution1
Annual
taxable
benefits2
Total
fixed
Variable
remuneration
Total
(audited)
\u20ac 000
\u20ac 000
\u20ac 000
\u20ac 000
\u20ac 000
\u20ac 000
\u20ac 000
\u20ac 000
\u20ac 000
\u20ac 000
\u20ac 000
\u20ac 000
Executive
Directors
Colin Hunt
623
125
32
780
13
793
500
100
31
631
13
644
Donal Galvin
575
115
32
722
13
735
485
97
31
613
13
626
1,198
240
64
1,502
26
1,528
985
197
62
1,244
26
1,270
1. Pension contribution represents agreed payments to a defined contribution scheme, to provide post-retirement pension benefits for Executive Directors from the normal retirement date, and an
allowance in lieu where Executive Directors\u2019 accumulated pension benefits have exceeded or are likely to exceed the Standard Fund Threshold (SFT).
2. Annual taxable benefits represents a non-pensionable cash allowance in lieu of a company car, in addition to medical insurance and other contractual benefits.
Non-Executive Directors\u2019 remuneration (audited)
The following table details the total remuneration of the Directors in office during 2025 and 2024:
2025
2
0
2
4
2024
Directors\u2019 Fees
Directors\u2019 Fees
Non-Executive Directors1
\u20ac 000
\u20ac 000
Anik Chaumartin
83
80
Basil Geoghegan
76
75
Tanya Horgan
80
80
Sandy Kinney Pritchard
95
95
Elaine MacLean 2
105
85
Andy Maguire3
115
115
Brendan McDonagh (Deputy Chair)
135
135
Helen Normoyle4
63
188
Ann O'Brien5,7
130
130
Fergal O'Dwyer6
156
155
Jim Pettigrew (Chair)
365
365
Jan Sijbrand
80
80
Raj Singh7
80
80
Anne Sheehan8
23
\u2014
Total
1,586
1,663
1. All Non-Executive Directors were paid a basic, non-pensionable fee in respect of service as a Director of \u20ac65,000 and additional non-pensionable remuneration in respect of other responsibilities,
such as through the chairing or membership of Board Committees or performing the role of Deputy Chair or Senior Independent Director. Current or former Directors who serve on the Board of any
Group Irish subsidiary company are also paid a non-pensionable flat fee for their services as a Director, chairing or membership of Board Committees.
2. The material increase in the fees received by Elaine MacLean reflect her change in role (assuming the role of SID) during the year.
3. Andy Maguire was paid \u20ac35,000 in 2025 (2024: \u20ac35,000), in respect of his role as a Director of AIB Mortgage Bank Unlimited Company.
4. Current or former Non\u2011Executive Directors of AIB Group plc and Allied Irish Banks, p.l.c., as applicable, who also serve as Directors of AIB Group (UK) p.l.c. (AIB UK) are separately paid a
non-pensionable flat fee, which is independently agreed and paid by AIB UK, in respect of their service as a Director of that company. In that regard, Helen Normoyle earned fees during 2025
of \u20ac24,000 (2024: \u20ac73,000). Helen Normoyle stepped down from both the AIB Group and UK boards during 2025.
5. Ann O\u2019Brien was paid \u20ac40,000 in 2025 (2024: \u20ac40,000) in respect of her role as a Director of EBS d.a.c.
6. Fergal O\u2019Dwyer earned fees during 2025 of \u20ac80,000 (2024: \u20ac80,000) in his role as Director and Chair of the Audit Committee of Goodbody.
7. Ann O\u2019Brien and Raj Singh resigned as Non-Executive Directors with effect from 31 December 2025.
8. Anne Sheehan was appointed as a Non-Executive Director during 2025.
(i) Transactions with Key Management Personnel
Loans to KMP and their close family members (CFM) are made in the ordinary course of business on substantially the same terms, including interest
rates and collateral, as those prevailing at the time for comparable transactions with other persons of similar standing not connected with the Group,
and do not involve more than the normal risk of collectability or present other unfavourable features. Loans to Directors and Senior Executive Officers
are made on terms available to other employees in the Group generally, in accordance with established policy, within limits set\u00a0on a case by case basis.
2025
2024
Balance at
1\u00a0January
2025
Balance at
31 December
20251
Total number
of relevant
KMP/CFM at
1 January
2025
Total number
of relevant
KMP/CFM at
31 December
20251
Balance at
1 January
2024
Balance at
31 December
2024
Total number
of relevant
KMP/CFM at\u00a0
1 January
2024
Total number
of relevant
KMP/CFM at
31 December
2024
\u20ac 000
\u20ac 000
\u20ac 000
\u20ac 000
Loans
2,281
1,373
15
15
1,975
2,281
13
15
Deposits
2,211
1,581
33
32
2,084
2,211
29
33
1. Excludes the KMP not in role, and their CFM, as at 31 December 2025.
Total commitments outstanding refers to the total of any undrawn amounts on credit cards and/or overdraft facilities provided to KMP and their CFM. Total
commitments\u00a0 outstanding as at 31 December 2025 were \u20ac0.08 million (2024: \u20ac0.09 million). An expected credit loss allowance is held for all loans\u00a0and
advances. A total expected credit loss allowance of less than \u20ac500 was held on the facilities disclosed in the table above at 31 December 2025 (2024: \u20ac1,000).
45\u00a0 Related party transactions continued
(e) IAS 24 Related Party Disclosures continued
(ii) Compensation of Key Management Personnel
Details of compensation paid to KMP are provided below. The figures shown include the figures separately reported in respect of Directors\u2019
remuneration on pages 161 and 162.
2025
2024
\u20ac m
\u20ac m
Short term benefits (salaries, fees and other short-term benefits)
8.2
8.4
Post-employment benefits1
1.1
1.1
Termination benefits
0.6
\u2014
Total compensation of key management personnel
9.9
9.5
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Group Credit Risk Framework (audited)
The Group implements and operates policies to govern the identification,
assessment, approval, monitoring and reporting of credit risk. The Group
Credit Risk Framework is the overarching Board approved document
which sets\u00a0out the principles of how the Group identifies, assesses,
approves, monitors and reports credit risk to ensure that robust credit risk
management is in place. This document contains the minimum standards
and principles that are applied across the Group to provide a common,
robust and consistent approach to the management of credit risk. The
Group Credit Risk Framework is supported by a suite of credit policies,
standards and guidelines which define in greater detail the minimum
standards and credit risk metrics to be applied for specific products,
business lines and market segments.
Credit approval overview (audited)
The Group operates credit approval criteria which:
\u2022 Include a clear indication of the Group\u2019s target market(s), in\u00a0line\u00a0with
Group and segment risk appetite statements;
\u2022 Require a thorough understanding and assessment of the borrower or
counterparty, as well as the purpose and structure of credit, and the
source of repayment; and
\u2022 Enforce compliance with minimum credit assessment and facility
structuring standards.
Credit risk approval is undertaken by professionals operating within a defined
delegated authority framework. However, for certain selected retail portfolios,
scorecards and automated strategies (together referred to as \u2018score enabled
decisions\u2019) are deployed to automate and to support credit decisions and
credit management (e.g. score enabled auto-renewal of overdrafts).
The Board is the ultimate credit approval authority in the Group. The Board
has delegated credit authority to various credit committees and to the
Chief Credit Officer (CCO). The CCO is permitted to further delegate this
credit authority to individuals within the Group on a risk appropriate basis.
Credit limits are approved in accordance with the Group\u2019s risk policies
and\u00a0guidelines.
All exposures above certain levels require approval by the Group Credit
Committee (GCC) and/or Board. Other exposures are approved according
to a structure of tiered individual authorities which reflect credit
competence, proven judgement and experience. Depending on the
borrower/connection, grade and the level of exposure, limits are
sanctioned by the relevant credit authority. Material lending proposals are
referred to credit units for independent assessment/approval or
formulation of a recommendation and subsequent adjudication by the
applicable approval authority.
The Group also has in place an Interbank Exposure Policy which
establishes the maximum exposure for each counterparty bank,
depending on credit grade rating. Each bank is assessed for the
appropriate maximum exposure limit in line with the policy. Risk
generating business units in each segment are required to have an
approved bank and country limit prior to granting any credit facility, or
approving any credit obligation or commitment which has the potential to
create interbank or country exposure.
Credit risk organisation and structure (audited)
The Group\u2019s credit risk management structure operates through a\u00a0hierarchy
of lending authorities. All customer loan requests are subject to a credit
assessment process. The role of the Credit Risk function is to provide
direction, independent oversight of and challenge to credit risk-taking.
Internal credit ratings (audited)
One of the objectives of credit risk management is to accurately quantify the
level of credit risk to which the Group is exposed through the initial credit
approval and ongoing review process. All\u00a0relevant exposures are assigned
to a rating model and within that to an internal risk grade (rating). A grade is
assigned on the basis of rating criteria within each rating model from which
estimates of probability of default (PD) are derived.
Internal credit grades are fundamental in assessing the credit quality of loan
exposures, and for assessing capital requirements for portfolios where prior
regulatory approval has been received. Internal credit grades are key to
management reporting, credit portfolio analysis, credit quality monitoring
and in determining the level and nature of management attention applied to
exposures. Changes in the objective information are reflected in the credit
grade of the borrower/loan with the resultant grade influencing the
management of individual loans. In line with the Group\u2019s credit management
lifecycle, heightened credit management and special attention is paid to
lower quality performing loans or \u2018criticised\u2019 loans and non-performing/
defaulted loans, which are defined below.
Using internal models, the Group utilises a credit grading masterscale that
gives it the ability to categorise credit risk across different rating models and
portfolios in a\u00a0consistent manner. The masterscale consolidates complex
credit information into a single attribute, aligning the output from the risk
models with the Group\u2019s Forbearance and Definition of Default and Credit
Impairment policies. The masterscale grades are driven by grading model
appropriate through-the-cycle PDs combined with other asset quality
indicators such as default, forbearance and arrears in order to provide the
Group with a mechanism for ranking and comparing credit risk associated
with a range of customers.
The masterscale categorises loans into a broad range of grades which can
be summarised into the following categories: strong/satisfactory grades;
criticised grades; and non-performing/default loans. The profile of the
Group\u2019s loan portfolio under each of the above grade categories is set out
on page 202.
The IFRS 9 PD modelling approach uses a combination of rating grades
and scores obtained from these credit risk models along with key factors
such as the current/recent arrears status or the current/recent
forbearance status and macroeconomic factors to obtain the relevant
IFRS 9 12 month and Lifetime PDs (i.e. point-in-time). The Group has set
out its methodologies and judgements exercised in determining its
expected credit loss under IFRS 9 on pages 185 to 196.
Strong/satisfactory (audited)
Accounts are considered strong/satisfactory if they have no current or
recent credit distress and the probability of default is typically less than
6.95%, they are not in arrears and there are no indications that they are
unlikely to repay:
\u2022 Strong (typically with a PD less than 0.99%): Strong credit with no
weakness evident.
\u2022 Satisfactory (typically with a PD greater than or equal to 0.99% and less
than 6.95%): Satisfactory credit with no weakness evident.
Criticised (audited)
Accounts of lower credit quality and considered as less than satisfactory
are referred to as criticised and include the following:
\u2022 Criticised watch: The credit is exhibiting weakness in terms of credit
quality and may need additional management attention; the credit may
or may not be in arrears.
\u2022 Criticised recovery: Includes forborne cases that are classified
as\u00a0performing including those which have transitioned from
non\u2011performing forborne, but still require additional management
attention to monitor for re-default and continuing improvement in terms
of credit quality.
Non-performing/default (audited)
The Group\u2019s definition of default is aligned with the EBA\u2019s \u2018Guidelines on
the application of the definition of default\u2019 under Article 178 of the Capital
Requirements Regulation and the ECB Banking Supervision \u2018Guidance to
banks on non-performing loans\u2019.
The Group has aligned the definitions of \u2018non-performing\u2019, \u2018classification
of default\u2019 and IFRS 9 Stage 3 \u2018credit impaired\u2019, with the exception of loans
measured at fair value through profit or loss, and those loans which have
been derecognised and newly originated in Stage 1 or POCI (purchased or
originated credit impaired) which are no longer classified as credit
impaired but continue to be classified as non-performing and in default.
This alignment ensures consistency with the Group\u2019s internal credit risk
management and assessment practices.
Loans are identified as non-performing or defaulted by a number of
characteristics. The key criteria resulting in a classification of non-
performing are:
\u2022 Where the Group considers a borrower to be unlikely to pay their loans
in full without realisation of collateral, regardless of the existence of any
past-due amount; or
\u2022 The borrower is 90 days or more past due on any material loan. Day
count starts when any material amount of principal, interest or fee has
not been paid by a borrower on the due date.
The criteria for the definition of financial distress and forbearance are
included in the Group\u2019s Forbearance Policy. Criteria for the identification
of non-performing exposures and unlikeliness to pay are included in the
Group\u2019s Definition of Default and Credit Impairment Policy.
2.1 Credit risk continued
Credit risk monitoring (audited)
The Group has developed and implemented processes and information
systems to monitor and report on individual credits and credit portfolios in
order to manage credit risk effectively. There was significant investment by
the Group during 2025 as part of the annual review of the Group Credit
Management Policy. This review incorporated material changes to reflect
the introduction of the revised Credit Management Lifecycle. It\u00a0is\u00a0the
Group\u2019s practice to ensure that adequate up-to-date credit\u00a0management
information is available to support the credit management of individual
account relationships and the overall loan portfolio. Credit risk, at a
portfolio level, is monitored using key risk indicators and early warning
indicators which are reported regularly to senior management and to the
Board Risk Committee. Credit managers proactively manage the Group\u2019s
credit risk exposures at a transaction and relationship level. Monitoring
includes credit exposure and excess management, regular review of
accounts, being up-to-date with any developments in customer business,
obtaining updated financial information and monitoring of covenant
compliance. This is reported on a regular basis to senior management and
includes information and detailed commentary on loan book growth,
quality of the loan book and expected credit losses including individual
large non-performing exposures.
Changes in sectoral and single name concentrations are tracked on
a\u00a0regular basis highlighting changes to risk concentration in the Group\u2019s
loan book. The Group allocates significant resources to ensure ongoing
monitoring and compliance with approved risk limits. Credit risk, including
compliance with key credit risk limits, is monitored monthly and is
periodically reported to senior management and to the Board Risk
Committee. Once an account has been placed on a watch list, the
exposure is carefully monitored and where appropriate, exposure
reductions are\u00a0effected.
As a matter of policy, non-retail facilities are subject to a review on, at
least, an annual basis, even when they are performing satisfactorily.
Annual review processes are supplemented by more frequent portfolio
and case review processes in addition to arrears or excess management
processes. Borrowers may be subject to an \u2018unlikely to pay\u2019 test at the
time of annual review, or earlier, if there is a material adverse change or
event in their credit risk profile.
Through a range of forbearance solutions, as outlined on page 221, the
Group employs a dedicated approach to loan workout, monitoring and
proactive management of non-performing loans. A specialised recovery
function focuses on managing the majority of criticised loans and deals
with customers in default, collection or insolvency. Their mandate is to
support customers in\u00a0difficulty while maximising the return on non-
performing loans. Whilst the basic principles for managing weaknesses
in corporate, commercial and retail exposures are broadly similar, the
solutions reflect the differing nature of the assets. Further details on
forbearance are set out in section 2.1.6 - Forbearance overview.
Credit risk mitigants (audited)
The perceived strength of a borrower\u2019s repayment capacity is the\u00a0primary
factor in granting a loan. However, the Group uses various approaches to
help mitigate risks relating to individual credits, including transaction
structure, collateral and guarantees. The main types of collateral for loans
and advances to customers are described under the following section on
collateral. Credit policy and credit management standards are controlled
and set centrally by the Credit Risk function.
Occasionally, credit derivatives are purchased to hedge credit risk.
Current levels are modest and their use is subject to the normal credit
approval process.
The Group enters into netting agreements for derivatives with certain
counterparties, to ensure that in the event of default, all amounts
outstanding with those counterparties will be settled on a\u00a0net basis.
Depending on the size of the potential exposure derivative transactions
with wholesale counterparties are typically collateralised under a
Credit\u00a0Support Annex in conjunction with the International Swaps and
Derivatives Association (ISDA) Master Agreement.
Collateral (audited)
Collateral and/or guarantees are generally taken as a secondary source of
repayment in the event of borrower default, in accordance with Group
lending policies.
The principal collateral types for loans and advances are:
\u2022 Charges over business assets such as premises, inventory and receivables;
\u2022 Charges over other plant and machinery and marine vessels;
\u2022 Mortgage or legal charge over residential and commercial property; and
\u2022 Charges over financial instruments such as debt securities and\u00a0equities.
Collateral requirements vary by facility type, term and exposure amount. Debt
securities and treasury products are typically unsecured, except for asset
backed securities, which are secured by a portfolio of financial assets.
Collateral is not usually held against loans/advances to banks or central
banks, except where securities are held within reverse repurchase or
securities borrowing transactions, where collateral agreement is governed
by master netting agreements or where the bank purchases covered bonds.
Where collateral is taken for non-mortgage/non-property lending, it will
typically include a charge over the business assets such as inventory and
accounts receivable. A charge over property collateral or a personal
guarantee supported by a lien over personal assets may also be taken.
Valuations or business appraisals from independent external professionals
are utilised in many cases where cash flows arising from the realisation of
collateral are included in the expected credit loss assessments.
Methodologies for valuing collateral (audited)
Details on the valuation rule methodologies applied and processes used
to assess the value of property assets taken as collateral are described in
the Group Property Valuation Policy and are subject to an annual review.
As property loans, including residential mortgages, represent a\u00a0significant
concentration within the Group\u2019s loans and advances to customers
portfolio, some key principles have been applied in respect of the
valuation of property collateral held by the Group.
The value of property collateral is assessed at loan origination and\u00a0at
certain stages throughout the credit lifecycle in accordance with the
Group Property Valuation Policy, e.g. at annual review, where required.
In accordance with the Group Property Valuation Policy, the valuation
approaches follow Global International Valuation Standards for secured
lending purposes. All valuations undertaken by the Group\u2019s panel of
valuers must adhere to the valuation approaches outlined in these
standards. The Group employs a number of methods to assist in reaching
appropriate valuations for property collateral held:
(a) External valuation firms on the Group\u2019s Valuers Panel, are engaged by
the Group to undertake valuations of immovable property collateral in
accordance with the rules set out in the Group Property Valuation Policy.
(b) Independent professional internal valuations are completed in limited
circumstances (e.g. agricultural land) using a desktop valuation
approach by professionally qualified internal valuers who are
independent of the credit process in the 2LOD. The assets being
valued by this means must have an independent professional external
valuation completed within the past three years.
2.1 Credit risk continued
Credit risk mitigants continued (audited)
Collateral and ECLs (audited)
Applying one or a combination of the above methodologies, in line\u00a0with the
Group Property Valuation Policy, has resulted in an appropriate range of
adjustments to original collateral valuations, influenced by the nature,
status and year of purchase of the asset. The frequency and availability
of such up-to-date valuations remain a key factor in ECL determination.
Additionally, relevant costs likely to be associated with the realisation of
the collateral are taken into account in the cash flow forecasts. The
spread of discounts is influenced by the type of collateral, e.g. land,
developed land or investment property and also its location. The\u00a0valuation
arrived at, is therefore, a function of the nature of\u00a0the asset.
When assessing the level of ECL allowance required for property loans,
apart from the value to be realised from the collateral, other cash flows,
such as recourse to other assets or sponsor support, are also considered,
where available. The other key driver is the time it takes to receive the
funds from the realisation of collateral. While this depends on the type of
collateral and the stage of its development, the period of time to realisation
is typically one to five years but sometimes this time period is exceeded.
These estimates are periodically reassessed on a case by case basis.
When undertaking an ECL review for individually assessed cases that have
been deemed unlikely to pay, the present value of future cash flows,
including the value of collateral held, and the likely time required to realise
such collateral is estimated. An ECL allowance is raised for the difference
between this present value and the carrying value of the loan. When
multiple discounted cash flows are captured where the gross credit
exposure is \u2265 \u20ac5 million (Republic of Ireland) or \u2265 \u00a35 million (UK) or cases
in scope for the Group Leveraged Lending Policy, the value of collateral is
adjusted to reflect the impacts of up and downside scenarios for these
higher value exposures.
Securities financing (audited)
In addition to the credit risk mitigants, the Group, from time to time, enters
securities financing transactions. Securities financing consists of securities
borrowing transactions, reverse repurchase agreements and securities sold
under agreements to repurchase. At 31\u00a0December 2025, the total fair value of
the collateral received was \u20ac7,339 million (2024: \u20ac6,643 million) in relation to
reverse repurchase agreements and securities borrowing transactions (note
18 to the consolidated financial statements).
Derivatives (audited)
Derivative financial instruments are recognised in the statement of
financial position at their fair value. Those with a positive fair value
are\u00a0reported as assets which at 31 December 2025 amounted to \u20ac1,641
million (2024: \u20ac2,144 million) and those with a negative fair value are
reported as liabilities which at 31 December 2025 amounted to \u20ac1,408
million (2024: \u20ac1,807 million).
The enforcement of netting agreements would potentially reduce the
statement of financial position carrying amount of derivative assets and
liabilities by \u20ac1,173 million at 31 December 2025 (2024: \u20ac1,385 million).
The Group also has Credit Support Annexes (CSAs) in place which provide
collateral for derivative contracts. At 31 December 2025,\u00a0 \u20ac111 million
(2024: \u20ac698 million) of CSAs are included within financial assets as
collateral for derivative liabilities and \u20ac497 million (2024: \u20ac814 million) of
CSAs are included within financial liabilities as collateral for derivative
assets (note 37 to the consolidated financial statements). Additionally, the
Group has agreements in place which may allow it to net the termination
values of cross currency swaps upon occurrence of an event of default.
Risk transfer (audited)
The Group also uses other credit risk mitigation and protection techniques
such as credit risk transfers to optimise exposure to credit risk and reduce
potential credit losses associated with credit events, such as defaults or
downgrades in credit quality. At a portfolio level, credit risk is assessed in
relation to the degree of single name, sectoral asset class and geographic
concentrations. To manage credit risk exposure in the event of emerging
risk concentrations, the risk capital implications are assessed and, where
appropriate, risk transfer options (e.g. loan disposals, securitisations,
etc.) are considered.
In December 2025, the Group executed a significant risk transfer on a
\u20ac1.97 billion portfolio of residential mortgage loans assets. This
transaction reduced the Group\u2019s credit risk exposure, and consequently
the risk weighted assets on the reference portfolio of loan assets, through
a combination of a risk sharing whereby the subscribers of credit linked
notes assume the credit risk for \u20ac49.8 million of potential credit losses on
the reference portfolio of loan assets and a series of insurance policies
with highly rated (re)insurance companies that provide protection for the
credit risk of an additional \u20ac270.8 million of potential credit losses on the
same portfolio.
In 2024, the Group executed a significant risk transfer involving a \u20ac1 billion
portfolio (2025: \u20ac663.8 million) of corporate loan assets. That transaction
reduced the Group\u2019s credit risk exposure and risk-weighted assets
associated with the reference portfolio through a structured risk-sharing
arrangement. Under that arrangement, credit linked note subscribers
accepted credit risk for up to \u20ac97.5 million (2025: \u20ac64.7 million) in
potential losses on the reference portfolio.
Measurement, methodologies and judgements
Introduction (audited)
The Group has set out the methodologies used and judgements exercised
in determining its expected credit loss allowance for the year to 31
December 2025.
The Group, in estimating its ECL allowance, does so in line with the
expected credit loss impairment model as set out by the International
Financial Reporting Standard (IFRS) 9 Financial Instruments (\u2018the
standard\u2019). This model requires a timely recognition of ECL across the
Group. The\u00a0standard does not prescribe specific approaches to be used in
estimating ECL allowance, but stresses that the approach must reflect the
following:
\u2022 An unbiased and probability weighted amount that is determined by
evaluating a range of possible outcomes;
\u2022 Underlying models should be point-in-time and forward looking \u2013
recognising economic conditions;
\u2022 The ECL must reflect the time value of money;
\u2022 A lifetime ECL is calculated for financial assets in Stages 2 and 3 and
Purchased or Originated Credit Impaired (POCI); and
\u2022 The ECL calculation must incorporate reasonable and supportable
information that is available without undue cost or effort at the
reporting date about past events, current conditions and forecasts of
future economic conditions.
The standard defines credit loss as the difference between all contractual
cash flows that are due to an entity in accordance with the contract
and all the cash flows that the entity expects to receive (i.e. all cash
shortfalls), discounted at the original effective interest rate (EIR) or an
approximation thereof.
ECLs are defined in the standard as the weighted average of credit losses
across multiple macroeconomic scenarios, with weights assigned based
on the probability of each scenario occurring, and are an estimate of
credit losses over the life of a\u00a0financial instrument.
The ECL model applies to financial instruments measured at amortised
cost or at fair value through other comprehensive income. In addition,
the ECL approach applies to lease receivables, loan commitments and
financial guarantee contracts that are not measured at fair value through
profit or loss.
2.1 Credit risk continued
Measurement, methodologies and judgements continued
Introduction continued (audited)
A key principle of the ECL model is to reflect any relative deterioration
or improvement in the credit quality of financial instruments occurring
(e.g. change in the risk of default). The\u00a0ECL amount recognised as a loss
allowance or provision depends on the extent of credit deterioration since
initial recognition together with the impact on credit risk parameters.
Bases of measurement (audited)
Under the standard, there are two measurement bases:
1. 12-month ECL (Stage 1), which applies to all financial instruments from
initial recognition as long as there has been no significant increase in
credit risk; and
2. Lifetime ECL (Stages 2 and 3 and POCI), which applies when a
significant increase in credit risk has been identified on an account
(Stage 2), an account has been identified as being credit-impaired
(Stage 3) or when an account meets the POCI\u00a0criteria.
Staging (audited)
Financial assets are allocated to stages dependent on credit quality
relative to when assets were originated. A financial asset, including
financial assets acquired by the Group, can only originate in either Stage 1
or POCI.
Credit risk at origination (audited)
Credit risk at origination (CRAO) is a key input into the staging allocation
process. The origination date of an account is determined by the date on
which the Group became irrevocably committed to the contractual
obligation and the account was first graded on an appropriate model.
For undrawn credit facilities, the Group uses the date of origination as the
date when it becomes party to the irrevocable contractual arrangements
or irrevocable commitment. For overdrafts which have both drawn and
undrawn components, the date of origination is the same for both. The
Group uses best available information for facilities which originated prior
to a credit risk rating model or scorecard being in\u00a0place.
For accounts that originated prior to 1 January 2018, a neutral view of the
macroeconomic outlook at the time is used, i.e. where macroeconomic
variables are used in the Lifetime PD models, long-run averages are used
instead of historical forecasts.
Stage 1 characteristics (audited)
Obligations are classified Stage 1 at origination or at acquisition by the
Group, unless POCI, with a 12 month ECL being recognised. These
obligations remain in Stage 1 unless there has been a significant increase
in credit risk.
Accounts can also return to Stage 1 if they no longer meet either the Stage
2 or Stage 3 criteria, subject to satisfaction of the appropriate probation
periods, in line with regulatory requirements.
Stage 2 characteristics (audited)
Obligations where there has been a \u2018significant increase in credit
risk\u2019 (SICR) since initial recognition but do not have objective evidence of
credit impairment are classified as Stage 2. For these assets, lifetime
ECLs are recognised.
The Group assesses at each reporting date whether a significant increase
in credit risk has occurred on its financial obligations since their initial
recognition. This assessment is performed on individual obligations,
however where appropriate, a collective assessment at a portfolio level can
be undertaken. If the increase is considered significant, the obligation will
be allocated to Stage 2 and a lifetime ECL will apply to the obligation. If the
change is not considered significant, a 12 month ECL will continue to apply
and the obligation will remain in Stage 1.
SICR assessment (audited)
The Group\u2019s SICR assessment is determined based on both quantitative
and qualitative measures:
Quantitative measure: This measure reflects an arithmetic assessment of
the change in credit risk arising from changes in the probability of default.
The Group compares each obligation\u2019s annualised average probability
weighted residual origination lifetime probability of default (LTPD) (see
Credit risk at origination) to its current estimated annualised average
probability weighted residual LTPD at the reporting date. If the difference
between these two LTPDs meets the quantitative definition of SICR, the
Group transfers the financial obligation into\u00a0Stage 2. Increases in LTPD
may be due to credit deterioration of the individual obligation or due to
macroeconomic factors or a\u00a0combination of both. The Group has
determined that an account had met the quantitative measure if the
average residual LTPD at\u00a0the reporting date was at least double the
average residual LTPD at origination, and the difference between the
LTPDs was at least 50bps or 85bps in the case of residential mortgages.
For lower default models, such as Treasury Debt Securities or Project
Finance, individual calibrated thresholds are applied. The
appropriateness of these thresholds are kept under review by the\u00a0Group.\u00a0
Qualitative measure: This measure reflects the assessment of the change
in credit risk based on the Group\u2019s credit management and the individual
characteristics of the financial asset. This is not model driven and seeks to
capture any change in credit quality that may not be already captured by
the quantitative criteria.
The qualitative assessment reflects proactive credit management including
monitoring of account activity on an individual or portfolio level, knowledge
of client behaviour and cognisance of industry and economic trends.
The criteria for this qualitative trigger include, for example:
\u2022 A downgrade to watch grade of the borrower\u2019s/facility\u2019s credit grade
reflecting the increased credit management focus on these accounts;
and/or
\u2022 Forbearance has been provided and the account is within the
probationary period and the forbearance treatment does not result in
Stage 3 classification.
\u2022 Lender assessed SICR triggers: For non-retail portfolios, a suite of
lender assessed triggers are in place to ensure appropriate and timely
identification of increased credit risk, which when occur, trigger a
SICR\u00a0event.
The criteria for this lender assessed trigger include, for example:
\u2022 A post distressed restructure payment default occurs where the
borrower is neither in default nor forborne;
\u2022 A material adverse event has occurred for the borrower which may
impact the borrower\u2019s ability to repay such as: adverse publicity which
raises concerns over the viability of a business; loss of key personnel
(CEO/CFO/COO) which raises concerns over the strategy/viability of
the business or significant negative macroeconomic events (including
but not limited to economic or market volatility, changes in legislation
and technological threats to an industry, changes in access to markets)
where the financial impact to the borrower is deemed material.
\u2022 Backstop indicators: The Group has adopted the rebuttable
presumption within IFRS 9 that loans greater than 30 days past due
represent a significant increase in credit risk.
Where SICR criteria are no longer a trigger, the account can exit Stage 2
and return to Stage 1.
2.1 Credit risk continued
Measurement, methodologies and judgements continued
Stage 3 characteristics (audited)
Defaulted loans (with the exception of newly originated or acquired loans
that are in Stage 1 or POCI) are classed as credit impaired and allocated
to Stage 3. Where default criteria are no longer met, the borrower exits
Stage 3 subject to a probation period, in line with regulatory requirements.
The key criteria resulting in a classification of default are:
\u2022 Where the Group considers a borrower to be unlikely to pay their loans
in full without realisation of collateral, regardless of the existence of any
past-due amount; or
\u2022 The borrower is 90 days or more past due on any material loan (day
count starts when any material amount of principal, interest or fee has
not been paid by a borrower at the date it was due).
Identification of non-performing exposures and unlikeliness to pay are
included in the Group\u2019s Definition of Default and Credit Impairment Policy.
Purchased or originated credit impaired (POCI) (audited)
POCIs are assets originated credit impaired and have a discount to the
contractual value when measured at fair value. The Group uses an
appropriate discount rate for measuring ECL in the case of POCIs which is
the credit-adjusted effective interest rate. This rate is used to discount the
expected cash flows of such assets to fair value on initial recognition.
POCI obligations remain outside of the normal stage allocation process
for the lifetime of the obligation. The ECL for POCI obligations is always
measured at an amount equal to lifetime expected credit losses. The
amount recognised as a loss allowance for these assets is the cumulative
change in lifetime expected credit losses since the initial recognition of the
assets rather than the total amount of lifetime expected credit losses.
Measurement of expected credit loss (audited)
The measurement of ECL is estimated through one of the following
approaches:
(i) Standard approach: This approach is used for the majority of
exposures where each ECL input parameter (Probability of Default \u2013
PD, Loss Given Default \u2013 LGD, Exposure at Default \u2013 EAD, and
Prepayments \u2013 PP) is developed in line with standard modelling
methodology. The Group\u2019s IFRS 9 models have been developed and
approved in line with the Group\u2019s Model Risk Management
Framework.
(ii) Simplified approach: For portfolios not on the standard approach, the
Group has followed a simplified approach. This approach consists of
applying portfolio level ECL averages, drawn from similar portfolios,
where it is not possible to estimate individual parameters. These
generally relate to portfolios where specific IFRS 9 models have not been
developed due to immateriality, low volumes or where there are no
underlying grading models. As granular PDs are not available for these
portfolios, a non-standard approach to staging is required with reliance
on the qualitative criteria (along with the 30 days past due backstop).
(iii) Discounted cash flows (DCFs): DCFs are used as an input to the ECL
calculation for Stage 3 credit\u2011impaired exposures where gross credit
exposure is \u2265 \u20ac1 million in the Republic of Ireland or \u2265 \u00a3500,000 in the
UK. For higher\u2011value cases, multiple DCFs are prepared to ensure that
expected losses appropriately reflect forward looking outcomes.\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
This approach is required where gross credit exposure is \u2265 \u20ac5 million
(Republic of Ireland), \u2265 \u00a35 million (UK), or where exposures fall within
the Group Leveraged Lending Policy. This approach captures borrower
specific impacts under base, downside and upside conditions, with
each scenario probability weighted to derive the final scenario weighted
ECL. Collateral valuation assumptions and the estimated time to
realisation of collateral are key drivers of the DCF approach. Forward
looking information is incorporated through the Group\u2019s credit
assessment process and applied consistently across scenarios. Where
the calculated ECL is very low, a minimum ECL floor is applied. This is
benchmarked against relevant model outputs to ensure consistency and
prudence in ECL recognition.
(iv) Management judgement: Where the estimate of ECL does not
adequately capture all available forward looking information about
the range of possible outcomes, or where there is a significant degree
of uncertainty, management judgement may be considered
appropriate for an adjustment to ECL. The management adjustment
must consider all relevant and supportable information, including but
not limited to, historical data analysis, predictive modelling and
management experience. The methodology to incorporate the
adjustment should consider the degree of any relevant over
collateralisation (headroom) and should not result in a zero overall
ECL unless there is sufficient headroom to support this. The key post
model adjustments (PMAs) in the 2025 year-end ECL estimates are
outlined on pages\u00a0195 and 196.
IFRS 9 ECL Credit Risk models (audited)
The IFRS 9 ECL models provide the risk parameters which are the inputs
into the model driven estimate of ECL which is used across all Stage 1 and
Stage 2 assets plus all non-DCF Stage 3 exposures on the standard
approach to ECL.
IFRS 9 Portfolio Delineation (audited)
The IFRS 9 models are delineated into retail and non-retail portfolios. The
retail IFRS 9 portfolios provide exposure level risk parameter estimates
which take into account facility, or borrower level characteristics and
metrics where appropriate, whilst the non-retail portfolios provide metrics
which are either borrower, facility\u00a0 or connection level estimates.
Probability of default (audited)
Probability of default (PD) is the likelihood that an account or borrower
defaults over an observation period, given that they are not currently in
default, for each year of the expected contractual lifetime of the exposure.
The PD is a point-in-time estimate which is reflective of the current and
expected economic conditions.
In order to capture the appropriate risk dynamics across the lifetime of the
exposure the development process considers:
\u2022 Macroeconomic effects captured through factors such as
unemployment rate and GDP;
\u2022 Cross-sectional risk discriminators, in particular the internal rating model
outputs plus other factors such as forbearance and\u00a0days past due; and
\u2022 Seasoning factors such as product type, delinquency and forbearance
status.
2.1 Credit risk continued
Measurement, methodologies and judgements continued
Loss given default (audited)
Loss given default (LGD) is a current assessment of the amount that will
not be recovered in the event of default, taking account of future
conditions. It can be thought of as the difference between the amount
owed to the Group (i.e. the exposure) and the net present value of future
cash flows less any relevant costs expected to be incurred in the recovery
process. If an account returns to performing from default (excluding any
loss making concession) or if the discounted post-default recoveries are
equal to or greater than the exposure, the realised loss is (close to) zero.
The LGD modelling approach generally depends on whether the facility
has underlying security and, if so, the nature of that security. The following
sets out the general approaches for the retail and non-retail portfolios:
\u2013 Retail portfolios
For unsecured loans, a cash flow curve, which estimates the cumulative
cash received following default until the loan is written-off or returns to
performing, is used to estimate the future recovery amount. This is
discounted at the effective interest rate and compared to the current
outstanding balance. Any shortfall between the recovery amount and the
outstanding balance is the LGD used to estimate ECL. Where
appropriate, this may then be adjusted to reflect economic conditions.
For secured loans the following may be considered:
\u2022 The value of underlying property collateral is estimated at the
forecasted time of disposal (taking into account forecasted market
price growth/falls and haircuts on market values that are expected at
the date of sale plus associated relevant costs) in order to calculate
the future recovery amount;
\u2022 The potential for the exposure to be deleveraged through a portfolio
sale taking into account the costs associated with same; and
\u2022 Paths for returning to the performing portfolios such as forbearance
and self-cure.
\u2013 Non-retail portfolios
For unsecured loans, characteristics such as borrower sector, borrower
financials and nature of collateral linked to affiliated accounts under the
same customer group are used to determine future losses based on
historical experience of discounted recoveries.
For secured loans, the value of the underlying property collateral is
estimated at the reporting date. This is used to estimate the ECL based on
historical experience of discounted recoveries.
Exposure at default (audited)
Exposure at default (EAD) is defined as the exposure amount that will\u00a0be
owed by a customer at the time of default. This will comprise changes in
the exposure amount between the reporting date and the date that the
customer defaults. This may be due to repayments, interest and fees
charged and additional drawdowns by the customer.
Prepayments (audited)
For term credit products, prepayment occurs where a customer fully
prepays an account prior to the end of its contractual term. For\u00a0revolving
credit products, \u2018prepayment\u2019 is defined as the cessation of use and
withdrawal of the facility provided that the account was not in default prior
to closure.
Prepayment is used in the lifetime ECL calculation for Stage 2 loans to
account for the proportion of the facilities/customers that prepay each\u00a0year.
Determining the period over which to measure ECL (audited)
Both the origination date and the expected maturity of a facility must be
determined for ECL purposes. The origination date is used to measure
credit risk at origination.
The expected maturity is used for assets in Stage 2, where the ECL must
be estimated over the remaining life of the facility.
The expected maturity approach is:
\u2022 Term credit products: the contractual maturity date, with exposure and
survival probability adjusted to reflect behaviour, i.e. amortisation and
prepayment;
\u2022 Revolving credit products: the period may extend beyond the contractual
period, i.e. behavioural lifetime estimate over which the Group is exposed
to credit risk, e.g. overdrafts and credit cards.
Forward looking indicators in the models (audited)
For ECL calculations reliant on models in the standard and simplified
approaches, forward looking indicators are incorporated into the models
through the use of macroeconomic variables. These have been identified
statistically as the key macroeconomic variables that drive the parameter
being assessed (e.g. PD or LGD). The final model structure incorporates
these as inputs with the 12 month and lifetime calculations utilising the
macroeconomic forecasts for each scenario. See the Macroeconomic
scenarios and weightings section for more detail on the process for
generating scenarios and associated key macroeconomic factors relevant
for\u00a0the models. In circumstances where there is a risk that the modelled
output fails to capture the appropriate response to changes in the
macroeconomic environment such as inflation and interest rate changes,
these risks are captured through the use of post model adjustments.
Effective interest rate (audited)
ECLs are discounted to the reporting date using the effective interest rate
(EIR) set at initial recognition, or a suitable approximation. The Group
applies an account-level interest rate as an approximation for both drawn
and undrawn commitments. This approach is reviewed annually to ensure
it remains appropriate and does not materially misstate ECL. Testing has
confirmed that using current interest rates provides an appropriate
approximation for ECL discounting.
Policy elections and simplifications
Low credit risk exemption (audited)
The Group utilises practical expedients, as allowed by IFRS 9, for the stage
allocation of particular financial instruments which are deemed \u2018low
credit risk\u2019. This practical expedient permits the Group to assume, without
more detailed analysis, that the credit risk on a financial instrument has
not increased significantly since initial recognition if the financial
instrument is determined to have \u2018low credit risk\u2019 at the reporting date.
The Group allocates such assets to Stage 1.
Under IFRS 9, the credit risk on a financial instrument is considered low\u00a0if:
\u2022 The financial instrument has a low risk of default;
\u2022 The borrower has a strong capacity to meet its contractual cash flow
obligations in the near term; and
\u2022 Adverse changes in economic business conditions in the longer term
may, (but will not necessarily) reduce the ability of the borrower to fulfil
its contractual cash flow obligations.
This low credit risk exemption is applied to particular assets within the Treasury
Debt Securities Portfolio, Capital Markets Securitisation Bonds and for Loans
and Receivables to Banks, specifically assets which have an internal grade
equivalent to an external investment grade rating (BBB-) or\u00a0higher.
The Group applies a quantitative backstop trigger of a tripling of the
probability of default subject to a minimum threshold movement of 30bps
to determine whether assets subject to the low credit risk exemption
should be allocated to Stage 2. Additionally, if any of such assets are
on a watch list based on agreed criteria, they are allocated to Stage 2.
Short term cash (audited)
The Group\u2019s IFRS 9 Impairment Policy does not require calculation of an
ECL for short term cash at central banks and other banks which have a
low risk of default with a very low risk profile. The calculation of the ECL
at each reporting date would be immaterial given these exposures\u2019 short
term nature and their daily management.
Lease receivables and trade receivables (audited)
For lease receivables, the Group has elected to use its standard approach
for both stage allocation and the ECL calculation and has elected to use
an expedient (simplified approach) for trade\u00a0receivables.
2.1 Credit risk continued
Measurement, methodologies and judgements continued
Write-offs (audited)
When the prospects of recovering a loan, either partially or fully, do not
improve, a point may come when it will be concluded that as there is no
realistic prospect of recovery, the loan and any related ECL will be written-
off. The Group determines, based on\u00a0specific criteria, the point at which
there is no reasonable expectation of recovery. When the following criteria
exist (or comparable circumstances arise), the loan can be subject to
a\u00a0partial or full write-off:
\u2022 A decision has been taken to enforce on a loan, due to no agreement with
the customer for a restructure/settlement and all customer engagement
with the Group regarding their loan agreement has ceased;
\u2022 Inception of informal insolvency proceedings has commenced or is
about to commence;
\u2022 Receivership or other formal recovery action (e.g. where expectation of
recovery of collateral is expected through enforcement activity but no
additional recoveries above the collateral value are anticipated) has
commenced or is about to commence; and
\u2022 A loan is substantially provided for or no material repayments have
been received for a period of time (minimum 12 months) and all
customer engagement with the Group regarding their loan agreement
has ceased.
Debt forgiveness may subsequently arise where there is a formal contract
with the customer for the write-off of the loan. In addition, certain
forbearance solutions and restructuring agreements may include an
element of debt write-down (debt forgiveness). Further details on
forbearance are set out in section 2.1.6 - Forbearance overview.
The contractual amount outstanding of loans written-off during the year that
are still subject to enforcement activity are outlined on page 211 and relate
to non-contracted write-offs, both full and partial. The Group recognises
cash received from the customer in excess of the carrying value of the
loan after a non-contracted write-off as \u2018recoveries of amounts previously
written-off\u2019 in the income statement.
ECL governance (audited)
The Board has put in place a framework, incorporating the governance
and delegation structures commensurate with a material risk, to ensure
credit risk is appropriately managed throughout the Group.
The key governance points in the ECL allowance approval process during
2025 were:
\u2022 Model Risk Committee;
\u2022 Asset and Liability Committee;
\u2022 Business level ECL Forum;
\u2022 Group Credit Committee; and
\u2022 Board Audit Committee.
For ECL governance, the Group\u2019s senior management employ expert
judgement in assessing the adequacy of the ECL allowance. This is
supported by detailed information on the portfolios of credit risk
exposures and by the outputs of the measurement and classification
approaches, coupled with internal and external data provided on both the
short-term and long-term economic outlook. Business segments and
Group management are required to ensure that there are appropriate
levels of cover for all of the credit portfolios and must take account of
both accounting and regulatory compliance when assessing the expected
levels of loss.
Assessment of the credit quality of each business segment and
subsidiaries is initially informed by the output of the quantitative analytical
models but may be subject to management adjustments.
This ECL output is then scrutinised and approved at an individual business
unit level (ECL Forum), which also includes subsidiaries, prior to onward
submission to the GCC.
GCC reviews and challenges ECL levels for onward recommendation to
the Board Audit Committee as the final approval authority. The Board
Audit Committee then recommends the Group\u2019s financial results to the
Board for ultimate final approval.
Measurement, methodologies and judgements continued
Sensitivities (audited)
The Group\u2019s estimates of expected credit losses are responsive to\u00a0varying
economic conditions and forward looking information. These estimates
are driven by the relationship between historic experienced loss and the
combination of macroeconomic variables. Given the co-relationship of
each of the macroeconomic variables to one another and the fact that loss
estimates do not follow a linear path, a sensitivity to any single economic
variable is not meaningful. As such, the following sensitivities provide an
indication of ECL movements that include changes in model estimates and
quantitative \u2018significant increase in credit risk\u2019 (SICR) staging assignments,
with a single 100% weighting applied individually.
Relative to the 100% Base scenario, the ECL allowance in the 100%
Downside 1 and 2 scenarios increases by 30% (\u20ac312 million) and 85%
(\u20ac896 million), respectively, and declines by 8% (\u20ac87 million) in the 100%
Upside scenario. Relative impacts are similar for the AIB UK portfolio in
most scenarios, with lower relative impact observed in the 100% Downside
2 scenario.
ECL allowance at 31 December 2025
Reported
100% Base
100% Downside
Scenario 1
(Escalating\u00a0
geopolitical
tensions)
100% Downside
Scenario 2
(Global trade war/
Irish FDI shock)
100% Upside
Scenario
(Easing
geopolitical
tensions)
Loans and advances to customers (audited)
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Residential mortgages
176
150
204
427
135
Other personal
131
122
139
168
117
Property and construction
432
395
487
586
357
Non-property business
404
339
480
700
313
Total
1,143
1,006
1,310
1,881
922
Off-balance sheet loan commitments
38
34
41
53
32
Financial guarantee contracts
10
9
10
11
8
1,191
1,049
1,361
1,945
962
Of which:
AIB UK segment
94
83
109
114
78
ECL allowance at 31 December 2024
Reported
100% Base
100% Downside
Scenario 1
(Geopolitical
tensions)
100% Downside
Scenario 2
(Credit crunch)
100% Upside
Scenario
(Quick recovery)
Loans and advances to customers (audited)
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Residential mortgages
270
241
304
464
223
Other personal
137
128
145
167
124
Property and construction
464
410
569
689
384
Non-property business
473
415
535
636
393
Total
1,344
1,194
1,553
1,956
1,124
Off-balance sheet loan commitments
44
36
46
60
34
Financial guarantee contracts
13
12
16
20
12
1,401
1,242
1,615
2,036
1,170
Of which:
AIB UK segment
174
160
192
206
151
2.1 Credit risk continued
Measurement, methodologies and judgements continued
Post model adjustments (PMAs) (audited)
PMAs are applied where management believe that they are necessary
to ensure an adequate level of ECL provision and to address known
model limitations and/or novel risks not captured in the models. They
may also be used where models are being redeveloped but are not yet
deployed, where the impact of introducing the new models can be
accurately quantified.
PMAs are approved through the ECL governance process within which the
appropriateness of PMAs is considered against:
\u2022 The backdrop of the risk profile of the loan book;
\u2022 Recent loss history or changes in underlying resolution strategies not
captured in the models; and
\u2022 Management\u2019s view of novel risks.
At 31 December 2025, the Group has continued to consider all PMAs in
light of the current economic environment and continued geopolitical
tensions. The calculation of PMAs and ECL adjustments requires a high
degree of judgement, particularly in relation to emerging macroeconomic
and sectoral risks. PMAs were reviewed within this context, and a cautious
approach was taken to ensure an appropriate level of protection against
potential vulnerabilities amid ongoing economic uncertainty. Release of
PMAs will occur as new models are deployed or where the risk has been
judged by management to be captured in the modelled outcomes, or to
have passed.
The PMAs approved for 31 December 2025 (and 2024 comparison) are set
out below and are categorised as follows:
\u2022 Non-performing exposure (NPE) resolution (\u20ac79 million) \u2013 ECL
adjustments where the current model does not consider all potential
downside risks or a range of outcomes that should be incorporated into the
final loss estimate for defaulted assets.
\u2022 Sectoral/Emerging risks (\u20ac115 million) \u2013 ECL adjustments which reflect
novel risks within a sector or portfolio for which there has not been time
to embed an adjustment within the related models. This also refers to
ECL adjustments for which time is needed for events to evolve or
impacts to crystallise.
\u2022 Future model developments/Other (\u20ac100 million) \u2013 ECL adjustments
required where the impact of upcoming model changes or recalibrations
is\u00a0known with sufficient accuracy and ECL\u00a0adjustments where it was judged
that an amendment to the\u00a0modelled ECL was required for reasons other
than the above.
2025
Post model adjustments
(audited)
ECL allowance
before PMAs
NPE resolution
Sectoral/
Emerging risks
Future model
developments/
Other
Total PMAs
Total ECL
allowance
Proportion of
PMAs to total
ECL allowance
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
%
Residential mortgages
163
12
\u2014
1
13
176
7
Other personal
113
18
\u2014
\u2014
18
131
14
Property and construction
264
34
63
71
168
432
39
Non-property business
309
15
52
28
95
404
24
Total loans and advances to
customers
849
79
115
100
294
1,143
26
Loan commitments and
financial guarantees issued
48
\u2014
\u2014
\u2014
\u2014
48
\u2014
Total ECL allowance
897
79
115
100
294
1,191
25
2024
Post model adjustments
(audited)
ECL allowance
before PMAs
NPE resolution
Sectoral/
Emerging risks
Future model
developments/
Other
Total PMAs
Total ECL
allowance
Proportion of
PMAs to total ECL
allowance
\u20ac m\u00a0 \u00a0
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
%
Residential mortgages
222
48
\u2014
\u2014
48
270
18
Other personal
125
12
\u2014
\u2014
12
137
9
Property and construction
234
76
60
94
230
464
50
Non-property business
410
6
3
54
63
473
13
Total loans and advances to
customers
991
142
63
148
353
1,344
26
Loan commitments and
financial guarantees issued
57
\u2014
\u2014
\u2014
\u2014
57
\u2014
Total ECL allowance
1,048
142
63
148
353
1,401
25
2.1 Credit risk continued
Measurement, methodologies and judgements continued
Post model adjustments (PMAs) (audited)
NPE resolution (audited)
At 31 December 2025, a total PMA of \u20ac79 million on non-performing
exposures reflects the Group\u2019s continued prudent approach to downside
risks not fully captured by the existing models.
A PMA of \u20ac12 million continues to be held against Stage 3 mortgages at 31
December 2025. This has reduced from \u20ac48 million at 31 December 2024
following the recent NPE portfolio sale. The PMA addresses potential ECL
underestimation relating to portfolio sale assumptions embedded in the
mortgage model and is informed by the outcome of the recent portfolio sale,
with a read across applied to the remaining Stage 3 mortgage portfolio.
Within the unsecured Stage 3 Retail portfolio, a PMA of \u20ac26 million
(\u20ac18 million for other personal, \u20ac7 million for non-property business and
\u20ac1 million for property) was approved at 31 December 2025, informed by
the outcome of the recent portfolio sale and read across to the residual
unsecured Retail Stage 3 portfolio. This adjustment recognises the
potential for further loss emergence in this segment, particularly
considering recent disposal activity.
A PMA of \u20ac40 million (\u20ac32 million for property and \u20ac8 million for non-
property business) continues to account for latent risks and alternative
resolution strategies, such as NPE portfolio loan sales or collateral
valuations, which remain sensitive to prevailing market conditions. This
adjustment reflects the Group\u2019s assessment of potential reductions in
asset values and the impact of market volatility on recovery strategies.
Other PMAs amounting to a further \u20ac1 million in this category are not
individually significant.
Sectoral/Emerging risks (audited)
At 31 December 2025, a total PMA of \u20ac115 million reflects sectoral and
emerging risks, consistent with the Group\u2019s cautious stance in addressing
novel risks within specific sectors or portfolios.
A PMA of \u20ac72 million addresses the latent risk of potential increased
forbearance activity. This PMA also takes into consideration the Group\u2019s
cautious approach to the potential increase in case migrations to
forbearance against the current uncertain economic outlook. \u20ac62 million
of the PMA predominantly relates to the commercial real estate property
portfolio. At 31 December 2025, \u20ac10 million reflects the increased risk of
forbearance in the non-property business portfolio.
A further \u20ac40 million PMA was approved at 31 December 2025 for the C&IC
segment. A PMA of \u20ac30 million reflects the identification of specific risk
characteristics and emerging underperforming trends impacting a small
number of borrowers within the fibre/broadband infrastructure sector. A
PMA of \u20ac10 million reflects novel geopolitical risks impacting some
renewable assets.
Other PMAs amounting to a further \u20ac3 million in this category are not
individually significant.
Future model developments/Other (audited)
At 31 December 2025, a total PMA of \u20ac100 million primarily reflects the
impact of upcoming model changes.
Within the Capital Markets property portfolio, the recalibrated investment
property model which was deployed in June 2025 is expected to result in
additional exposures migrating to Stage 2. At 31 December 2024, a PMA
of \u20ac90 million was introduced to reflect the potential increase in Stage 2
balances and associated ECL. At 31 December 2025, the PMA has been
reduced to \u20ac70 million, which includes the impact of a staging adjustment
to transfer \u20ac0.6 billion of Stage 1 loans to Stage 2.
PMAs in place for the deployment of new models for non-property
business (\u20ac13 million) and the Syndicated & International Finance (SIF)
portfolio (\u20ac6 million) in Capital Markets have been retained at reduced
levels for 31 December 2025. This reduction reflects the regrading of
cases on the new models and a more stable geopolitical risk outlook.
Other PMAs amounting to a further \u20ac11 million in this category are not
individually significant.
Maximum exposure to credit risk (audited)
Maximum exposure to credit risk from on-balance sheet and off-balance sheet financial instruments is presented before taking account of any collateral
held or other credit enhancements (unless such enhancements meet accounting offsetting requirements). For financial assets recognised on the
statement of financial position, the maximum exposure to credit risk is their carrying amount, and for financial guarantees and similar contracts granted,
it is the maximum amount the Group would have to pay if the guarantees were called upon. For loan commitments and other credit related commitments
that are irrevocable over the life of the respective facilities, it is generally the full amount of the committed facilities.
Credit risk exposure derives from standard on-balance sheet products such as mortgages, loans, overdrafts and credit cards. In\u00a0addition, credit risk
arises from other products and activities including, but not limited to: \u2018off-balance sheet\u2019 guarantees and commitments; securities financing;
investment securities; asset backed securities; and the failure/partial failure of a trade in a settlement or payments system.
The Group manages and reduces its net exposure to credit risk through the use of collateral, netting arrangements and risk transfer strategies. Further
information on credit risk mitigants is provided on pages 184 and 185.
The following table sets out the financial instruments in the statement of financial position and the Group\u2019s maximum exposure to credit risk on those
financial instruments at 31 December 2025 and 2024.
2025
Income statement
Statement of financial position
Maximum exposure
Maximum exposure to credit risk (audited)
Net credit
impairment
charge/writeback
Exposure
ECL
allowance
Carrying
amount
Amortised
cost
Fair
value
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Cash and balances at central banks1
\u2014
40,571
\u2014
40,571
1
39,920
\u2014
39,920
Derivative financial instruments
\u2014
1,641
\u2014
1,641
\u2014
1,641
1,641
Loans and advances to banks
\u2014
601
\u2014
601
601
\u2014
601
Loans and advances to customers
(178)
72,343
(1,143)
71,200
71,116
84
71,200
Securities financing
1
7,339
\u2014
7,339
7,339
\u2014
7,339
Investment securities2
(3)
21,245
(1)
21,244
5,043
16,201
21,244
Trading portfolio financial assets
\u2014
286
\u2014
286
\u2014
286
286
Other financial assets
\u2014
1,039
(1)
1,038
1,012
26
1,038
(180)
145,065
(1,145)
143,920
125,031
18,238
143,269
Loan commitments and other credit related
commitments
3
17,033
(38)
(38)
16,995
\u2014
16,995
Financial guarantees
5
1,206
(10)
(10)
1,196
\u2014
1,196
8
18,239
3
(48)
(48)
18,191
\u2014
18,191
Total
(172)
163,304
(1,193)
143,872
143,222
18,238
161,460
1. Comprises balances at central banks of \u20ac39,920m and other cash on hand of \u20ac651m.
2. Excluding equity shares of \u20ac304m.
3. Comprises off-balance sheet instruments.
2024
Income statement
Statement of financial position
Maximum exposure
Maximum exposure to credit risk (audited)
Net credit
impairment charge/
writeback
Exposure
ECL
allowance
Carrying
amount
Amortised
cost
Fair
value
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Cash and balances at central banks
\u2014
37,315
\u2014
37,315
1
36,651
\u2014
36,651
1
Derivative financial instruments
\u2014
2,144
\u2014
2,144
\u2014
2,144
2,144
Loans and advances to banks
\u2014
1,321
\u2014
1,321
1,321
\u2014
1,321
Loans and advances to customers
(60)
71,233
(1,344)
69,889
69,825
64
69,889
Securities financing
\u2014
6,644
(1)
6,643
6,643
\u2014
6,643
Investment securities2
2
18,372
(1)
18,371
4,803
13,568
18,371
Trading portfolio financial assets
\u2014
136
\u2014
136
\u2014
136
136
Other financial assets
\u2014
592
(1)
591
592
\u2014
592
(58)
137,757
(1,347)
136,410
119,835
15,912
135,747
Loan commitments and other credit related
commitments
1
16,823
(44)
(44)
16,823
\u2014
16,823
Financial guarantees
2
976
(13)
(13)
976
\u2014
976
3
17,799
3
(57)
(57)
17,799
\u2014
17,799
Total
(55)
155,556
(1,404)
136,353
137,634
15,912
153,546
1. Comprises balances at central banks of \u20ac36,651m and other cash on hand of \u20ac664m.
2. Excluding equity shares of \u20ac297m.
3. Comprises off-balance sheet instruments.
Internal credit grade profile by ECL staging (audited)
The table below analyses the internal credit grading profile by ECL staging for the Group\u2019s loans and advances to customers at 31 December 2025 and
2024:
At amortised cost
2025
2024
Stage 1
Stage 2
Stage 3
POCI
Total
Stage 1
Stage 2
Stage 3
POCI
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Total
Strong
44,871
1,702
\u2014
23
46,596
45,774
2,593
\u2014
40
48,407
Satisfactory
16,950
3,558
\u2014
37
20,545
14,598
2,706
\u2014
14
17,318
Total strong/satisfactory
61,821
5,260
\u2014
60
67,141
60,372
5,299
\u2014
54
65,725
Criticised watch
987
1,746
\u2014
7
2,740
728
1,828
\u2014
10
2,566
Criticised recovery
3
772
\u2014
10
785
18
847
\u2014
10
875
Total criticised
990
2,518
\u2014
17
3,525
746
2,675
\u2014
20
3,441
Non-performing
1
\u2014
1,510
82
1,593
1
\u2014
1,889
113
2,003
Gross carrying amount
62,812
7,778
1,510
159
72,259
61,119
7,974
1,889
187
71,169
ECL allowance
(173)
(499)
(487)
16
(1,143)
(184)
(524)
(648)
12
(1,344)
Carrying amount
62,639
7,279
1,023
175
71,116
60,935
7,450
1,241
199
69,825
Gross loans1 and ECL movements (audited)
The following tables set out the movements in the gross carrying amount and ECL allowance for loans and advances to customers at amortised cost by
ECL staging between 1 January 2025 and 31 December 2025 and the corresponding movements between 1 January 2024 and 31\u00a0December 2024.
Accounts that triggered movements between Stage 1 and Stage 2 as a result of failing/curing a quantitative measure only (as disclosed on page\u00a0186) and
that subsequently reverted within the year to their original stage, are excluded from \u2018Transferred from Stage 1 to Stage 2\u2019 and\u00a0\u2018Transferred from Stage 2 to
Stage 1\u2019. The Group believes this presentation aids the understanding of the underlying credit migration.
Gross carrying amount movements \u2013 total (audited)
2025
Stage 1
Stage 2
Stage 3
POCI
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At 1 January
61,119
7,974
1,889
187
71,169
Transferred from Stage 1 to Stage 2
(6,859)
6,859
\u2014
\u2014
\u2014
Transferred from Stage 2 to Stage 1
5,262
(5,262)
\u2014
\u2014
\u2014
Transferred to Stage 3
(84)
(791)
875
\u2014
\u2014
Transferred from Stage 3
18
196
(214)
\u2014
\u2014
New loans originated/top-ups
15,840
\u2014
\u2014
49
15,889
Redemptions/repayments
(13,448)
(2,513)
(458)
(44)
(16,463)
Interest credited
2,724
423
67
7
3,221
Write-offs
\u2014
\u2014
(113)
(1)
(114)
Derecognised due to disposals
(144)
(70)
(549)
(43)
(806)
Exchange translation adjustments
(829)
(71)
(15)
\u2014
(915)
Impact of model, parameter and overlay changes
(1,039)
1,039
\u2014
\u2014
\u2014
Other movements
252
(6)
28
4
278
At 31 December
62,812
7,778
1,510
159
72,259
2024
Stage 1
Stage 2
Stage 3
POCI
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At 1 January
57,252
7,672
1,923
122
66,969
Transferred from Stage 1 to Stage 2
(6,290)
6,290
\u2014
\u2014
\u2014
Transferred from Stage 2 to Stage 1
4,509
(4,509)
\u2014
\u2014
\u2014
Transferred to Stage 3
(149)
(907)
1,056
\u2014
\u2014
Transferred from Stage 3
29
217
(246)
\u2014
\u2014
New loans originated/top-ups
15,898
\u2014
\u2014
88
15,986
Redemptions/repayments
(11,842)
(2,704)
(765)
(31)
(15,342)
Interest credited
2,863
469
89
5
3,426
Write-offs
\u2014
\u2014
(126)
\u2014
(126)
Derecognised due to disposals
(264)
(112)
(81)
\u2014
(457)
Exchange translation adjustments
530
49
15
1
595
Impact of model, parameter and overlay changes
(1,499)
1,499
\u2014
\u2014
\u2014
Other movements
82
10
24
2
118
At 31 December
61,119
7,974
1,889
187
71,169
1. The gross carrying amount movement is recorded at each month end with movements calculated versus the position at previous month end. The sum of all 12 months movement is then presented.
2.1.2 Credit risk \u2013 Credit profile of the loan portfolio continued
Gross loans and ECL movements continued
ECL allowance movements \u2013 total (audited)
2025
Stage 1
Stage 2
Stage 3
POCI
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At 1 January
184
524
648
(12)
1,344
Transferred from Stage 1 to Stage 2
(88)
287
\u2014
\u2014
199
Transferred from Stage 2 to Stage 1
61
(170)
\u2014
\u2014
(109)
Transferred to Stage 3
(1)
(90)
152
\u2014
61
Transferred from Stage 3
1
19
(38)
\u2014
(18)
Net remeasurement (within Stage)
2
25
76
(7)
96
New loans originated/top-ups
77
\u2014
\u2014
\u2014
77
Redemptions/repayments
(14)
(43)
\u2014
1
(56)
Impact of model changes 1
\u2014
(16)
(1)
\u2014
(17)
Impact of overlay changes 1
41
(4)
(6)
\u2014
31
Impact of credit or economic risk parameters
(41)
(18)
(1)
\u2014
(60)
Net remeasurement of ECL allowance
38
(10)
182
(6)
204
Write-offs
\u2014
\u2014
(113)
(1)
(114)
Derecognised due to disposals
(44)
(12)
(228)
(2)
(286)
Exchange translation adjustments
(5)
(3)
(5)
\u2014
(13)
Other movements
\u2014
\u2014
3
5
8
At 31 December
173
499
487
(16)
1,143
2024
Stage 1
Stage 2
Stage 3
POCI
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At 1 January
254
635
634
(3)
1,520
Transferred from Stage 1 to Stage 2
(79)
277
\u2014
\u2014
198
Transferred from Stage 2 to Stage 1
87
(243)
\u2014
\u2014
(156)
Transferred to Stage 3
\u2014
(108)
190
\u2014
82
Transferred from Stage 3
\u2014
21
(47)
\u2014
(26)
Net remeasurement (within Stage)
(8)
15
75
(10)
72
New loans originated/top-ups
57
\u2014
\u2014
\u2014
57
Redemptions/repayments
(33)
(69)
\u2014
\u2014
(102)
Impact of model changes1
14
53
\u2014
\u2014
67
Impact of overlay changes1
(10)
(12)
(37)
\u2014
(59)
Impact of credit or economic risk parameters
(16)
(17)
(8)
\u2014
(41)
Net remeasurement of ECL allowance
12
(83)
173
(10)
92
Write-offs
\u2014
\u2014
(126)
\u2014
(126)
Derecognised due to disposals
(88)
(29)
(56)
\u2014
(173)
Exchange translation adjustments
7
4
5
\u2014
16
Other movements
(1)
(3)
18
1
15
At 31 December
184
524
648
(12)
1,344
1. For further clarity, the ECL allowance movements regarding the impact of model and overlay changes have been reported as separate categories for 2025 and 2024 comparatives.
2.1.2 Credit risk \u2013 Credit profile of the loan portfolio continued
Gross loans and ECL movements continued (audited)
Total exposures to which an ECL applies increased during the year by\u00a0
\u20ac1.0 billion from \u20ac71.2 billion at 1 January 2025 to \u20ac72.2 billion at
31\u00a0December 2025. The increase in the year was driven by new loans
originated/top-ups of \u20ac15.9 billion, partially offset by redemptions/
repayments net of interest credited of \u20ac13.2 billion, adverse foreign
exchange movements of \u20ac0.9 billion, and loan disposals including write-
offs of \u20ac0.9 billion.
Stage transfers are a key component of ECL allowance movements (i.e.
Stage 1 to Stage 2 to Stage 3 and vice versa) in addition to the net
remeasurement of ECL due to a change in risk parameters within a stage.
Excluding the impact of model changes, overlay changes and the updated
macroeconomic scenarios, an ECL charge of \u20ac250 million occurred due
to underlying credit management activity and a slight deterioration in
credit parameters which inform the modelled outcomes. This was
primarily driven by a \u20ac99 million charge for the non-property business
sector which included the credit deterioration of a small number of
borrowers in the fibre/broadband infrastructure sectors. The property and
construction sector also experienced a \u20ac95 million charge which was
driven by the recognition of risk through the modelled outcomes and
offset by a release of PMAs.
The impact of model changes resulted in a net writeback of\u00a0\u20ac17\u00a0million. This
was primarily driven by a \u20ac47 million writeback due to the redeveloped
corporate LGD models deployed and partially offset by a \u20ac31 million charge
due to the deployment of the recalibrated investment property model.
The impact of overlay changes resulted in a net charge of\u00a0\u20ac31\u00a0million. New
PMAs in the year of \u20ac40 million relating to the C&IC segment and \u20ac26 million
for the unsecured Stage 3 Retail portfolio were offset by a reduction in
existing PMAs due to the utilisation of PMAs which are now captured in the
modelled outcomes and through portfolio disposals. Further details on
PMAs are outlined on pages 195 and 196. PMAs ensure exposures subject
to risks which are not adequately reflected in the modelled outcomes, retain
an appropriate ECL.
The updated macroeconomic scenarios and weightings resulted in an ECL
release of \u20ac60 million. This ECL movement is presented separately within
\u2018Impact of credit or economic risk parameters\u2019. This release was most
significant within the property and construction (\u20ac28 million) and non-
property business (\u20ac22 million) portfolios. The reduction reflects
improvements in the actual unemployment rates for 2025 in addition to
more favourable revised forecasts for 2026/27.
The gross loan transfers from Stage 1 to Stage 2 of \u20ac6.9 billion are due to
underlying credit management activity where a significant increase in
credit risk occurred during the year through either the quantitative or
qualitative criteria for stage movement. 50% of the movements relied on a
qualitative or backstop indicator of significant increase in credit risk (e.g.
forbearance or movement to a watch grade) with 1% caused solely by the
backstop of 30 days past due. Of the \u20ac6.9 billion which transferred from
Stage 1 to Stage 2 in the year, approximately \u20ac4.4 billion is reported as
Stage 2 at 31 December 2025.
Where a movement to Stage 2 is triggered by multiple drivers
simultaneously, these are reported in the following order: quantitative,
qualitative and backstop.
Similarly, transfers from Stage 2 to Stage 1 of \u20ac5.3 billion represent those
loans where the triggers for significant increase in credit risk no longer
apply or loans that have fulfilled a probation period.
These transfers include loans which have been upgraded through normal
credit management processes and incorporate loans which transferred due
to the impact of the updated macroeconomic scenarios and weightings.
Transfers from Stage 2 to Stage 3 of \u20ac0.8 billion represent those loans that
defaulted during the year. These arose in cases where it was determined
that the customers were unlikely to pay their loans in full without the
realisation of collateral regardless of the existence of any past due
amount or the number of days past due. In addition, transfers also include
all borrowers that are 90 days or more past due on a material obligation.
Of the transfers from Stage 2 to Stage 3, \u20ac0.2 billion had transferred from
Stage 1 to Stage 2 earlier in the year.
Transfers from Stage 3 to Stage 2 of \u20ac0.2 billion were mainly driven by
resolution activity with the customer, through either restructuring or
forbearance previously granted and which subsequently adhered to
default probation requirements. As part of the credit management
practices, active monitoring of loans and their adherence to default
probation requirements is in place.
Movements in off-balance sheet exposures (audited)
The following tables set out the movements in the nominal amount and ECL allowance for loan commitments and financial guarantees by ECL staging
for the year to 31 December 2025 and 2024 :
Nominal amount movements (audited)
2025
Loan commitments
Financial guarantee contracts
Stage 1
Stage 2
Stage 3
POCI
Total
Stage 1
Stage 2
Stage 3
POCI
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At 1 January
15,354
1,379
83
7
16,823
883
79
14
\u2014
976
Transferred from Stage 1 to Stage 2
(832)
832
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Transferred from Stage 2 to Stage 1
632
(632)
\u2014
\u2014
\u2014
221
(221)
\u2014
\u2014
\u2014
Transferred to Stage 3
(57)
(13)
70
\u2014
\u2014
\u2014
(5)
5
\u2014
\u2014
Transferred from Stage 3
3
5
(8)
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Other movements1
418
(197)
(10)
(1)
210
31
199
\u2014
\u2014
230
At 31 December
15,518
1,374
135
6
17,033
1,135
52
19
\u2014
1,206
2024
Loan commitments
Financial guarantee contracts
Stage 1
Stage 2
Stage 3
POCI
Total
Stage 1
Stage 2
Stage 3
POCI
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At 1 January
14,921
1,136
71
8
16,136
790
52
14
1
857
Transferred from Stage 1 to Stage 2
(835)
835
\u2014
\u2014
\u2014
(71)
71
\u2014
\u2014
\u2014
Transferred from Stage 2 to Stage 1
401
(401)
\u2014
\u2014
\u2014
28
(28)
\u2014
\u2014
\u2014
Transferred to Stage 3
(16)
(20)
36
\u2014
\u2014
(2)
\u2014
2
\u2014
\u2014
Transferred from Stage 3
10
8
(18)
\u2014
\u2014
1
\u2014
(1)
\u2014
\u2014
Other movements1
873
(179)
(6)
(1)
687
137
(16)
(1)
(1)
119
At 31 December
15,354
1,379
83
7
16,823
883
79
14
\u2014
976
1. Includes new commitments, utilised and expired commitments.
The internal credit grade profile of loan commitments and financial guarantee contracts is set out in the following table (audited):
2025
2024
\u20ac m
\u20ac m
Strong
10,651
10,858
Satisfactory
6,935
6,435
Criticised watch
452
381
Criticised recovery
46
22
Default
155
103
Total
18,239
17,799
Movements in off-balance sheet exposures continued (audited)
ECL allowance movements (audited)
2025
Loan commitments
Financial guarantee contracts
Stage 1
Stage 2
Stage 3
POCI
Total
Stage 1
Stage 2
Stage 3
POCI
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At 1 January
16
23
4
1
44
1
4
8
\u2014
13
Transferred from Stage 1 to Stage 2
(3)
15
\u2014
\u2014
12
(1)
3
\u2014
\u2014
2
Transferred from Stage 2 to Stage 1
6
(17)
\u2014
\u2014
(11)
\u2014
(2)
\u2014
\u2014
(2)
Transferred to Stage 3
\u2014
(1)
5
\u2014
4
\u2014
(1)
1
\u2014
\u2014
Transferred from Stage 3
\u2014
\u2014
(1)
\u2014
(1)
\u2014
1
(1)
\u2014
\u2014
Net remeasurement
(6)
\u2014
(1)
\u2014
(7)
\u2014
(1)
(4)
\u2014
(5)
Net income statement (credit)/charge
(3)
(3)
3
\u2014
(3)
(1)
\u2014
(4)
\u2014
(5)
Other movements
(1)
\u2014
(1)
(1)
(3)
1
\u2014
1
\u2014
2
At 31 December
12
20
6
\u2014
38
1
4
5
\u2014
10
2024
Loan commitments
Financial guarantee contracts
Stage 1
Stage 2
Stage 3
POCI
Total
Stage 1
Stage 2
Stage 3
POCI
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At 1 January
12
26
4
1
43
2
5
9
\u2014
16
Transferred from Stage 1 to Stage 2
(3)
22
\u2014
\u2014
19
\u2014
5
\u2014
\u2014
5
Transferred from Stage 2 to Stage 1
6
(32)
\u2014
\u2014
(26)
2
(3)
\u2014
\u2014
(1)
Transferred to Stage 3
\u2014
\u2014
2
\u2014
2
\u2014
(1)
2
\u2014
1
Transferred from Stage 3
\u2014
\u2014
(1)
\u2014
(1)
\u2014
1
(1)
\u2014
\u2014
Net remeasurement
\u2014
7
(2)
\u2014
5
(2)
(3)
(2)
\u2014
(7)
Net income statement charge/(credit)
3
(3)
(1)
\u2014
(1)
\u2014
(1)
(1)
\u2014
(2)
Other movements
1
\u2014
1
\u2014
2
(1)
\u2014
\u2014
\u2014
(1)
At 31 December
16
23
4
1
44
1
4
8
\u2014
13
The following table analyses the residential mortgage portfolio at amortised cost by segment, internal credit ratings and ECL staging at
31 December 2025 and 2024:
(Audited)
2025
2024
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Retail
Banking
Capital
Markets
C&IC
AIB
UK
Group
Total
Gross carrying amount
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Owner-occupier
35,014
449
\u2014
942
\u2014
36,405
34,346
417
\u2014
925
\u2014
35,688
Buy-to-let
1,029
59
\u2014
38
\u2014
1,126
1,174
62
\u2014
46
\u2014
1,282
Total
36,043
508
\u2014
980
\u2014
37,531
35,520
479
\u2014
971
\u2014
36,970
Analysed by internal credit ratings
Strong
30,091
342
\u2014
769
\u2014
31,202
28,930
311
\u2014
849
\u2014
30,090
Satisfactory
4,564
157
\u2014
156
\u2014
4,877
4,829
150
\u2014
72
\u2014
5,051
Total strong/satisfactory
34,655
499
\u2014
925
\u2014
36,079
33,759
461
\u2014
921
\u2014
35,141
Criticised watch
623
7
\u2014
16
\u2014
646
786
15
\u2014
11
\u2014
812
Criticised recovery
136
\u2014
\u2014
2
\u2014
138
142
\u2014
\u2014
3
\u2014
145
Total criticised
759
7
\u2014
18
\u2014
784
928
15
\u2014
14
\u2014
957
Non-performing
629
2
\u2014
37
\u2014
668
833
3
\u2014
36
\u2014
872
Gross carrying amount
36,043
508
\u2014
980
\u2014
37,531
35,520
479
\u2014
971
\u2014
36,970
Analysed by ECL staging
Stage 1
33,602
473
\u2014
924
\u2014
34,999
32,799
441
\u2014
925
\u2014
34,165
Stage 2
1,740
33
\u2014
19
\u2014
1,792
1,820
35
\u2014
10
\u2014
1,865
Stage 3
552
2
\u2014
37
\u2014
591
731
3
\u2014
36
\u2014
770
POCI
149
\u2014
\u2014
\u2014
\u2014
149
170
\u2014
\u2014
\u2014
\u2014
170
Total
36,043
508
\u2014
980
\u2014
37,531
35,520
479
\u2014
971
\u2014
36,970
ECL allowance \u2013 statement of financial position
Stage 1
12
\u2014
\u2014
1
\u2014
13
10
\u2014
\u2014
\u2014
\u2014
10
Stage 2
47
1
\u2014
\u2014
\u2014
48
52
1
\u2014
\u2014
\u2014
53
Stage 3
122
\u2014
\u2014
3
\u2014
125
206
1
\u2014
3
\u2014
210
POCI
(10)
\u2014
\u2014
\u2014
\u2014
(10)
(3)
\u2014
\u2014
\u2014
\u2014
(3)
Total
171
1
\u2014
4
\u2014
176
265
2
\u2014
3
\u2014
270
ECL allowance cover
percentage
%
%
%
%
%
%
%
%
%
%
%
%
Stage 1
\u2014
\u2014
\u2014
0.1
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Stage 2
2.7
3.0
\u2014
\u2014
\u2014
2.7
2.9
2.5
\u2014
\u2014
\u2014
2.8
Stage 3
22.1
\u2014
\u2014
8.1
\u2014
21.2
28.2
30.3
\u2014
8.3
\u2014
27.2
POCI
(6.7)
\u2014
\u2014
\u2014
\u2014
(6.7)
(1.8)
\u2014
\u2014
\u2014
\u2014
(1.8)
Income statement
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Net remeasurement
of\u00a0ECL\u00a0allowance
(24)
(1)
\u2014
1
\u2014
(24)
(27)
\u2014
\u2014
(1)
\u2014
(28)
Recoveries of amounts
previously written-off
(7)
\u2014
\u2014
(1)
\u2014
(8)
(8)
\u2014
\u2014
\u2014
\u2014
(8)
Net credit impairment
(writeback)/charge
(31)
(1)
\u2014
\u2014
\u2014
(32)
(35)
\u2014
\u2014
(1)
\u2014
(36)
Loans and advances to customers - residential mortgages
Indexed loan-to-value ratios of the Group\u2019s residential mortgage portfolio
The following table profiles the residential mortgage portfolio by the indexed loan-to-value (LTV) ratios at 31 December 2025 and 2024:
2025
2024
(Audited)
At amortised cost
At amortised cost
Stage 1
Stage 2
Stage 3
POCI
Total
Stage 1
Stage 2
Stage 3
POCI
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Less than 80%
32,790
1,752
542
138
35,222
31,968
1,830
702
154
34,654
81 \u2013 100%
2,077
32
28
5
2,142
2,082
26
42
5
2,155
100 \u2013 120%
40
3
9
3
55
32
2
9
1
44
Greater than 120%
89
4
10
2
105
80
6
15
3
104
Total with LTVs
34,996
1,791
589
148
37,524
34,162
1,864
768
163
36,957
Unsecured
3
1
2
1
7
3
1
2
7
13
Total
34,999
1,792
591
149
37,531
34,165
1,865
770
170
36,970
Of which:
Owner-occupier
Less than 80%
31,864
1,629
501
128
34,122
30,950
1,669
646
146
33,411
81 \u2013 100%
2,073
32
23
4
2,132
2,077
27
31
3
2,138
100 \u2013 120%
39
2
6
1
48
31
1
7
1
40
Greater than 120%
87
4
7
1
99
76
5
10
3
94
Total with LTVs
34,063
1,667
537
134
36,401
33,134
1,702
694
153
35,683
Unsecured
2
\u2014
1
1
4
2
\u2014
1
2
5
Total
34,065
1,667
538
135
36,405
33,136
1,702
695
155
35,688
The following table analyses other personal lending at amortised cost by segment, internal credit ratings and ECL staging at 31 December 2025 and 2024:
(Audited)
2025
2024
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Gross carrying amount
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Credit cards
750
13
\u2014
20
\u2014
783
736
9
\u2014
22
\u2014
767
Loans/overdrafts
2,532
84
\u2014
40
\u2014
2,656
2,370
84
\u2014
44
\u2014
2,498
Total
3,282
97
\u2014
60
\u2014
3,439
3,106
93
\u2014
66
\u2014
3,265
Analysed by internal credit ratings
Strong
489
14
\u2014
55
\u2014
558
469
9
\u2014
59
\u2014
537
Satisfactory
1,900
77
\u2014
4
\u2014
1,981
1,797
76
\u2014
6
\u2014
1,879
Total strong/satisfactory
2,389
91
\u2014
59
\u2014
2,539
2,266
85
\u2014
65
\u2014
2,416
Criticised watch
796
6
\u2014
\u2014
\u2014
802
728
8
\u2014
\u2014
\u2014
736
Criticised recovery
11
\u2014
\u2014
\u2014
\u2014
11
13
\u2014
\u2014
\u2014
\u2014
13
Total criticised
807
6
\u2014
\u2014
\u2014
813
741
8
\u2014
\u2014
\u2014
749
Non-performing
86
\u2014
\u2014
1
\u2014
87
99
\u2014
\u2014
1
\u2014
100
Gross carrying amount
3,282
97
\u2014
60
\u2014
3,439
3,106
93
\u2014
66
\u2014
3,265
Analysed by ECL staging
Stage 1
2,662
90
\u2014
57
\u2014
2,809
2,403
84
\u2014
62
\u2014
2,549
Stage 2
534
7
\u2014
2
\u2014
543
604
9
\u2014
3
\u2014
616
Stage 3
86
\u2014
\u2014
1
\u2014
87
99
\u2014
\u2014
1
\u2014
100
POCI
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Total
3,282
97
\u2014
60
\u2014
3,439
3,106
93
\u2014
66
\u2014
3,265
ECL allowance \u2013 statement of financial position
Stage 1
21
1
\u2014
\u2014
\u2014
22
18
1
\u2014
\u2014
\u2014
19
Stage 2
48
\u2014
\u2014
\u2014
\u2014
48
51
1
\u2014
\u2014
\u2014
52
Stage 3
60
\u2014
\u2014
1
\u2014
61
65
\u2014
\u2014
1
\u2014
66
POCI
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Total
129
1
\u2014
1
\u2014
131
134
2
\u2014
1
\u2014
137
ECL allowance cover
percentage
%
%
%
%
%
%
%
%
%
%
%
%
Stage 1
0.8
1.1
\u2014
\u2014
\u2014
0.8
0.8
0.6
\u2014
\u2014
\u2014
0.7
Stage 2
9.0
\u2014
\u2014
\u2014
\u2014
8.8
8.5
9.3
\u2014
\u2014
\u2014
8.5
Stage 3
69.8
\u2014
\u2014
100.0
\u2014
70.1
65.4
\u2014
\u2014
63.0
\u2014
65.3
POCI
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Income statement
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Net remeasurement
of\u00a0ECL\u00a0allowance
71
(1)
\u2014
\u2014
\u2014
70
81
\u2014
\u2014
\u2014
\u2014
81
Recoveries of amounts
previously written-off
(1)
\u2014
\u2014
\u2014
\u2014
(1)
(2)
\u2014
\u2014
\u2014
\u2014
(2)
Net credit impairment
charge/(writeback)
70
(1)
\u2014
\u2014
\u2014
69
79
\u2014
\u2014
\u2014
\u2014
79
The following table analyses property and construction lending at amortised cost by segment, internal credit ratings and ECL staging at
31 December 2025 and 2024:
(Audited)
2025
2024
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Gross carrying amount
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Investment:
Residential investment
28
1,441
\u2014
583
\u2014
2,052
40
1,671
\u2014
409
\u2014
2,120
Student housing
\u2014
304
\u2014
571
\u2014
875
\u2014
337
\u2014
541
\u2014
878
Housing associations
\u2014
232
\u2014
577
\u2014
809
\u2014
157
\u2014
486
\u2014
643
Commercial investment \u2013
Office
17
1,240
\u2014
377
\u2014
1,634
23
1,433
\u2014
400
\u2014
1,856
Commercial investment \u2013
Retail
30
361
\u2014
41
\u2014
432
35
658
\u2014
90
\u2014
783
Commercial investment \u2013
Mixed
34
763
\u2014
145
\u2014
942
49
697
\u2014
116
\u2014
862
Commercial investment \u2013
Industrial
16
284
\u2014
250
\u2014
550
20
280
\u2014
160
\u2014
460
Total investment
125
4,625
\u2014
2,544
\u2014
7,294
167
5,233
\u2014
2,202
\u2014
7,602
Land and development:
Residential development
26
513
\u2014
80
\u2014
619
25
574
\u2014
101
\u2014
700
Commercial development
3
7
\u2014
79
\u2014
89
5
14
\u2014
90
\u2014
109
Total land and development
29
520
\u2014
159
\u2014
708
30
588
\u2014
191
\u2014
809
Contractors
253
111
\u2014
23
\u2014
387
231
91
\u2014
28
\u2014
350
Total
407
5,256
\u2014
2,726
\u2014
8,389
428
5,912
\u2014
2,421
\u2014
8,761
Analysed by internal credit ratings
Strong
30
2,167
\u2014
1,184
\u2014
3,381
54
4,473
\u2014
1,108
\u2014
5,635
Satisfactory
271
2,286
\u2014
1,418
\u2014
3,975
243
616
\u2014
1,227
\u2014
2,086
Total strong/satisfactory
301
4,453
\u2014
2,602
\u2014
7,356
297
5,089
\u2014
2,335
\u2014
7,721
Criticised watch
68
154
\u2014
23
\u2014
245
72
50
\u2014
3
\u2014
125
Criticised recovery
8
378
\u2014
59
\u2014
445
13
356
\u2014
7
\u2014
376
Total criticised
76
532
\u2014
82
\u2014
690
85
406
\u2014
10
\u2014
501
Non-performing
30
271
\u2014
42
\u2014
343
46
417
\u2014
76
\u2014
539
Gross carrying amount
407
5,256
\u2014
2,726
\u2014
8,389
428
5,912
\u2014
2,421
\u2014
8,761
Analysed by ECL staging
Stage 1
294
2,879
\u2014
2,487
\u2014
5,660
285
3,102
\u2014
2,110
\u2014
5,497
Stage 2
83
2,106
\u2014
197
\u2014
2,386
97
2,393
\u2014
235
\u2014
2,725
Stage 3
29
271
\u2014
42
\u2014
342
44
417
\u2014
76
\u2014
537
POCI
1
\u2014
\u2014
\u2014
\u2014
1
2
\u2014
\u2014
\u2014
\u2014
2
Total
407
5,256
\u2014
2,726
\u2014
8,389
428
5,912
\u2014
2,421
\u2014
8,761
ECL allowance \u2013 statement of financial position
Stage 1
1
59
\u2014
17
\u2014
77
1
44
\u2014
15
\u2014
60
Stage 2
4
202
\u2014
10
\u2014
216
5
208
\u2014
13
\u2014
226
Stage 3
15
116
\u2014
9
\u2014
140
15
149
\u2014
15
\u2014
179
POCI
(1)
\u2014
\u2014
\u2014
\u2014
(1)
(1)
\u2014
\u2014
\u2014
\u2014
(1)
Total
19
377
\u2014
36
\u2014
432
20
401
\u2014
43
\u2014
464
ECL allowance cover
percentage
%
%
%
%
%
%
%
%
%
%
%
%
Stage 1
0.3
2.0
\u2014
0.7
\u2014
1.4
0.4
1.4
\u2014
0.7
\u2014
1.1
Stage 2
4.8
9.6
\u2014
5.1
\u2014
9.1
5.0
8.7
\u2014
5.6
\u2014
8.3
Stage 3
51.7
42.8
\u2014
21.4
\u2014
40.9
35.2
35.8
\u2014
19.6
\u2014
33.4
POCI
(100.0)
\u2014
\u2014
\u2014
\u2014
(100.0)
(51.4)
\u2014
\u2014
\u2014
\u2014
(51.4)
Income statement
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Net remeasurement of ECL
allowance
2
28
\u2014
22
\u2014
52
1
(6)
\u2014
14
\u2014
9
Recoveries of amounts
previously written-off
(3)
(3)
\u2014
\u2014
\u2014
(6)
(3)
(3)
\u2014
\u2014
\u2014
(6)
Net credit impairment
(writeback)/charge
(1)
25
\u2014
22
\u2014
46
(2)
(9)
\u2014
14
\u2014
3
The following table analyses non-property business lending at amortised cost by segment, internal credit ratings and ECL staging at 31 December 2025
and 2024:
(Audited)
2025
2024
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Retail
Banking
Capital
Markets
C&IC
AIB
UK
Group
Total
Gross carrying amount
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Natural resources
18
269
4,974
182
\u2014
5,443
18
531
4,204
242
\u2014
4,995
Of which renewables
\u2014
1
4,949
22
\u2014
4,972
\u2014
282
4,176
21
\u2014
4,479
Leisure
240
2,016
\u2014
540
\u2014
2,796
298
2,016
\u2014
628
\u2014
2,942
Manufacturing
146
2,462
\u2014
286
\u2014
2,894
148
2,395
\u2014
210
\u2014
2,753
Health, education and
social work
104
1,383
\u2014
400
\u2014
1,887
109
1,327
\u2014
443
\u2014
1,879
Services
552
1,426
257
223
\u2014
2,458
532
1,174
265
279
\u2014
2,250
Agriculture, forestry and fishing
1,240
350
\u2014
44
\u2014
1,634
1,284
353
\u2014
54
\u2014
1,691
Retail and wholesale trade
338
1,608
\u2014
113
\u2014
2,059
381
1,408
\u2014
106
\u2014
1,895
Transport and storage
213
914
348
364
\u2014
1,839
205
785
394
464
\u2014
1,848
Telecommunications,
media and\u00a0technology
29
589
763
63
\u2014
1,444
33
715
665
37
\u2014
1,450
Financial, insurance and
other government\u00a0activities
25
197
\u2014
133
91
446
25
314
\u2014
81
50
470
Total
2,905
11,214
6,342
2,348
91
22,900
3,033
11,018
5,528
2,544
50
22,173
Of which Syndicated &
International Finance (SIF)
\u2014
3,342
\u2014
\u2014
\u2014
3,342
\u2014
2,803
\u2014
\u2014
\u2014
2,803
Analysed by internal credit ratings
Strong
149
4,466
5,367
1,473
\u2014
11,455
141
5,674
4,858
1,452
20
12,145
Satisfactory
2,176
6,002
656
787
91
9,712
2,189
4,726
579
778
30
8,302
Total strong/satisfactory
2,325
10,468
6,023
2,260
91
21,167
2,330
10,400
5,437
2,230
50
20,447
Criticised watch
396
568
50
33
\u2014
1,047
453
393
2
45
\u2014
893
Criticised recovery
34
67
66
24
\u2014
191
53
115
51
122
\u2014
341
Total criticised
430
635
116
57
\u2014
1,238
506
508
53
167
\u2014
1,234
Non-performing
150
111
203
31
\u2014
495
197
110
38
147
\u2014
492
Gross carrying amount
2,905
11,214
6,342
2,348
91
22,900
3,033
11,018
5,528
2,544
50
22,173
Analysed by ECL staging
Stage 1
2,245
9,585
5,245
2,178
91
19,344
2,241
9,349
5,206
2,062
50
18,908
Stage 2
507
1,517
894
139
\u2014
3,057
591
1,558
284
335
\u2014
2,768
Stage 3
145
111
203
31
\u2014
490
188
109
38
147
\u2014
482
POCI
8
1
\u2014
\u2014
\u2014
9
13
2
\u2014
\u2014
\u2014
15
Total
2,905
11,214
6,342
2,348
91
22,900
3,033
11,018
5,528
2,544
50
22,173
ECL allowance \u2013 statement of financial position
Stage 1
8
31
4
18
\u2014
61
10
46
19
20
\u2014
95
Stage 2
26
120
31
10
\u2014
187
30
125
20
18
\u2014
193
Stage 3
57
28
59
17
\u2014
161
65
42
6
80
\u2014
193
POCI
(4)
(1)
\u2014
\u2014
\u2014
(5)
(7)
(1)
\u2014
\u2014
\u2014
(8)
Total
87
178
94
45
\u2014
404
98
212
45
118
\u2014
473
ECL allowance cover
percentage
%
%
%
%
%
%
%
%
%
%
%
%
Stage 1
0.4
0.3
0.1
0.8
\u2014
0.3
0.4
0.5
0.4
1.0
\u2014
0.5
Stage 2
5.1
7.9
3.5
7.2
\u2014
6.1
5.0
8.0
6.9
5.4
\u2014
6.9
Stage 3
39.3
25.2
29.1
54.8
\u2014
32.9
34.6
38.7
16.0
55.0
\u2014
40.2
POCI
(50.0)
(100.0)
\u2014
\u2014
\u2014
(55.6)
(48.6)
(57.2)
\u2014
\u2014
\u2014
(49.7)
Income statement
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Net remeasurement of ECL
allowance
19
(8)
69
26
\u2014
106
(5)
(63)
22
76
\u2014
30
Recoveries of amounts
previously written-off
(4)
(1)
\u2014
(6)
\u2014
(11)
(7)
(7)
\u2014
(2)
\u2014
(16)
Net credit impairment
charge/(writeback)
15
(9)
69
20
\u2014
95
(12)
(70)
22
74
\u2014
14
External credit ratings of certain financial asset s (audited)
The following table sets out the credit quality, based on external credit ratings, of financial assets measured at 31 December 2025 and 2024:
\u2022 Amortised cost: Loans and advances to banks of \u20ac601 million (2024: \u20ac1,321 million), securities financing of \u20ac7,339 million (2024: \u20ac6,643 million),
investment debt securities at amortised cost of \u20ac5,043 million (2024: \u20ac4,803 million);
\u2022 FVOCI: Investment debt securities at FVOCI of \u20ac16,201 million (2024: \u20ac13,568 million); and
\u2022 FVTPL: Trading portfolio of financial assets of \u20ac276 million (2024: \u20ac121 million).
Information on the credit ratings for loans and advances to customers where\u00a0an external credit rating is available is disclosed on page 219.
2025
2024
(Audited)
At amortised cost
At amortised cost
Bank
Corporate
Sovereign
Other
Total
Bank
Corporate
Sovereign
Other
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
AAA/AA
1,410
\u2014
2,372
2,235
6,017
1,213
\u2014
2,412
1,946
5,571
A/A-
4,819
1,513
75
94
6,501
5,391
1,240
17
167
6,815
BBB+/BBB/BBB-
5
357
\u2014
\u2014
362
15
245
34
\u2014
294
Sub investment
5
47
\u2014
\u2014
52
3
25
\u2014
\u2014
28
Unrated
1
50
\u2014
\u2014
51
6
53
\u2014
\u2014
59
Total
6,240
1,967
2,447
2,329
1
12,983
6,628
1,563
2,463
2,113
1
12,767
Of which:
Stage 1
6,240
1,967
2,447
2,329
12,983
6,628
1,563
2,463
2,113
12,767
Stage 2
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Stage 3
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
2025
2024
(Audited)
At FVOCI
At FVOCI
Bank
Corporate
Sovereign
Other
Total
Bank
Corporate
Sovereign
Other
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
AAA/AA
5,296
188
6,172
107
11,763
5,164
196
5,002
153
10,515
A/A-
1,103
532
1,479
\u2014
3,114
1,205
373
490
\u2014
2,068
BBB+/BBB/BBB-
185
213
926
\u2014
1,324
163
169
643
\u2014
975
Sub investment
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Unrated
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
10
\u2014
10
Total
6,584
933
8,577
2
107
16,201
6,532
738
6,145
2
153
13,568
Of which:
Stage 1
6,584
933
8,577
107
16,201
6,532
738
6,145
153
13,568
Stage 2
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Stage 3
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
2025
2024
(Audited)
At FVTPL
At FVTPL
Bank
Corporate
Sovereign
Other
Total
Bank
Corporate
Sovereign
Other
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
AAA/AA
\u2014
\u2014
171
\u2014
171
\u2014
\u2014
103
\u2014
103
A/A-
3
3
91
\u2014
97
\u2014
\u2014
\u2014
\u2014
\u2014
BBB+/BBB/BBB-
8
\u2014
\u2014
\u2014
8
10
6
\u2014
\u2014
16
Sub investment
\u2014
\u2014
\u2014
\u2014
\u2014
2
\u2014
\u2014
\u2014
2
Unrated
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Total
11
3
262
\u2014
276
12
6
103
\u2014
121
Of which:
Stage 1
11
3
262
\u2014
276
12
6
103
\u2014
121
Stage 2
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Stage 3
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
1. Relates to asset backed securities.
2. Includes supranational banks and government agencies.
Management and measurement (audited)
The Market Risk Management Framework and policies set out the key
requirements for managing market risk. The key aspects of this are:
\u2022 The Group\u2019s Treasury function is responsible for managing market risk.
Treasury also has a mandate to trade on its own account in selected
wholesale markets with risk tolerances approved on an annual basis
through the Group\u2019s Risk Appetite process;
\u2022 The Group documents its annual Market Risk Strategy to ensure market
risk aligns with the Group\u2019s strategic business plan; and
\u2022 Market risk is managed against a range of Board approved internal
capital limits which cover market risk in the trading book, interest rate
risk and credit spread risk in the banking book. The Board approved
limits are supplemented by a range of Level 2 GRC limits and Level 3
ALCo approved limits which include nominal, sensitivity limits and \u2018stop
loss\u2019 limits.
Market risk is managed and measured using portfolio sensitivities, internal
capital limits Value at Risk (VaR) and stress testing. Interest rate gaps and
sensitivities to various risk factors are measured and reported on a daily
basis. In terms of the VaR metric, the Group calculates a daily historical
simulation VaR to a 95% confidence level, using a one day holding period
and based on one year of historic data. In addition to VaR, Capital at Risk
(CaR) is also measured to a one year1 time horizon, a 99% confidence
level and a longer set of data.
Credit risk issues inherent in the market risk portfolios are also subject to
the Credit Risk Framework that is described in section 2.1.
The Group maintains a Structural Hedging Programme (SHP), subject to
oversight by ALCo. The SHP provides a framework for assessing and re-
balancing the extent of earnings sensitivity (to market rate changes) versus
the economic value (or capital) attributed to IRRBB. Forecast structural
changes in the composition of the balance sheet are a key driver of the
annual SHP strategy. From an IRRBB capital perspective the SHP strategy
seeks to maintain a broadly duration-matched repricing term profile where
term asset positions (typically, interest rate derivatives and fixed rate
mortgages) are offset by stable, non and low interest-bearing liabilities,
principally comprising current accounts and deposits, and equity.
The SHP strategy provides an effective basis for stabilising income over
the medium term and\u00a0 protecting income during periods of falling interest
rates. SHP interest rate derivatives are subject to either cash flow hedging
of floating-rate assets or macro fair value hedging of customer deposits.
Monitoring, escalating and reporting (audited)
On a daily basis front office and risk functions receive a range of valuation,
sensitivity and market risk measurement reports, while ALCo receives a
monthly market risk commentary and summary risk profile. Market risk
exposures are reported to the GRC and BRC on a monthly basis through
the CRO Report.
1. The Capital at Risk on core trading book positions is assessed using a ten day horizon, with the exception of FX which is assessed using a one year horizon.
2.2 Market and equity risk continued
(a) Market risk continued (audited)
The following table sets out financial assets and financial liabilities at 31 December 2025 and 2024 subject to market risk analysed between trading and
non-trading portfolios, showing the principal market risks to which the assets and liabilities are exposed:
2025
(Audited)
Market risk measures
Carrying
amount
Trading
portfolios
Non-trading
portfolios
\u20ac m
\u20ac m
\u20ac m
Risk factors
Assets subject to market risk
Cash and balances at central banks
40,571
\u2014
40,571
Interest rate, foreign exchange
Trading portfolio financial assets
286
286
\u2014
Interest rate, foreign exchange, equity
Derivative financial instruments
1,641
348
1,293
Interest rate, foreign exchange, credit
spreads, equity, inflation rates, wholesale
electricity prices
Loans and advances to banks
601
\u2014
601
Interest rate, foreign exchange
Loans and advances to customers
71,200
\u2014
71,200
Interest rate, foreign exchange
Securities financing
7,339
\u2014
7,339
Interest rate, credit spreads, foreign exchange
Investment securities
21,548
\u2014
21,548
Interest rate, foreign exchange, credit
spreads, equity
Liabilities subject to market risk
Deposits and advances from banks
156
\u2014
156
Interest rate, foreign exchange
Deposits and advances from customers
117,671
\u2014
117,671
Interest rate, foreign exchange
Securities financing
682
\u2014
682
Interest rate, credit spreads, foreign exchange
Trading portfolio financial liabilities
525
525
\u2014
Interest rate, foreign exchange, equity
Derivative financial instruments
1,408
319
1,089
Interest rate, foreign exchange, credit
spreads, equity, inflation rates, wholesale
electricity prices
Debt securities in issue
8,183
\u2014
8,183
Interest rate, credit spreads, foreign exchange
Tier 2 subordinated liabilities and other capital instruments
2,626
\u2014
2,626
Interest rate, credit spreads
2024
(Audited)
Market risk measures
Carrying
amount
Trading
portfolios
Non-trading
portfolios
\u20ac m
\u20ac m
\u20ac m
Risk factors
Assets subject to market risk
Cash and balances at central banks
37,315
\u2014
37,315
Interest rate, foreign exchange
Trading portfolio financial assets
136
136
\u2014
Interest rate, foreign exchange, equity
Derivative financial instruments
2,144
425
1,719
Interest rate, foreign exchange, credit spreads,
equity, inflation rates, wholesale electricity prices
Loans and advances to banks
1,321
\u2014
1,321
Interest rate, foreign exchange
Loans and advances to customers
69,889
\u2014
69,889
Interest rate, foreign exchange
Securities financing
6,643
\u2014
6,643
Interest rate, credit spreads, foreign exchange
Investment securities
18,668
\u2014
18,668
Interest rate, foreign exchange, credit spreads,
equity
Liabilities subject to market risk
Deposits and advances from banks
836
\u2014
836
Interest rate, foreign exchange
Deposits and advances from customers
109,883
\u2014
109,883
Interest rate, foreign exchange
Securities financing
196
\u2014
196
Interest rate, credit spreads, foreign exchange
Trading portfolio financial liabilities
262
262
\u2014
Interest rate, foreign exchange, equity
Derivative financial instruments
1,807
461
1,346
Interest rate, foreign exchange, credit spreads,
equity, inflation rates, wholesale electricity prices
Debt securities in issue
8,832
\u2014
8,832
Interest rate, credit spreads, foreign exchange
Tier 2 subordinated liabilities and other capital instruments
1,627
\u2014
1,627
Interest rate, credit spreads
Interest rate sensitivity (audited)
The table below shows the sensitivity of the Group\u2019s banking book to an immediate and sustained +/- 100 basis point, +/-50 basis point and +/-25\u00a0basis
point movement in interest rates, in terms of the impact on net interest income on a forward looking basis over a 12 month period, assuming no change
in the balance sheet.
Sensitivity of projected net interest income to interest rate movements:
December 2025 (audited)
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
- 100bps
- 50bps
- 25bps
+ 25bps
+ 50bps
+ 100bps
Euro
(307)
(156)
(76)
76
158
317
Sterling
(44)
(21)
(11)
11
22
43
Other (mainly USD)
(27)
(14)
(7)
7
13
27
Total
(378)
(191)
(94)
94
193
387
December 2024 (audited)
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
- 100bps
- 50bps
- 25bps
+ 25bps
+ 50bps
+ 100bps
Euro
(385)
(189)
(93)
80
163
329
Sterling
(37)
(19)
(9)
9
19
37
Other (mainly USD)
(17)
(8)
(4)
4
8
17
Total
(439)
(216)
(106)
93
190
383
Interest rate sensitivity has continued to be a material risk management
priority during 2025, given the evolution in the structural balance sheet,
the falling interest rate environment and the Bank\u2019s structural hedging
objectives. The year-on-year reduction in the reported sensitivity (-100bps
scenario) has been a considered response to the changes in customer
and wholesale volumes, retail rate pass through model dynamics and
relevant regulatory constraints (in the form of Supervisory Outlier Test
thresholds). On the liability side, the strong absolute growth in overall
customer balances continued to reflect the slowdown in deposit balance
migration from interest insensitive to interest-bearing products.\u00a0 On the
asset side, the excess liquidity was absorbed primarily by increases in
customer mortgage lending (with SVR growing faster than fixed rate
products), in wholesale assets (mostly bonds, swapped to floating) and
larger balances held with the CBI. The resulting net increase in structural
sensitivity during 2025 was offset by another material increase in Euro
structural hedging (being a mix of swaps and unhedged fixed rate
mortgages). Given the composition of the balance sheet, and its expected
evolution, the trade\u2011off between managing IRRBB earnings (NII Sensitivity)
and economic value (Capital at Risk) perspectives will continue to be a
priority. The above sensitivity table is computed under the assumption of a
\u2018static\u2019 balance sheet, that all market rates (Risk Free Rates/Euribors/
Swaps,etc) move up/down in parallel and use AIB\u2019s internal retail rate
pass through models, the nature of which can give risk to the asymmetry
evident in the delta between the 2024 and 2025 results.
Group interest rate and foreign exchange rate VaR are calculated to a
95% confidence level with a one day holding period, and equity VaR is
calculated to a 99% confidence level with a one day holding period.
At 31 December 2025, interest rate VaR stood at \u20ac13.06 million, foreign
exchange rate VaR at \u20ac0.12 million and equity VaR at \u20ac0.22 million.
The Group recognises the limitations of VaR models, and supplements its
VaR measures with stress tests which draw from a longer set of historical
data and also with sensitivity measures.
Management and measurement (audited)
The pension risk framework and policies set out the key risk management
rules in place for this risk. Each Trustee is ultimately responsible for the
investment strategy of the schemes, however, the Group engages with
each Trustee regarding risk and investment strategy.
The Group has developed a strategy for each of its defined benefit
schemes which include the following steps:
1. All defined benefit schemes are closed to future accrual.
2. They have funding plans (or are funded as required for the US schemes)
and each defined benefit scheme has an investment strategy in place.
3. All schemes have a strategy of de-risking in line with their regulatory
requirements, funding positions and funding plans, taking into account
the nature of their liabilities.
The Irish Scheme continued to de-risk in 2025, with further sales of
equities and additional investments in its Liability Driven Investment (LDI)
portfolio, which is in place to hedge its interest rate and inflation risk. The
LDI portfolio is comprised of a mixture of nominal bonds, inflation linked
bonds as well as interest rate and inflation derivatives.
Independent actuarial valuations for the Irish scheme and the UK scheme
are carried out on a triennial basis by the schemes\u2019 actuary, Mercer. The
most recent valuation of the Irish scheme was carried out at 30 June 2024
and reported the scheme to be in surplus. The next actuarial valuation of the
Irish scheme will be prepared with an effective date of 30 June 2027 with the
results expected by 31 March 2028. No deficit funding is required at this time
as the Irish scheme continues to meet the minimum funding standard. The
most recent valuation of the UK scheme was carried out at 31 December
2023. The next actuarial valuation of the UK scheme will be carried out for
31 December 2026 with the results expected by 31 March 2028.
The Group and the Trustee began a substantial de-risking process of the UK
scheme in 2019, with the initial purchase of a buy-in for the pensioner
members and an assured payment policy for the deferred pensioner
members. The de-risking was completed in 2025 and all members\u2019 benefits
are now substantially covered by buy-in policies which match the amount
and timing of the benefits payable to the members covered. To complete
the conversion to buy-in, the Group made total payments of \u00a316.1m in
2025. This was made up of \u00a32 million contributions to meet scheme
expenses and \u00a314.1 million to cover the final buy-in transaction, the
expected cost of insuring Guaranteed Minimum Pension (GMP)
equalisation and data true-up liabilities, and a cash buffer to ensure the
scheme has sufficient liquidity to pay benefits as they fall due. The Group
expects to make payments of \u00a32.6 million in 2026, which includes \u00a32
million for expected Trustee expenses and an additional \u00a30.6 million in
respect of the difference between the initial and final buy-in pricing from
Legal and Assurance Society (LGAS). These payments and any other related
costs are subject to change prior to finalisation.
Monitoring, escalating and reporting (audited)
Pension risk is monitored and controlled in line with the requirements of
the Group\u2019s pension risk framework and policy. The surplus or deficit is
monitored on a monthly basis by the Group\u2019s risk team and is currently
reported monthly in both the financial risk report to the Group Asset &
Liabilities Committee and the Group CRO report to GRC and BRC.
Pension risk is also included in the internal stress test process. The output
of these stress tests is reviewed by ALCo and on an annual basis an ICAAP
Report is produced which is a comprehensive analysis of the Group\u2019s
capital position in base and stress scenarios over a three year horizon.
This document is reviewed and approved by the Board and is submitted to
the Joint Supervisory Team.
The pension capital-at-risk exposure is measured and reported monthly in
the CRO report against a Group Risk Appetite Statement watch trigger.
While the Group has taken certain risk mitigating actions, a level of
volatility associated with pension funding remains due to potential
financial market fluctuations and possible changes to pension and
accounting regulations.
Management and measurement (audited)
The objective of liquidity management is to ensure that, at all times,
the\u00a0Group holds sufficient funds to meet its contracted and contingent
commitments to customers and counterparties at an economic price. The
ILAAP Framework and supporting Funding and Liquidity Risk Policy set out\u00a0 \u00a0
the key requirements for managing the risk. These include:
\u2022 Adherence to both internal limits and regulatory defined liquidity ratios
including the Liquidity Coverage Ratio (LCR) and the Net Stable Funding
Ratio (NSFR). The LCR is designed to promote short-term resilience of the
Group\u2019s liquidity risk profile by ensuring that it has sufficient high-quality
liquid resources to survive an acute stress scenario lasting for 30 days.
The NSFR has a time horizon of one year and has been developed to
promote a sustainable maturity structure of assets and liabilities;
\u2022 Performing a multi-year projection of the Group\u2019s funding sources,
through the Group\u2019s Funding and Liquidity Plan. The purpose of this
plan is to set out a comprehensive, forward looking liquidity and funding
strategy for the Group, including material subsidiary companies;
\u2022 Assessing the Funding and Liquidity Plan under a range of adverse
scenarios, the outcomes of which should ensure sufficient liquidity to
implement a sustainable strategy, even in a stressed environment;
\u2022 Maintaining a Contingency Funding Plan that identifies and quantifies
actions that are available to the Group in deteriorating liquidity
conditions and to help it emerge from a temporary liquidity crisis as a
credit-worthy institution;
\u2022 Monitoring a further set of triggers and liquidity options outlined in the
Group\u2019s Recovery Plan, which presents the actions available to the
Group to restore viability in the event of extreme stress; and
\u2022 Having an approved liquidity cost-benefit allocation mechanism in place to
attribute funding costs, benefits and risks to the Group\u2019s business lines.
Monitoring, escalating and reporting
The Group liquidity and funding position is reported regularly to the
Finance and Risk functions, ALCo, GRC and BRC. In addition, the ELT
and the Board are briefed on liquidity and funding on an ongoing basis.
On an annual basis, the Board attests to the Group\u2019s liquidity adequacy
via the Liquidity Adequacy Statement as part of the ILAAP. The Group\u2019s
ILAAP encompasses all aspects of liquidity and funding management,
including planning, analysis, stress testing, control, governance, policy
and contingency planning. This document is submitted to the JST and
forms the basis of their supervisory review and evaluation process.
Management of the Group liquidity pool
The Group manages the liquidity pool on a centralised basis and primarily
comprises government guaranteed bonds, balances with central banks
and covered bonds. The composition of the liquidity pool is subject to limits
recommended by the Risk function and approved by the Board.
At 31 December 2025, the Group held \u20ac76,080 million (2024: \u20ac69,063
million) in qualifying liquid assets (QLA)1 of which \u20ac8,807 million (2024:\u00a0 \u00a0
\u20ac7,599 million) was not available due to repurchase, secured loans and
other restrictions.
At 31 December 2025, the Group's available QLA was \u20ac67,273 million
(2024: \u20ac61,464 million). During 2025, the available QLA ranged from
\u20ac59,549 million to \u20ac69,016 million (2024: \u20ac58,359 million to
\u20ac63,503\u00a0million) and the average balance was \u20ac63,831 million\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
(2024:\u00a0\u20ac60,513 million).
The Group\u2019s available QLA increased in 2025 by \u20ac5,809 million, which was
predominantly due to an increase in customer deposits in Ireland, debt
market issuance offset by an increase in customer loans, debt market
buybacks, contractual debt maturities, dividend payouts and an increase
in securities financing activities where cash was exchanged for non-QLA
eligible collateral.
1. QLA are assets that can be readily converted into cash, either with the market or with the
monetary authorities, and where there is no\u00a0legal, operational or prudential impediments to
their use as liquid\u00a0assets.
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Other contingent liquidity
The Group has access to other unencumbered assets, providing a source
of contingent liquidity, which are not in the Group\u2019s liquidity pool.
However, these assets may be monetised in a stress scenario to generate
liquidity through use as collateral for secured funding or outright sale.
Liquidity stress testing
Liquidity stress testing is a key component of the ILAAP Framework. The
purpose of these tests is to ensure the continued stability of the Group\u2019s
liquidity position within the Group\u2019s pre-defined liquidity risk tolerance
levels. The Group undertakes liquidity stress testing that includes both
firm-specific and systemic risk events and a combination of both as a key
liquidity control. Stressed assumptions are applied to the Group\u2019s liquidity
buffer and liquidity risk drivers. This estimates the potential impact of a
range of stress scenarios on the Group\u2019s liquidity position. Actions and
strategies available to mitigate the impacts of the stress scenarios are
evaluated as to their appropriateness. Liquidity stress test results are
reported to the ALCo, ELT and Board.
Funding structure (audited)
The Group\u2019s funding strategy is to deliver a sustainable, diversified and
robust customer deposit base at economic pricing and to further enhance
and strengthen the wholesale funding franchise, with appropriate access
to term markets to support core lending activities. The strategy aims to
deliver a solid funding structure that complies with internal and regulatory
policy requirements and reduces the probability of a liquidity stress, i.e.
an inability to meet funding obligations as they fall due.
Deposits and advances from customers represent the largest source of
funding for the Group, with the core retail franchises and accompanying
deposit base in both Ireland and the UK providing a stable and reasonably
predictable source of funds.
Deposits and advances from
2025
2024
customers (audited)
\u20ac m
\u20ac m
Total
117,671
109,883
Of which:
Euro
106,361
98,270
Sterling
9,631
9,754
US Dollar
1,418
1,624
Other currencies
261
235
Deposits and advances from customers increased by \u20ac7,788 million in
2025, driven by higher personal and SME balances. This was
predominantly reflected in higher Euro deposit products (time deposits,
current\u00a0 accounts and demand deposits), offset by a decrease in Group
significant currencies (GBP and USD). There was a \u20ac329 million decrease
in the Euro equivalent of GBP and USD deposits. This was mainly due to
negative currency movements of\u00a0 \u20ac690 million offset by an underlying
\u20ac361 million increase on a constant currency basis.
Composition of wholesale funding1 (audited)
The Group maintains access to a variety of sources of wholesale funding, including bank deposits, securities financing, debt securities and subordinated
debt. At 31 December 2025, total wholesale funding outstanding was \u20ac11,647 million (2024: \u20ac11,491 million), of which \u20ac1,720 million is due to mature
in less than one year (2024: \u20ac2,366 million).
(Audited)
2025
< 1
month
\u20ac m
1\u20133
months
\u20ac m
3\u20136
months\u00a0 \u20ac
m
6\u201312
months\u00a0 \u20ac
m
Total
< 1 year
\u20ac m
1\u20133
years
\u20ac m
3\u20135 years
\u20ac m
> 5
years
\u20ac m
Total
\u20ac m
Deposits and advances from banks
156
\u2014
\u2014
\u2014
156
\u2014
\u2014
\u2014
156
Securities financing
324
358
\u2014
\u2014
682
\u2014
\u2014
\u2014
682
Debt securities in issue:
Senior debt
\u2014
\u2014
\u2014
\u2014
\u2014
1,720
2,382
3,065
7,167
ACS
1
\u2014
\u2014
5
6
20
\u2014
\u2014
26
Credit linked notes
\u2014
\u2014
\u2014
\u2014
\u2014
66
\u2014
48
114
Commercial paper
108
676
67
25
876
\u2014
\u2014
\u2014
876
Tier 2 subordinated liabilities and
other\u00a0capital\u00a0instruments
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
2,626
2,626
Total 31 December
589
1,034
67
30
1,720
1,806
2,382
5,739
11,647
Of which:
Secured
325
358
\u2014
5
688
86
\u2014
48
822
Unsecured
264
676
67
25
1,032
1,720
2,382
5,691
10,825
589
1,034
67
30
1,720
1,806
2,382
5,739
11,647
1. The maturity analysis has been prepared using the residual contractual maturity of the liabilities.
2.3 Liquidity and funding risk continued
Composition of wholesale funding1 continued (audited)
(Audited)
2024
< 1 month
\u20ac m
1\u20133
months
\u20ac m
3\u20136
months
\u20ac m
6\u201312
months
\u20ac m
Total
< 1 year
\u20ac m
1\u20133
years
\u20ac m
3\u20135
years
\u20ac m
> 5
years
\u20ac m
Total
\u20ac m
Deposits and advances from banks
830
\u2014
6
\u2014
836
\u2014
\u2014
\u2014
836
Securities financing
184
12
\u2014
\u2014
196
\u2014
\u2014
\u2014
196
Debt securities in issue:
Senior debt
\u2014
\u2014
\u2014
495
495
2,183
3,461
1,734
7,873
ACS
2
\u2014
\u2014
\u2014
2
\u2014
5
20
27
Credit linked notes
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
95
95
Commercial paper
539
230
68
\u2014
837
\u2014
\u2014
\u2014
837
Tier 2 subordinated liabilities and
other\u00a0capital\u00a0instruments
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
1,627
1,627
Total 31 December
1,555
242
74
495
2,366
2,183
3,466
3,476
11,491
Of which:
Secured
186
12
6
\u2014
204
\u2014
5
115
324
Unsecured
1,369
230
68
495
2,162
2,183
3,461
3,361
11,167
1,555
242
74
495
2,366
2,183
3,466
3,476
11,491
1. The maturity analysis has been prepared using the residual contractual maturity of the liabilities.
Deposits and advances from banks decreased by \u20ac680 million to\u00a0\u20ac156
million, primarily driven by a reduction in cash collateral received from
derivative and repurchase agreement counterparties. For further details,
see note 27 to the consolidated financial statements. Securities Financing
increased by \u20ac486 million to \u20ac682 million, reflective of a increase in
standard bilateral bank repo activity (see the currency split in the
'Currency composition of wholesale funding' table).
During 2025, senior debt decreased \u20ac706 million to \u20ac7,167 million,
primarily reflecting \u20ac770 million in early redemptions and \u20ac1,149 million in
contractual maturities, offset by\u00a0 \u20ac1,475 million in MREL bond issuance.
Over the twelve months to 31 December 2025, there was a net \u20ac39 million
increase in commercial paper to \u20ac876 million, whilst outstanding
externally held asset-covered securities (ACS) remained broadly flat at
\u20ac26 million. For further details, see\u00a0note 29 to the consolidated financial
statements. Subordinated liabilities increased \u20ac999 million to \u20ac2,626
million, driven by a \u20ac1 billion green Tier 2 capital issuance.
Financial assets and financial liabilities by contractual residual maturity (audited)
The following table analyses financial assets and financial liabilities by contractual residual maturity at 31 December 2025 and 2024:
(Audited)
2025
On demand
<3 months
but not on
demand
3 months to
1 year
1\u20135 years
Over 5 years
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Financial assets
Cash and balances at central banks
40,571
\u2014
\u2014
\u2014
\u2014
40,571
Trading portfolio financial assets
\u2014
10
34
78
164
286
Derivative financial instruments1
\u2014
42
116
626
857
1,641
Loans and advances to banks2
554
47
\u2014
\u2014
\u2014
601
Loans and advances to customers2
1,814
1,316
3,065
21,545
44,603
72,343
Securities financing
246
2,246
2,328
2,519
\u2014
7,339
Investment securities3
\u2014
562
1,177
7,917
11,588
21,244
Other financial assets
\u2014
1,012
\u2014
\u2014
26
1,038
43,185
5,235
6,720
32,685
57,238
145,063
Financial liabilities4
Deposits and advances from banks
22
134
\u2014
\u2014
\u2014
156
Deposits and advances from customers
98,913
10,033
6,361
2,360
4
117,671
Securities financing
45
637
\u2014
\u2014
\u2014
682
Trading portfolio financial liabilities
\u2014
3
\u2014
322
200
525
Derivative financial instruments1
\u2014
26
52
572
758
1,408
Debt securities in issue
\u2014
784
92
4,194
3,113
8,183
Tier 2 subordinated liabilities and other capital instruments
\u2014
\u2014
\u2014
\u2014
2,626
2,626
Other financial liabilities
1,632
\u2014
\u2014
29
\u2014
1,661
100,612
11,617
6,505
7,477
6,701
132,912
(Audited)
2024
On demand
<3 months
but not on
demand
3 months
to 1 year
1\u20135 years
Over 5 years
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Financial assets
Cash and balances at central banks
37,315
\u2014
\u2014
\u2014
\u2014
37,315
Trading portfolio financial assets
\u2014
26
\u2014
13
97
136
Derivative financial instruments1
\u2014
16
52
700
1,376
2,144
Loans and advances to banks2
642
679
\u2014
\u2014
\u2014
1,321
Loans and advances to customers2
2,319
1,331
2,950
20,778
43,855
71,233
Securities financing
5
1,610
2,970
2,058
\u2014
6,643
Investment securities3
\u2014
276
603
8,002
9,490
18,371
Other financial assets
\u2014
894
\u2014
\u2014
\u2014
894
40,281
4,832
6,575
31,551
54,818
138,057
Financial liabilities4
Deposits and advances from banks
26
804
6
\u2014
\u2014
836
Deposits and advances from customers
93,977
7,790
4,856
3,230
30
109,883
Securities financing
\u2014
196
\u2014
\u2014
\u2014
196
Trading portfolio financial liabilities
\u2014
5
\u2014
190
67
262
Derivative financial instruments1
\u2014
72
78
538
1,119
1,807
Debt securities in issue
\u2014
769
562
5,649
1,852
8,832
Tier 2 subordinated liabilities and other capital instruments
\u2014
\u2014
\u2014
\u2014
1,627
1,627
Other financial liabilities
1,748
\u2014
\u2014
44
\u2014
1,792
95,751
9,636
5,502
9,651
4,695
125,235
1. Shown by maturity date of contract.
2. Shown gross of expected credit losses.
3. Excluding equity shares.
4. A maturity of lease liabilities is disclosed in note 30.
Financial liabilities by undiscounted contractual maturity (audited)
The balances in the table below include the undiscounted cash flows relating to principal and interest on financial liabilities and as such will not agree
directly with the balances on the consolidated financial statements. All derivative financial instruments have been analysed based on their contractual
maturity undiscounted cash flows.
In the daily management of liquidity risk, the Group adjusts the contractual outflows on customer deposits to reflect the inherent stability of these
deposits. Offsetting the liability outflows are cash inflows from the assets on the consolidated financial statements. Additionally, the Group holds a
stock of high-quality liquid assets, which\u00a0are held for the purpose of covering unexpected cash outflows.
The following table analyses, on an undiscounted basis, financial liabilities by remaining contractual maturity at 31 December 2025 and\u00a02024:
(Audited)
2025
On
demand
<3 months
but not on
demand
3 months
to 1 year
1\u20135 years
Over 5
years
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Financial liabilities1
Deposits and advances from banks
22
134
\u2014
\u2014
\u2014
156
Deposits and advances from customers
98,914
10,078
6,481
2,391
5
117,869
Securities financing
45
640
\u2014
\u2014
\u2014
685
Trading portfolio financial liabilities
\u2014
3
\u2014
322
200
525
Derivative financial instruments
\u2014
163
332
1,375
572
2,442
Debt securities in issue
\u2014
834
373
5,303
3,582
10,092
Tier 2 subordinated liabilities and other capital instruments
\u2014
\u2014
96
501
3,045
3,642
Other financial liabilities
1,632
\u2014
\u2014
29
\u2014
1,661
100,613
11,852
7,282
9,921
7,404
137,072
(Audited)
2024
On demand
<3 months
but not on
demand
3 months to
1 year
1\u20135 years
Over 5
years
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Financial liabilities1
Deposits and advances from banks
26
804
6
\u2014
\u2014
836
Deposits and advances from customers
93,978
7,836
5,006
3,275
31
110,126
Securities financing
\u2014
196
\u2014
\u2014
\u2014
196
Trading portfolio financial liabilities
\u2014
5
\u2014
190
67
262
Derivative financial instruments
\u2014
137
263
472
116
988
Debt securities in issue
\u2014
813
880
6,761
2,232
10,686
Tier 2 subordinated liabilities and other capital instruments
\u2014
\u2014
59
320
1,859
2,238
Other financial liabilities
1,664
\u2014
\u2014
64
\u2014
1,728
95,668
9,791
6,214
11,082
4,305
127,060
1. A maturity of lease liabilities is disclosed in note 30.
2.3 Liquidity and funding risk continued
The undiscounted cash flows potentially payable under guarantees and similar contracts (audited)
The undiscounted cash flows that are potentially payable under guarantees and\u00a0similar contracts, included below within contingent liabilities, are
classified on the basis of the earliest date the facilities can be called. The Group is only called upon to satisfy a guarantee when the guaranteed party
fails to meet their obligations. The Group expects that most guarantees it provides will expire unused. The Group has given commitments to provide
funds to customers under undrawn facilities. The undiscounted cash flows have been classified on the basis of the earliest date that the facility can
be\u00a0drawn. The Group does not expect all facilities to be drawn, and some may lapse before drawdown. For further details, see note 38 to the
consolidated financial statements.\u00a0The following table analyses undiscounted cash flows potentially payable under guarantees and similar contracts\u00a0at
31 December 2025 and 2024:
(Audited)
2025
On demand
<3 months
but not on
demand
3 months to
1 year
1\u20135 years
Over 5 years
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Contingent liabilities
1,206
\u2014
\u2014
\u2014
\u2014
1,206
Commitments
17,033
\u2014
\u2014
\u2014
\u2014
17,033
18,239
\u2014
\u2014
\u2014
\u2014
18,239
(Audited)
2024
On demand
<3 months
but not on
demand
3 months to
1 year
1\u20135 years
Over 5 years
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Contingent liabilities
976
\u2014
\u2014
\u2014
\u2014
976
Commitments
16,823
\u2014
\u2014
\u2014
\u2014
16,823
17,799
\u2014
\u2014
\u2014
\u2014
17,799
2.4 Capital adequacy risk (audited )
Capital adequacy risk is the risk that the Group breaches or may breach
regulatory capital ratios and internal targets, measured on a\u00a0forward
looking basis across a range of scenarios, including a\u00a0severe but
plausible\u00a0stress.
Identification and assessment (audited )
An annual MRA is conducted to identify all relevant (current and
anticipated) material risks which are then assessed from a capital
perspective. The sub risks are identified as part of the MRA process
including risks surrounding the quality and composition of capital as well
as measurement and forecasting risk. Capital adequacy risk is primarily
evaluated through the annual financial planning and the Group\u2019s ICAAP
processes where the level of capital required to support growth plans and
meet regulatory requirements is assessed over the three-year planning
horizon. Plans are assessed across a range of scenarios ranging from
base case and moderate downside scenarios to\u00a0a severe but plausible
stress using the Group\u2019s stress testing methodologies.
Monitoring, escalating and reporting (audited)
The Group monitors its capital adequacy on a monthly basis through
a\u00a0capital reporting pack which is presented to senior executives and Board
setting out the evolution of the Group\u2019s capital position. The risk profile,
including performance against risk appetite, is presented to the BRC via
the CRO report which is produced independently by the 2LOD. The
escalation process, as stipulated under the RAS process, is commenced
in the event of a breach of either the RAS watch trigger or limit for any of
the metrics. This ensures Board and Regulator notification, where
appropriate, within approved timeframes.
The output of internal stress tests is reviewed by ALCo and, on an annual
basis, an ICAAP report is produced which is a comprehensive analysis of
the Group\u2019s capital position in base and stress scenarios over a three year
horizon. The ICAAP document is reviewed and approved by the Board and
is submitted to the Joint Supervisory Team, where it forms the basis of
their supervisory review and evaluation\u00a0process.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-2": { "value": "
Group Credit Risk Framework (audited)
The Group implements and operates policies to govern the identification,
assessment, approval, monitoring and reporting of credit risk. The Group
Credit Risk Framework is the overarching Board approved document
which sets\u00a0out the principles of how the Group identifies, assesses,
approves, monitors and reports credit risk to ensure that robust credit risk
management is in place. This document contains the minimum standards
and principles that are applied across the Group to provide a common,
robust and consistent approach to the management of credit risk. The
Group Credit Risk Framework is supported by a suite of credit policies,
standards and guidelines which define in greater detail the minimum
standards and credit risk metrics to be applied for specific products,
business lines and market segments.
Credit approval overview (audited)
The Group operates credit approval criteria which:
\u2022 Include a clear indication of the Group\u2019s target market(s), in\u00a0line\u00a0with
Group and segment risk appetite statements;
\u2022 Require a thorough understanding and assessment of the borrower or
counterparty, as well as the purpose and structure of credit, and the
source of repayment; and
\u2022 Enforce compliance with minimum credit assessment and facility
structuring standards.
Credit risk approval is undertaken by professionals operating within a defined
delegated authority framework. However, for certain selected retail portfolios,
scorecards and automated strategies (together referred to as \u2018score enabled
decisions\u2019) are deployed to automate and to support credit decisions and
credit management (e.g. score enabled auto-renewal of overdrafts).
The Board is the ultimate credit approval authority in the Group. The Board
has delegated credit authority to various credit committees and to the
Chief Credit Officer (CCO). The CCO is permitted to further delegate this
credit authority to individuals within the Group on a risk appropriate basis.
Credit limits are approved in accordance with the Group\u2019s risk policies
and\u00a0guidelines.
All exposures above certain levels require approval by the Group Credit
Committee (GCC) and/or Board. Other exposures are approved according
to a structure of tiered individual authorities which reflect credit
competence, proven judgement and experience. Depending on the
borrower/connection, grade and the level of exposure, limits are
sanctioned by the relevant credit authority. Material lending proposals are
referred to credit units for independent assessment/approval or
formulation of a recommendation and subsequent adjudication by the
applicable approval authority.
The Group also has in place an Interbank Exposure Policy which
establishes the maximum exposure for each counterparty bank,
depending on credit grade rating. Each bank is assessed for the
appropriate maximum exposure limit in line with the policy. Risk
generating business units in each segment are required to have an
approved bank and country limit prior to granting any credit facility, or
approving any credit obligation or commitment which has the potential to
create interbank or country exposure.
Credit risk organisation and structure (audited)
The Group\u2019s credit risk management structure operates through a\u00a0hierarchy
of lending authorities. All customer loan requests are subject to a credit
assessment process. The role of the Credit Risk function is to provide
direction, independent oversight of and challenge to credit risk-taking.
Internal credit ratings (audited)
One of the objectives of credit risk management is to accurately quantify the
level of credit risk to which the Group is exposed through the initial credit
approval and ongoing review process. All\u00a0relevant exposures are assigned
to a rating model and within that to an internal risk grade (rating). A grade is
assigned on the basis of rating criteria within each rating model from which
estimates of probability of default (PD) are derived.
Internal credit grades are fundamental in assessing the credit quality of loan
exposures, and for assessing capital requirements for portfolios where prior
regulatory approval has been received. Internal credit grades are key to
management reporting, credit portfolio analysis, credit quality monitoring
and in determining the level and nature of management attention applied to
exposures. Changes in the objective information are reflected in the credit
grade of the borrower/loan with the resultant grade influencing the
management of individual loans. In line with the Group\u2019s credit management
lifecycle, heightened credit management and special attention is paid to
lower quality performing loans or \u2018criticised\u2019 loans and non-performing/
defaulted loans, which are defined below.
Using internal models, the Group utilises a credit grading masterscale that
gives it the ability to categorise credit risk across different rating models and
portfolios in a\u00a0consistent manner. The masterscale consolidates complex
credit information into a single attribute, aligning the output from the risk
models with the Group\u2019s Forbearance and Definition of Default and Credit
Impairment policies. The masterscale grades are driven by grading model
appropriate through-the-cycle PDs combined with other asset quality
indicators such as default, forbearance and arrears in order to provide the
Group with a mechanism for ranking and comparing credit risk associated
with a range of customers.
The masterscale categorises loans into a broad range of grades which can
be summarised into the following categories: strong/satisfactory grades;
criticised grades; and non-performing/default loans. The profile of the
Group\u2019s loan portfolio under each of the above grade categories is set out
on page 202.
The IFRS 9 PD modelling approach uses a combination of rating grades
and scores obtained from these credit risk models along with key factors
such as the current/recent arrears status or the current/recent
forbearance status and macroeconomic factors to obtain the relevant
IFRS 9 12 month and Lifetime PDs (i.e. point-in-time). The Group has set
out its methodologies and judgements exercised in determining its
expected credit loss under IFRS 9 on pages 185 to 196.
Strong/satisfactory (audited)
Accounts are considered strong/satisfactory if they have no current or
recent credit distress and the probability of default is typically less than
6.95%, they are not in arrears and there are no indications that they are
unlikely to repay:
\u2022 Strong (typically with a PD less than 0.99%): Strong credit with no
weakness evident.
\u2022 Satisfactory (typically with a PD greater than or equal to 0.99% and less
than 6.95%): Satisfactory credit with no weakness evident.
Criticised (audited)
Accounts of lower credit quality and considered as less than satisfactory
are referred to as criticised and include the following:
\u2022 Criticised watch: The credit is exhibiting weakness in terms of credit
quality and may need additional management attention; the credit may
or may not be in arrears.
\u2022 Criticised recovery: Includes forborne cases that are classified
as\u00a0performing including those which have transitioned from
non\u2011performing forborne, but still require additional management
attention to monitor for re-default and continuing improvement in terms
of credit quality.
Non-performing/default (audited)
The Group\u2019s definition of default is aligned with the EBA\u2019s \u2018Guidelines on
the application of the definition of default\u2019 under Article 178 of the Capital
Requirements Regulation and the ECB Banking Supervision \u2018Guidance to
banks on non-performing loans\u2019.
The Group has aligned the definitions of \u2018non-performing\u2019, \u2018classification
of default\u2019 and IFRS 9 Stage 3 \u2018credit impaired\u2019, with the exception of loans
measured at fair value through profit or loss, and those loans which have
been derecognised and newly originated in Stage 1 or POCI (purchased or
originated credit impaired) which are no longer classified as credit
impaired but continue to be classified as non-performing and in default.
This alignment ensures consistency with the Group\u2019s internal credit risk
management and assessment practices.
Loans are identified as non-performing or defaulted by a number of
characteristics. The key criteria resulting in a classification of non-
performing are:
\u2022 Where the Group considers a borrower to be unlikely to pay their loans
in full without realisation of collateral, regardless of the existence of any
past-due amount; or
\u2022 The borrower is 90 days or more past due on any material loan. Day
count starts when any material amount of principal, interest or fee has
not been paid by a borrower on the due date.
The criteria for the definition of financial distress and forbearance are
included in the Group\u2019s Forbearance Policy. Criteria for the identification
of non-performing exposures and unlikeliness to pay are included in the
Group\u2019s Definition of Default and Credit Impairment Policy.
2.1 Credit risk continued
Credit risk monitoring (audited)
The Group has developed and implemented processes and information
systems to monitor and report on individual credits and credit portfolios in
order to manage credit risk effectively. There was significant investment by
the Group during 2025 as part of the annual review of the Group Credit
Management Policy. This review incorporated material changes to reflect
the introduction of the revised Credit Management Lifecycle. It\u00a0is\u00a0the
Group\u2019s practice to ensure that adequate up-to-date credit\u00a0management
information is available to support the credit management of individual
account relationships and the overall loan portfolio. Credit risk, at a
portfolio level, is monitored using key risk indicators and early warning
indicators which are reported regularly to senior management and to the
Board Risk Committee. Credit managers proactively manage the Group\u2019s
credit risk exposures at a transaction and relationship level. Monitoring
includes credit exposure and excess management, regular review of
accounts, being up-to-date with any developments in customer business,
obtaining updated financial information and monitoring of covenant
compliance. This is reported on a regular basis to senior management and
includes information and detailed commentary on loan book growth,
quality of the loan book and expected credit losses including individual
large non-performing exposures.
Changes in sectoral and single name concentrations are tracked on
a\u00a0regular basis highlighting changes to risk concentration in the Group\u2019s
loan book. The Group allocates significant resources to ensure ongoing
monitoring and compliance with approved risk limits. Credit risk, including
compliance with key credit risk limits, is monitored monthly and is
periodically reported to senior management and to the Board Risk
Committee. Once an account has been placed on a watch list, the
exposure is carefully monitored and where appropriate, exposure
reductions are\u00a0effected.
As a matter of policy, non-retail facilities are subject to a review on, at
least, an annual basis, even when they are performing satisfactorily.
Annual review processes are supplemented by more frequent portfolio
and case review processes in addition to arrears or excess management
processes. Borrowers may be subject to an \u2018unlikely to pay\u2019 test at the
time of annual review, or earlier, if there is a material adverse change or
event in their credit risk profile.
Through a range of forbearance solutions, as outlined on page 221, the
Group employs a dedicated approach to loan workout, monitoring and
proactive management of non-performing loans. A specialised recovery
function focuses on managing the majority of criticised loans and deals
with customers in default, collection or insolvency. Their mandate is to
support customers in\u00a0difficulty while maximising the return on non-
performing loans. Whilst the basic principles for managing weaknesses
in corporate, commercial and retail exposures are broadly similar, the
solutions reflect the differing nature of the assets. Further details on
forbearance are set out in section 2.1.6 - Forbearance overview.
Credit risk mitigants (audited)
The perceived strength of a borrower\u2019s repayment capacity is the\u00a0primary
factor in granting a loan. However, the Group uses various approaches to
help mitigate risks relating to individual credits, including transaction
structure, collateral and guarantees. The main types of collateral for loans
and advances to customers are described under the following section on
collateral. Credit policy and credit management standards are controlled
and set centrally by the Credit Risk function.
Occasionally, credit derivatives are purchased to hedge credit risk.
Current levels are modest and their use is subject to the normal credit
approval process.
The Group enters into netting agreements for derivatives with certain
counterparties, to ensure that in the event of default, all amounts
outstanding with those counterparties will be settled on a\u00a0net basis.
Depending on the size of the potential exposure derivative transactions
with wholesale counterparties are typically collateralised under a
Credit\u00a0Support Annex in conjunction with the International Swaps and
Derivatives Association (ISDA) Master Agreement.
Collateral (audited)
Collateral and/or guarantees are generally taken as a secondary source of
repayment in the event of borrower default, in accordance with Group
lending policies.
The principal collateral types for loans and advances are:
\u2022 Charges over business assets such as premises, inventory and receivables;
\u2022 Charges over other plant and machinery and marine vessels;
\u2022 Mortgage or legal charge over residential and commercial property; and
\u2022 Charges over financial instruments such as debt securities and\u00a0equities.
Collateral requirements vary by facility type, term and exposure amount. Debt
securities and treasury products are typically unsecured, except for asset
backed securities, which are secured by a portfolio of financial assets.
Collateral is not usually held against loans/advances to banks or central
banks, except where securities are held within reverse repurchase or
securities borrowing transactions, where collateral agreement is governed
by master netting agreements or where the bank purchases covered bonds.
Where collateral is taken for non-mortgage/non-property lending, it will
typically include a charge over the business assets such as inventory and
accounts receivable. A charge over property collateral or a personal
guarantee supported by a lien over personal assets may also be taken.
Valuations or business appraisals from independent external professionals
are utilised in many cases where cash flows arising from the realisation of
collateral are included in the expected credit loss assessments.
Methodologies for valuing collateral (audited)
Details on the valuation rule methodologies applied and processes used
to assess the value of property assets taken as collateral are described in
the Group Property Valuation Policy and are subject to an annual review.
As property loans, including residential mortgages, represent a\u00a0significant
concentration within the Group\u2019s loans and advances to customers
portfolio, some key principles have been applied in respect of the
valuation of property collateral held by the Group.
The value of property collateral is assessed at loan origination and\u00a0at
certain stages throughout the credit lifecycle in accordance with the
Group Property Valuation Policy, e.g. at annual review, where required.
In accordance with the Group Property Valuation Policy, the valuation
approaches follow Global International Valuation Standards for secured
lending purposes. All valuations undertaken by the Group\u2019s panel of
valuers must adhere to the valuation approaches outlined in these
standards. The Group employs a number of methods to assist in reaching
appropriate valuations for property collateral held:
(a) External valuation firms on the Group\u2019s Valuers Panel, are engaged by
the Group to undertake valuations of immovable property collateral in
accordance with the rules set out in the Group Property Valuation Policy.
(b) Independent professional internal valuations are completed in limited
circumstances (e.g. agricultural land) using a desktop valuation
approach by professionally qualified internal valuers who are
independent of the credit process in the 2LOD. The assets being
valued by this means must have an independent professional external
valuation completed within the past three years.
2.1 Credit risk continued
Credit risk mitigants continued (audited)
Collateral and ECLs (audited)
Applying one or a combination of the above methodologies, in line\u00a0with the
Group Property Valuation Policy, has resulted in an appropriate range of
adjustments to original collateral valuations, influenced by the nature,
status and year of purchase of the asset. The frequency and availability
of such up-to-date valuations remain a key factor in ECL determination.
Additionally, relevant costs likely to be associated with the realisation of
the collateral are taken into account in the cash flow forecasts. The
spread of discounts is influenced by the type of collateral, e.g. land,
developed land or investment property and also its location. The\u00a0valuation
arrived at, is therefore, a function of the nature of\u00a0the asset.
When assessing the level of ECL allowance required for property loans,
apart from the value to be realised from the collateral, other cash flows,
such as recourse to other assets or sponsor support, are also considered,
where available. The other key driver is the time it takes to receive the
funds from the realisation of collateral. While this depends on the type of
collateral and the stage of its development, the period of time to realisation
is typically one to five years but sometimes this time period is exceeded.
These estimates are periodically reassessed on a case by case basis.
When undertaking an ECL review for individually assessed cases that have
been deemed unlikely to pay, the present value of future cash flows,
including the value of collateral held, and the likely time required to realise
such collateral is estimated. An ECL allowance is raised for the difference
between this present value and the carrying value of the loan. When
multiple discounted cash flows are captured where the gross credit
exposure is \u2265 \u20ac5 million (Republic of Ireland) or \u2265 \u00a35 million (UK) or cases
in scope for the Group Leveraged Lending Policy, the value of collateral is
adjusted to reflect the impacts of up and downside scenarios for these
higher value exposures.
Securities financing (audited)
In addition to the credit risk mitigants, the Group, from time to time, enters
securities financing transactions. Securities financing consists of securities
borrowing transactions, reverse repurchase agreements and securities sold
under agreements to repurchase. At 31\u00a0December 2025, the total fair value of
the collateral received was \u20ac7,339 million (2024: \u20ac6,643 million) in relation to
reverse repurchase agreements and securities borrowing transactions (note
18 to the consolidated financial statements).
Derivatives (audited)
Derivative financial instruments are recognised in the statement of
financial position at their fair value. Those with a positive fair value
are\u00a0reported as assets which at 31 December 2025 amounted to \u20ac1,641
million (2024: \u20ac2,144 million) and those with a negative fair value are
reported as liabilities which at 31 December 2025 amounted to \u20ac1,408
million (2024: \u20ac1,807 million).
The enforcement of netting agreements would potentially reduce the
statement of financial position carrying amount of derivative assets and
liabilities by \u20ac1,173 million at 31 December 2025 (2024: \u20ac1,385 million).
The Group also has Credit Support Annexes (CSAs) in place which provide
collateral for derivative contracts. At 31 December 2025,\u00a0 \u20ac111 million
(2024: \u20ac698 million) of CSAs are included within financial assets as
collateral for derivative liabilities and \u20ac497 million (2024: \u20ac814 million) of
CSAs are included within financial liabilities as collateral for derivative
assets (note 37 to the consolidated financial statements). Additionally, the
Group has agreements in place which may allow it to net the termination
values of cross currency swaps upon occurrence of an event of default.
Risk transfer (audited)
The Group also uses other credit risk mitigation and protection techniques
such as credit risk transfers to optimise exposure to credit risk and reduce
potential credit losses associated with credit events, such as defaults or
downgrades in credit quality. At a portfolio level, credit risk is assessed in
relation to the degree of single name, sectoral asset class and geographic
concentrations. To manage credit risk exposure in the event of emerging
risk concentrations, the risk capital implications are assessed and, where
appropriate, risk transfer options (e.g. loan disposals, securitisations,
etc.) are considered.
In December 2025, the Group executed a significant risk transfer on a
\u20ac1.97 billion portfolio of residential mortgage loans assets. This
transaction reduced the Group\u2019s credit risk exposure, and consequently
the risk weighted assets on the reference portfolio of loan assets, through
a combination of a risk sharing whereby the subscribers of credit linked
notes assume the credit risk for \u20ac49.8 million of potential credit losses on
the reference portfolio of loan assets and a series of insurance policies
with highly rated (re)insurance companies that provide protection for the
credit risk of an additional \u20ac270.8 million of potential credit losses on the
same portfolio.
In 2024, the Group executed a significant risk transfer involving a \u20ac1 billion
portfolio (2025: \u20ac663.8 million) of corporate loan assets. That transaction
reduced the Group\u2019s credit risk exposure and risk-weighted assets
associated with the reference portfolio through a structured risk-sharing
arrangement. Under that arrangement, credit linked note subscribers
accepted credit risk for up to \u20ac97.5 million (2025: \u20ac64.7 million) in
potential losses on the reference portfolio.
Measurement, methodologies and judgements
Introduction (audited)
The Group has set out the methodologies used and judgements exercised
in determining its expected credit loss allowance for the year to 31
December 2025.
The Group, in estimating its ECL allowance, does so in line with the
expected credit loss impairment model as set out by the International
Financial Reporting Standard (IFRS) 9 Financial Instruments (\u2018the
standard\u2019). This model requires a timely recognition of ECL across the
Group. The\u00a0standard does not prescribe specific approaches to be used in
estimating ECL allowance, but stresses that the approach must reflect the
following:
\u2022 An unbiased and probability weighted amount that is determined by
evaluating a range of possible outcomes;
\u2022 Underlying models should be point-in-time and forward looking \u2013
recognising economic conditions;
\u2022 The ECL must reflect the time value of money;
\u2022 A lifetime ECL is calculated for financial assets in Stages 2 and 3 and
Purchased or Originated Credit Impaired (POCI); and
\u2022 The ECL calculation must incorporate reasonable and supportable
information that is available without undue cost or effort at the
reporting date about past events, current conditions and forecasts of
future economic conditions.
The standard defines credit loss as the difference between all contractual
cash flows that are due to an entity in accordance with the contract
and all the cash flows that the entity expects to receive (i.e. all cash
shortfalls), discounted at the original effective interest rate (EIR) or an
approximation thereof.
ECLs are defined in the standard as the weighted average of credit losses
across multiple macroeconomic scenarios, with weights assigned based
on the probability of each scenario occurring, and are an estimate of
credit losses over the life of a\u00a0financial instrument.
The ECL model applies to financial instruments measured at amortised
cost or at fair value through other comprehensive income. In addition,
the ECL approach applies to lease receivables, loan commitments and
financial guarantee contracts that are not measured at fair value through
profit or loss.
2.1 Credit risk continued
Measurement, methodologies and judgements continued
Introduction continued (audited)
A key principle of the ECL model is to reflect any relative deterioration
or improvement in the credit quality of financial instruments occurring
(e.g. change in the risk of default). The\u00a0ECL amount recognised as a loss
allowance or provision depends on the extent of credit deterioration since
initial recognition together with the impact on credit risk parameters.
Bases of measurement (audited)
Under the standard, there are two measurement bases:
1. 12-month ECL (Stage 1), which applies to all financial instruments from
initial recognition as long as there has been no significant increase in
credit risk; and
2. Lifetime ECL (Stages 2 and 3 and POCI), which applies when a
significant increase in credit risk has been identified on an account
(Stage 2), an account has been identified as being credit-impaired
(Stage 3) or when an account meets the POCI\u00a0criteria.
Staging (audited)
Financial assets are allocated to stages dependent on credit quality
relative to when assets were originated. A financial asset, including
financial assets acquired by the Group, can only originate in either Stage 1
or POCI.
Credit risk at origination (audited)
Credit risk at origination (CRAO) is a key input into the staging allocation
process. The origination date of an account is determined by the date on
which the Group became irrevocably committed to the contractual
obligation and the account was first graded on an appropriate model.
For undrawn credit facilities, the Group uses the date of origination as the
date when it becomes party to the irrevocable contractual arrangements
or irrevocable commitment. For overdrafts which have both drawn and
undrawn components, the date of origination is the same for both. The
Group uses best available information for facilities which originated prior
to a credit risk rating model or scorecard being in\u00a0place.
For accounts that originated prior to 1 January 2018, a neutral view of the
macroeconomic outlook at the time is used, i.e. where macroeconomic
variables are used in the Lifetime PD models, long-run averages are used
instead of historical forecasts.
Stage 1 characteristics (audited)
Obligations are classified Stage 1 at origination or at acquisition by the
Group, unless POCI, with a 12 month ECL being recognised. These
obligations remain in Stage 1 unless there has been a significant increase
in credit risk.
Accounts can also return to Stage 1 if they no longer meet either the Stage
2 or Stage 3 criteria, subject to satisfaction of the appropriate probation
periods, in line with regulatory requirements.
Stage 2 characteristics (audited)
Obligations where there has been a \u2018significant increase in credit
risk\u2019 (SICR) since initial recognition but do not have objective evidence of
credit impairment are classified as Stage 2. For these assets, lifetime
ECLs are recognised.
The Group assesses at each reporting date whether a significant increase
in credit risk has occurred on its financial obligations since their initial
recognition. This assessment is performed on individual obligations,
however where appropriate, a collective assessment at a portfolio level can
be undertaken. If the increase is considered significant, the obligation will
be allocated to Stage 2 and a lifetime ECL will apply to the obligation. If the
change is not considered significant, a 12 month ECL will continue to apply
and the obligation will remain in Stage 1.
SICR assessment (audited)
The Group\u2019s SICR assessment is determined based on both quantitative
and qualitative measures:
Quantitative measure: This measure reflects an arithmetic assessment of
the change in credit risk arising from changes in the probability of default.
The Group compares each obligation\u2019s annualised average probability
weighted residual origination lifetime probability of default (LTPD) (see
Credit risk at origination) to its current estimated annualised average
probability weighted residual LTPD at the reporting date. If the difference
between these two LTPDs meets the quantitative definition of SICR, the
Group transfers the financial obligation into\u00a0Stage 2. Increases in LTPD
may be due to credit deterioration of the individual obligation or due to
macroeconomic factors or a\u00a0combination of both. The Group has
determined that an account had met the quantitative measure if the
average residual LTPD at\u00a0the reporting date was at least double the
average residual LTPD at origination, and the difference between the
LTPDs was at least 50bps or 85bps in the case of residential mortgages.
For lower default models, such as Treasury Debt Securities or Project
Finance, individual calibrated thresholds are applied. The
appropriateness of these thresholds are kept under review by the\u00a0Group.\u00a0
Qualitative measure: This measure reflects the assessment of the change
in credit risk based on the Group\u2019s credit management and the individual
characteristics of the financial asset. This is not model driven and seeks to
capture any change in credit quality that may not be already captured by
the quantitative criteria.
The qualitative assessment reflects proactive credit management including
monitoring of account activity on an individual or portfolio level, knowledge
of client behaviour and cognisance of industry and economic trends.
The criteria for this qualitative trigger include, for example:
\u2022 A downgrade to watch grade of the borrower\u2019s/facility\u2019s credit grade
reflecting the increased credit management focus on these accounts;
and/or
\u2022 Forbearance has been provided and the account is within the
probationary period and the forbearance treatment does not result in
Stage 3 classification.
\u2022 Lender assessed SICR triggers: For non-retail portfolios, a suite of
lender assessed triggers are in place to ensure appropriate and timely
identification of increased credit risk, which when occur, trigger a
SICR\u00a0event.
The criteria for this lender assessed trigger include, for example:
\u2022 A post distressed restructure payment default occurs where the
borrower is neither in default nor forborne;
\u2022 A material adverse event has occurred for the borrower which may
impact the borrower\u2019s ability to repay such as: adverse publicity which
raises concerns over the viability of a business; loss of key personnel
(CEO/CFO/COO) which raises concerns over the strategy/viability of
the business or significant negative macroeconomic events (including
but not limited to economic or market volatility, changes in legislation
and technological threats to an industry, changes in access to markets)
where the financial impact to the borrower is deemed material.
\u2022 Backstop indicators: The Group has adopted the rebuttable
presumption within IFRS 9 that loans greater than 30 days past due
represent a significant increase in credit risk.
Where SICR criteria are no longer a trigger, the account can exit Stage 2
and return to Stage 1.
2.1 Credit risk continued
Measurement, methodologies and judgements continued
Stage 3 characteristics (audited)
Defaulted loans (with the exception of newly originated or acquired loans
that are in Stage 1 or POCI) are classed as credit impaired and allocated
to Stage 3. Where default criteria are no longer met, the borrower exits
Stage 3 subject to a probation period, in line with regulatory requirements.
The key criteria resulting in a classification of default are:
\u2022 Where the Group considers a borrower to be unlikely to pay their loans
in full without realisation of collateral, regardless of the existence of any
past-due amount; or
\u2022 The borrower is 90 days or more past due on any material loan (day
count starts when any material amount of principal, interest or fee has
not been paid by a borrower at the date it was due).
Identification of non-performing exposures and unlikeliness to pay are
included in the Group\u2019s Definition of Default and Credit Impairment Policy.
Purchased or originated credit impaired (POCI) (audited)
POCIs are assets originated credit impaired and have a discount to the
contractual value when measured at fair value. The Group uses an
appropriate discount rate for measuring ECL in the case of POCIs which is
the credit-adjusted effective interest rate. This rate is used to discount the
expected cash flows of such assets to fair value on initial recognition.
POCI obligations remain outside of the normal stage allocation process
for the lifetime of the obligation. The ECL for POCI obligations is always
measured at an amount equal to lifetime expected credit losses. The
amount recognised as a loss allowance for these assets is the cumulative
change in lifetime expected credit losses since the initial recognition of the
assets rather than the total amount of lifetime expected credit losses.
Measurement of expected credit loss (audited)
The measurement of ECL is estimated through one of the following
approaches:
(i) Standard approach: This approach is used for the majority of
exposures where each ECL input parameter (Probability of Default \u2013
PD, Loss Given Default \u2013 LGD, Exposure at Default \u2013 EAD, and
Prepayments \u2013 PP) is developed in line with standard modelling
methodology. The Group\u2019s IFRS 9 models have been developed and
approved in line with the Group\u2019s Model Risk Management
Framework.
(ii) Simplified approach: For portfolios not on the standard approach, the
Group has followed a simplified approach. This approach consists of
applying portfolio level ECL averages, drawn from similar portfolios,
where it is not possible to estimate individual parameters. These
generally relate to portfolios where specific IFRS 9 models have not been
developed due to immateriality, low volumes or where there are no
underlying grading models. As granular PDs are not available for these
portfolios, a non-standard approach to staging is required with reliance
on the qualitative criteria (along with the 30 days past due backstop).
(iii) Discounted cash flows (DCFs): DCFs are used as an input to the ECL
calculation for Stage 3 credit\u2011impaired exposures where gross credit
exposure is \u2265 \u20ac1 million in the Republic of Ireland or \u2265 \u00a3500,000 in the
UK. For higher\u2011value cases, multiple DCFs are prepared to ensure that
expected losses appropriately reflect forward looking outcomes.\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
This approach is required where gross credit exposure is \u2265 \u20ac5 million
(Republic of Ireland), \u2265 \u00a35 million (UK), or where exposures fall within
the Group Leveraged Lending Policy. This approach captures borrower
specific impacts under base, downside and upside conditions, with
each scenario probability weighted to derive the final scenario weighted
ECL. Collateral valuation assumptions and the estimated time to
realisation of collateral are key drivers of the DCF approach. Forward
looking information is incorporated through the Group\u2019s credit
assessment process and applied consistently across scenarios. Where
the calculated ECL is very low, a minimum ECL floor is applied. This is
benchmarked against relevant model outputs to ensure consistency and
prudence in ECL recognition.
(iv) Management judgement: Where the estimate of ECL does not
adequately capture all available forward looking information about
the range of possible outcomes, or where there is a significant degree
of uncertainty, management judgement may be considered
appropriate for an adjustment to ECL. The management adjustment
must consider all relevant and supportable information, including but
not limited to, historical data analysis, predictive modelling and
management experience. The methodology to incorporate the
adjustment should consider the degree of any relevant over
collateralisation (headroom) and should not result in a zero overall
ECL unless there is sufficient headroom to support this. The key post
model adjustments (PMAs) in the 2025 year-end ECL estimates are
outlined on pages\u00a0195 and 196.
IFRS 9 ECL Credit Risk models (audited)
The IFRS 9 ECL models provide the risk parameters which are the inputs
into the model driven estimate of ECL which is used across all Stage 1 and
Stage 2 assets plus all non-DCF Stage 3 exposures on the standard
approach to ECL.
IFRS 9 Portfolio Delineation (audited)
The IFRS 9 models are delineated into retail and non-retail portfolios. The
retail IFRS 9 portfolios provide exposure level risk parameter estimates
which take into account facility, or borrower level characteristics and
metrics where appropriate, whilst the non-retail portfolios provide metrics
which are either borrower, facility\u00a0 or connection level estimates.
Probability of default (audited)
Probability of default (PD) is the likelihood that an account or borrower
defaults over an observation period, given that they are not currently in
default, for each year of the expected contractual lifetime of the exposure.
The PD is a point-in-time estimate which is reflective of the current and
expected economic conditions.
In order to capture the appropriate risk dynamics across the lifetime of the
exposure the development process considers:
\u2022 Macroeconomic effects captured through factors such as
unemployment rate and GDP;
\u2022 Cross-sectional risk discriminators, in particular the internal rating model
outputs plus other factors such as forbearance and\u00a0days past due; and
\u2022 Seasoning factors such as product type, delinquency and forbearance
status.
2.1 Credit risk continued
Measurement, methodologies and judgements continued
Loss given default (audited)
Loss given default (LGD) is a current assessment of the amount that will
not be recovered in the event of default, taking account of future
conditions. It can be thought of as the difference between the amount
owed to the Group (i.e. the exposure) and the net present value of future
cash flows less any relevant costs expected to be incurred in the recovery
process. If an account returns to performing from default (excluding any
loss making concession) or if the discounted post-default recoveries are
equal to or greater than the exposure, the realised loss is (close to) zero.
The LGD modelling approach generally depends on whether the facility
has underlying security and, if so, the nature of that security. The following
sets out the general approaches for the retail and non-retail portfolios:
\u2013 Retail portfolios
For unsecured loans, a cash flow curve, which estimates the cumulative
cash received following default until the loan is written-off or returns to
performing, is used to estimate the future recovery amount. This is
discounted at the effective interest rate and compared to the current
outstanding balance. Any shortfall between the recovery amount and the
outstanding balance is the LGD used to estimate ECL. Where
appropriate, this may then be adjusted to reflect economic conditions.
For secured loans the following may be considered:
\u2022 The value of underlying property collateral is estimated at the
forecasted time of disposal (taking into account forecasted market
price growth/falls and haircuts on market values that are expected at
the date of sale plus associated relevant costs) in order to calculate
the future recovery amount;
\u2022 The potential for the exposure to be deleveraged through a portfolio
sale taking into account the costs associated with same; and
\u2022 Paths for returning to the performing portfolios such as forbearance
and self-cure.
\u2013 Non-retail portfolios
For unsecured loans, characteristics such as borrower sector, borrower
financials and nature of collateral linked to affiliated accounts under the
same customer group are used to determine future losses based on
historical experience of discounted recoveries.
For secured loans, the value of the underlying property collateral is
estimated at the reporting date. This is used to estimate the ECL based on
historical experience of discounted recoveries.
Exposure at default (audited)
Exposure at default (EAD) is defined as the exposure amount that will\u00a0be
owed by a customer at the time of default. This will comprise changes in
the exposure amount between the reporting date and the date that the
customer defaults. This may be due to repayments, interest and fees
charged and additional drawdowns by the customer.
Prepayments (audited)
For term credit products, prepayment occurs where a customer fully
prepays an account prior to the end of its contractual term. For\u00a0revolving
credit products, \u2018prepayment\u2019 is defined as the cessation of use and
withdrawal of the facility provided that the account was not in default prior
to closure.
Prepayment is used in the lifetime ECL calculation for Stage 2 loans to
account for the proportion of the facilities/customers that prepay each\u00a0year.
Determining the period over which to measure ECL (audited)
Both the origination date and the expected maturity of a facility must be
determined for ECL purposes. The origination date is used to measure
credit risk at origination.
The expected maturity is used for assets in Stage 2, where the ECL must
be estimated over the remaining life of the facility.
The expected maturity approach is:
\u2022 Term credit products: the contractual maturity date, with exposure and
survival probability adjusted to reflect behaviour, i.e. amortisation and
prepayment;
\u2022 Revolving credit products: the period may extend beyond the contractual
period, i.e. behavioural lifetime estimate over which the Group is exposed
to credit risk, e.g. overdrafts and credit cards.
Forward looking indicators in the models (audited)
For ECL calculations reliant on models in the standard and simplified
approaches, forward looking indicators are incorporated into the models
through the use of macroeconomic variables. These have been identified
statistically as the key macroeconomic variables that drive the parameter
being assessed (e.g. PD or LGD). The final model structure incorporates
these as inputs with the 12 month and lifetime calculations utilising the
macroeconomic forecasts for each scenario. See the Macroeconomic
scenarios and weightings section for more detail on the process for
generating scenarios and associated key macroeconomic factors relevant
for\u00a0the models. In circumstances where there is a risk that the modelled
output fails to capture the appropriate response to changes in the
macroeconomic environment such as inflation and interest rate changes,
these risks are captured through the use of post model adjustments.
Effective interest rate (audited)
ECLs are discounted to the reporting date using the effective interest rate
(EIR) set at initial recognition, or a suitable approximation. The Group
applies an account-level interest rate as an approximation for both drawn
and undrawn commitments. This approach is reviewed annually to ensure
it remains appropriate and does not materially misstate ECL. Testing has
confirmed that using current interest rates provides an appropriate
approximation for ECL discounting.
Policy elections and simplifications
Low credit risk exemption (audited)
The Group utilises practical expedients, as allowed by IFRS 9, for the stage
allocation of particular financial instruments which are deemed \u2018low
credit risk\u2019. This practical expedient permits the Group to assume, without
more detailed analysis, that the credit risk on a financial instrument has
not increased significantly since initial recognition if the financial
instrument is determined to have \u2018low credit risk\u2019 at the reporting date.
The Group allocates such assets to Stage 1.
Under IFRS 9, the credit risk on a financial instrument is considered low\u00a0if:
\u2022 The financial instrument has a low risk of default;
\u2022 The borrower has a strong capacity to meet its contractual cash flow
obligations in the near term; and
\u2022 Adverse changes in economic business conditions in the longer term
may, (but will not necessarily) reduce the ability of the borrower to fulfil
its contractual cash flow obligations.
This low credit risk exemption is applied to particular assets within the Treasury
Debt Securities Portfolio, Capital Markets Securitisation Bonds and for Loans
and Receivables to Banks, specifically assets which have an internal grade
equivalent to an external investment grade rating (BBB-) or\u00a0higher.
The Group applies a quantitative backstop trigger of a tripling of the
probability of default subject to a minimum threshold movement of 30bps
to determine whether assets subject to the low credit risk exemption
should be allocated to Stage 2. Additionally, if any of such assets are
on a watch list based on agreed criteria, they are allocated to Stage 2.
Short term cash (audited)
The Group\u2019s IFRS 9 Impairment Policy does not require calculation of an
ECL for short term cash at central banks and other banks which have a
low risk of default with a very low risk profile. The calculation of the ECL
at each reporting date would be immaterial given these exposures\u2019 short
term nature and their daily management.
Lease receivables and trade receivables (audited)
For lease receivables, the Group has elected to use its standard approach
for both stage allocation and the ECL calculation and has elected to use
an expedient (simplified approach) for trade\u00a0receivables.
2.1 Credit risk continued
Measurement, methodologies and judgements continued
Write-offs (audited)
When the prospects of recovering a loan, either partially or fully, do not
improve, a point may come when it will be concluded that as there is no
realistic prospect of recovery, the loan and any related ECL will be written-
off. The Group determines, based on\u00a0specific criteria, the point at which
there is no reasonable expectation of recovery. When the following criteria
exist (or comparable circumstances arise), the loan can be subject to
a\u00a0partial or full write-off:
\u2022 A decision has been taken to enforce on a loan, due to no agreement with
the customer for a restructure/settlement and all customer engagement
with the Group regarding their loan agreement has ceased;
\u2022 Inception of informal insolvency proceedings has commenced or is
about to commence;
\u2022 Receivership or other formal recovery action (e.g. where expectation of
recovery of collateral is expected through enforcement activity but no
additional recoveries above the collateral value are anticipated) has
commenced or is about to commence; and
\u2022 A loan is substantially provided for or no material repayments have
been received for a period of time (minimum 12 months) and all
customer engagement with the Group regarding their loan agreement
has ceased.
Debt forgiveness may subsequently arise where there is a formal contract
with the customer for the write-off of the loan. In addition, certain
forbearance solutions and restructuring agreements may include an
element of debt write-down (debt forgiveness). Further details on
forbearance are set out in section 2.1.6 - Forbearance overview.
The contractual amount outstanding of loans written-off during the year that
are still subject to enforcement activity are outlined on page 211 and relate
to non-contracted write-offs, both full and partial. The Group recognises
cash received from the customer in excess of the carrying value of the
loan after a non-contracted write-off as \u2018recoveries of amounts previously
written-off\u2019 in the income statement.
ECL governance (audited)
The Board has put in place a framework, incorporating the governance
and delegation structures commensurate with a material risk, to ensure
credit risk is appropriately managed throughout the Group.
The key governance points in the ECL allowance approval process during
2025 were:
\u2022 Model Risk Committee;
\u2022 Asset and Liability Committee;
\u2022 Business level ECL Forum;
\u2022 Group Credit Committee; and
\u2022 Board Audit Committee.
For ECL governance, the Group\u2019s senior management employ expert
judgement in assessing the adequacy of the ECL allowance. This is
supported by detailed information on the portfolios of credit risk
exposures and by the outputs of the measurement and classification
approaches, coupled with internal and external data provided on both the
short-term and long-term economic outlook. Business segments and
Group management are required to ensure that there are appropriate
levels of cover for all of the credit portfolios and must take account of
both accounting and regulatory compliance when assessing the expected
levels of loss.
Assessment of the credit quality of each business segment and
subsidiaries is initially informed by the output of the quantitative analytical
models but may be subject to management adjustments.
This ECL output is then scrutinised and approved at an individual business
unit level (ECL Forum), which also includes subsidiaries, prior to onward
submission to the GCC.
GCC reviews and challenges ECL levels for onward recommendation to
the Board Audit Committee as the final approval authority. The Board
Audit Committee then recommends the Group\u2019s financial results to the
Board for ultimate final approval.
Measurement, methodologies and judgements continued
Sensitivities (audited)
The Group\u2019s estimates of expected credit losses are responsive to\u00a0varying
economic conditions and forward looking information. These estimates
are driven by the relationship between historic experienced loss and the
combination of macroeconomic variables. Given the co-relationship of
each of the macroeconomic variables to one another and the fact that loss
estimates do not follow a linear path, a sensitivity to any single economic
variable is not meaningful. As such, the following sensitivities provide an
indication of ECL movements that include changes in model estimates and
quantitative \u2018significant increase in credit risk\u2019 (SICR) staging assignments,
with a single 100% weighting applied individually.
Relative to the 100% Base scenario, the ECL allowance in the 100%
Downside 1 and 2 scenarios increases by 30% (\u20ac312 million) and 85%
(\u20ac896 million), respectively, and declines by 8% (\u20ac87 million) in the 100%
Upside scenario. Relative impacts are similar for the AIB UK portfolio in
most scenarios, with lower relative impact observed in the 100% Downside
2 scenario.
ECL allowance at 31 December 2025
Reported
100% Base
100% Downside
Scenario 1
(Escalating\u00a0
geopolitical
tensions)
100% Downside
Scenario 2
(Global trade war/
Irish FDI shock)
100% Upside
Scenario
(Easing
geopolitical
tensions)
Loans and advances to customers (audited)
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Residential mortgages
176
150
204
427
135
Other personal
131
122
139
168
117
Property and construction
432
395
487
586
357
Non-property business
404
339
480
700
313
Total
1,143
1,006
1,310
1,881
922
Off-balance sheet loan commitments
38
34
41
53
32
Financial guarantee contracts
10
9
10
11
8
1,191
1,049
1,361
1,945
962
Of which:
AIB UK segment
94
83
109
114
78
ECL allowance at 31 December 2024
Reported
100% Base
100% Downside
Scenario 1
(Geopolitical
tensions)
100% Downside
Scenario 2
(Credit crunch)
100% Upside
Scenario
(Quick recovery)
Loans and advances to customers (audited)
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Residential mortgages
270
241
304
464
223
Other personal
137
128
145
167
124
Property and construction
464
410
569
689
384
Non-property business
473
415
535
636
393
Total
1,344
1,194
1,553
1,956
1,124
Off-balance sheet loan commitments
44
36
46
60
34
Financial guarantee contracts
13
12
16
20
12
1,401
1,242
1,615
2,036
1,170
Of which:
AIB UK segment
174
160
192
206
151
2.1 Credit risk continued
Measurement, methodologies and judgements continued
Post model adjustments (PMAs) (audited)
PMAs are applied where management believe that they are necessary
to ensure an adequate level of ECL provision and to address known
model limitations and/or novel risks not captured in the models. They
may also be used where models are being redeveloped but are not yet
deployed, where the impact of introducing the new models can be
accurately quantified.
PMAs are approved through the ECL governance process within which the
appropriateness of PMAs is considered against:
\u2022 The backdrop of the risk profile of the loan book;
\u2022 Recent loss history or changes in underlying resolution strategies not
captured in the models; and
\u2022 Management\u2019s view of novel risks.
At 31 December 2025, the Group has continued to consider all PMAs in
light of the current economic environment and continued geopolitical
tensions. The calculation of PMAs and ECL adjustments requires a high
degree of judgement, particularly in relation to emerging macroeconomic
and sectoral risks. PMAs were reviewed within this context, and a cautious
approach was taken to ensure an appropriate level of protection against
potential vulnerabilities amid ongoing economic uncertainty. Release of
PMAs will occur as new models are deployed or where the risk has been
judged by management to be captured in the modelled outcomes, or to
have passed.
The PMAs approved for 31 December 2025 (and 2024 comparison) are set
out below and are categorised as follows:
\u2022 Non-performing exposure (NPE) resolution (\u20ac79 million) \u2013 ECL
adjustments where the current model does not consider all potential
downside risks or a range of outcomes that should be incorporated into the
final loss estimate for defaulted assets.
\u2022 Sectoral/Emerging risks (\u20ac115 million) \u2013 ECL adjustments which reflect
novel risks within a sector or portfolio for which there has not been time
to embed an adjustment within the related models. This also refers to
ECL adjustments for which time is needed for events to evolve or
impacts to crystallise.
\u2022 Future model developments/Other (\u20ac100 million) \u2013 ECL adjustments
required where the impact of upcoming model changes or recalibrations
is\u00a0known with sufficient accuracy and ECL\u00a0adjustments where it was judged
that an amendment to the\u00a0modelled ECL was required for reasons other
than the above.
2025
Post model adjustments
(audited)
ECL allowance
before PMAs
NPE resolution
Sectoral/
Emerging risks
Future model
developments/
Other
Total PMAs
Total ECL
allowance
Proportion of
PMAs to total
ECL allowance
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
%
Residential mortgages
163
12
\u2014
1
13
176
7
Other personal
113
18
\u2014
\u2014
18
131
14
Property and construction
264
34
63
71
168
432
39
Non-property business
309
15
52
28
95
404
24
Total loans and advances to
customers
849
79
115
100
294
1,143
26
Loan commitments and
financial guarantees issued
48
\u2014
\u2014
\u2014
\u2014
48
\u2014
Total ECL allowance
897
79
115
100
294
1,191
25
2024
Post model adjustments
(audited)
ECL allowance
before PMAs
NPE resolution
Sectoral/
Emerging risks
Future model
developments/
Other
Total PMAs
Total ECL
allowance
Proportion of
PMAs to total ECL
allowance
\u20ac m\u00a0 \u00a0
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
%
Residential mortgages
222
48
\u2014
\u2014
48
270
18
Other personal
125
12
\u2014
\u2014
12
137
9
Property and construction
234
76
60
94
230
464
50
Non-property business
410
6
3
54
63
473
13
Total loans and advances to
customers
991
142
63
148
353
1,344
26
Loan commitments and
financial guarantees issued
57
\u2014
\u2014
\u2014
\u2014
57
\u2014
Total ECL allowance
1,048
142
63
148
353
1,401
25
2.1 Credit risk continued
Measurement, methodologies and judgements continued
Post model adjustments (PMAs) (audited)
NPE resolution (audited)
At 31 December 2025, a total PMA of \u20ac79 million on non-performing
exposures reflects the Group\u2019s continued prudent approach to downside
risks not fully captured by the existing models.
A PMA of \u20ac12 million continues to be held against Stage 3 mortgages at 31
December 2025. This has reduced from \u20ac48 million at 31 December 2024
following the recent NPE portfolio sale. The PMA addresses potential ECL
underestimation relating to portfolio sale assumptions embedded in the
mortgage model and is informed by the outcome of the recent portfolio sale,
with a read across applied to the remaining Stage 3 mortgage portfolio.
Within the unsecured Stage 3 Retail portfolio, a PMA of \u20ac26 million
(\u20ac18 million for other personal, \u20ac7 million for non-property business and
\u20ac1 million for property) was approved at 31 December 2025, informed by
the outcome of the recent portfolio sale and read across to the residual
unsecured Retail Stage 3 portfolio. This adjustment recognises the
potential for further loss emergence in this segment, particularly
considering recent disposal activity.
A PMA of \u20ac40 million (\u20ac32 million for property and \u20ac8 million for non-
property business) continues to account for latent risks and alternative
resolution strategies, such as NPE portfolio loan sales or collateral
valuations, which remain sensitive to prevailing market conditions. This
adjustment reflects the Group\u2019s assessment of potential reductions in
asset values and the impact of market volatility on recovery strategies.
Other PMAs amounting to a further \u20ac1 million in this category are not
individually significant.
Sectoral/Emerging risks (audited)
At 31 December 2025, a total PMA of \u20ac115 million reflects sectoral and
emerging risks, consistent with the Group\u2019s cautious stance in addressing
novel risks within specific sectors or portfolios.
A PMA of \u20ac72 million addresses the latent risk of potential increased
forbearance activity. This PMA also takes into consideration the Group\u2019s
cautious approach to the potential increase in case migrations to
forbearance against the current uncertain economic outlook. \u20ac62 million
of the PMA predominantly relates to the commercial real estate property
portfolio. At 31 December 2025, \u20ac10 million reflects the increased risk of
forbearance in the non-property business portfolio.
A further \u20ac40 million PMA was approved at 31 December 2025 for the C&IC
segment. A PMA of \u20ac30 million reflects the identification of specific risk
characteristics and emerging underperforming trends impacting a small
number of borrowers within the fibre/broadband infrastructure sector. A
PMA of \u20ac10 million reflects novel geopolitical risks impacting some
renewable assets.
Other PMAs amounting to a further \u20ac3 million in this category are not
individually significant.
Future model developments/Other (audited)
At 31 December 2025, a total PMA of \u20ac100 million primarily reflects the
impact of upcoming model changes.
Within the Capital Markets property portfolio, the recalibrated investment
property model which was deployed in June 2025 is expected to result in
additional exposures migrating to Stage 2. At 31 December 2024, a PMA
of \u20ac90 million was introduced to reflect the potential increase in Stage 2
balances and associated ECL. At 31 December 2025, the PMA has been
reduced to \u20ac70 million, which includes the impact of a staging adjustment
to transfer \u20ac0.6 billion of Stage 1 loans to Stage 2.
PMAs in place for the deployment of new models for non-property
business (\u20ac13 million) and the Syndicated & International Finance (SIF)
portfolio (\u20ac6 million) in Capital Markets have been retained at reduced
levels for 31 December 2025. This reduction reflects the regrading of
cases on the new models and a more stable geopolitical risk outlook.
Other PMAs amounting to a further \u20ac11 million in this category are not
individually significant.
Maximum exposure to credit risk (audited)
Maximum exposure to credit risk from on-balance sheet and off-balance sheet financial instruments is presented before taking account of any collateral
held or other credit enhancements (unless such enhancements meet accounting offsetting requirements). For financial assets recognised on the
statement of financial position, the maximum exposure to credit risk is their carrying amount, and for financial guarantees and similar contracts granted,
it is the maximum amount the Group would have to pay if the guarantees were called upon. For loan commitments and other credit related commitments
that are irrevocable over the life of the respective facilities, it is generally the full amount of the committed facilities.
Credit risk exposure derives from standard on-balance sheet products such as mortgages, loans, overdrafts and credit cards. In\u00a0addition, credit risk
arises from other products and activities including, but not limited to: \u2018off-balance sheet\u2019 guarantees and commitments; securities financing;
investment securities; asset backed securities; and the failure/partial failure of a trade in a settlement or payments system.
The Group manages and reduces its net exposure to credit risk through the use of collateral, netting arrangements and risk transfer strategies. Further
information on credit risk mitigants is provided on pages 184 and 185.
The following table sets out the financial instruments in the statement of financial position and the Group\u2019s maximum exposure to credit risk on those
financial instruments at 31 December 2025 and 2024.
2025
Income statement
Statement of financial position
Maximum exposure
Maximum exposure to credit risk (audited)
Net credit
impairment
charge/writeback
Exposure
ECL
allowance
Carrying
amount
Amortised
cost
Fair
value
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Cash and balances at central banks1
\u2014
40,571
\u2014
40,571
1
39,920
\u2014
39,920
Derivative financial instruments
\u2014
1,641
\u2014
1,641
\u2014
1,641
1,641
Loans and advances to banks
\u2014
601
\u2014
601
601
\u2014
601
Loans and advances to customers
(178)
72,343
(1,143)
71,200
71,116
84
71,200
Securities financing
1
7,339
\u2014
7,339
7,339
\u2014
7,339
Investment securities2
(3)
21,245
(1)
21,244
5,043
16,201
21,244
Trading portfolio financial assets
\u2014
286
\u2014
286
\u2014
286
286
Other financial assets
\u2014
1,039
(1)
1,038
1,012
26
1,038
(180)
145,065
(1,145)
143,920
125,031
18,238
143,269
Loan commitments and other credit related
commitments
3
17,033
(38)
(38)
16,995
\u2014
16,995
Financial guarantees
5
1,206
(10)
(10)
1,196
\u2014
1,196
8
18,239
3
(48)
(48)
18,191
\u2014
18,191
Total
(172)
163,304
(1,193)
143,872
143,222
18,238
161,460
1. Comprises balances at central banks of \u20ac39,920m and other cash on hand of \u20ac651m.
2. Excluding equity shares of \u20ac304m.
3. Comprises off-balance sheet instruments.
2024
Income statement
Statement of financial position
Maximum exposure
Maximum exposure to credit risk (audited)
Net credit
impairment charge/
writeback
Exposure
ECL
allowance
Carrying
amount
Amortised
cost
Fair
value
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Cash and balances at central banks
\u2014
37,315
\u2014
37,315
1
36,651
\u2014
36,651
1
Derivative financial instruments
\u2014
2,144
\u2014
2,144
\u2014
2,144
2,144
Loans and advances to banks
\u2014
1,321
\u2014
1,321
1,321
\u2014
1,321
Loans and advances to customers
(60)
71,233
(1,344)
69,889
69,825
64
69,889
Securities financing
\u2014
6,644
(1)
6,643
6,643
\u2014
6,643
Investment securities2
2
18,372
(1)
18,371
4,803
13,568
18,371
Trading portfolio financial assets
\u2014
136
\u2014
136
\u2014
136
136
Other financial assets
\u2014
592
(1)
591
592
\u2014
592
(58)
137,757
(1,347)
136,410
119,835
15,912
135,747
Loan commitments and other credit related
commitments
1
16,823
(44)
(44)
16,823
\u2014
16,823
Financial guarantees
2
976
(13)
(13)
976
\u2014
976
3
17,799
3
(57)
(57)
17,799
\u2014
17,799
Total
(55)
155,556
(1,404)
136,353
137,634
15,912
153,546
1. Comprises balances at central banks of \u20ac36,651m and other cash on hand of \u20ac664m.
2. Excluding equity shares of \u20ac297m.
3. Comprises off-balance sheet instruments.
Internal credit grade profile by ECL staging (audited)
The table below analyses the internal credit grading profile by ECL staging for the Group\u2019s loans and advances to customers at 31 December 2025 and
2024:
At amortised cost
2025
2024
Stage 1
Stage 2
Stage 3
POCI
Total
Stage 1
Stage 2
Stage 3
POCI
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Total
Strong
44,871
1,702
\u2014
23
46,596
45,774
2,593
\u2014
40
48,407
Satisfactory
16,950
3,558
\u2014
37
20,545
14,598
2,706
\u2014
14
17,318
Total strong/satisfactory
61,821
5,260
\u2014
60
67,141
60,372
5,299
\u2014
54
65,725
Criticised watch
987
1,746
\u2014
7
2,740
728
1,828
\u2014
10
2,566
Criticised recovery
3
772
\u2014
10
785
18
847
\u2014
10
875
Total criticised
990
2,518
\u2014
17
3,525
746
2,675
\u2014
20
3,441
Non-performing
1
\u2014
1,510
82
1,593
1
\u2014
1,889
113
2,003
Gross carrying amount
62,812
7,778
1,510
159
72,259
61,119
7,974
1,889
187
71,169
ECL allowance
(173)
(499)
(487)
16
(1,143)
(184)
(524)
(648)
12
(1,344)
Carrying amount
62,639
7,279
1,023
175
71,116
60,935
7,450
1,241
199
69,825
Gross loans1 and ECL movements (audited)
The following tables set out the movements in the gross carrying amount and ECL allowance for loans and advances to customers at amortised cost by
ECL staging between 1 January 2025 and 31 December 2025 and the corresponding movements between 1 January 2024 and 31\u00a0December 2024.
Accounts that triggered movements between Stage 1 and Stage 2 as a result of failing/curing a quantitative measure only (as disclosed on page\u00a0186) and
that subsequently reverted within the year to their original stage, are excluded from \u2018Transferred from Stage 1 to Stage 2\u2019 and\u00a0\u2018Transferred from Stage 2 to
Stage 1\u2019. The Group believes this presentation aids the understanding of the underlying credit migration.
Gross carrying amount movements \u2013 total (audited)
2025
Stage 1
Stage 2
Stage 3
POCI
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At 1 January
61,119
7,974
1,889
187
71,169
Transferred from Stage 1 to Stage 2
(6,859)
6,859
\u2014
\u2014
\u2014
Transferred from Stage 2 to Stage 1
5,262
(5,262)
\u2014
\u2014
\u2014
Transferred to Stage 3
(84)
(791)
875
\u2014
\u2014
Transferred from Stage 3
18
196
(214)
\u2014
\u2014
New loans originated/top-ups
15,840
\u2014
\u2014
49
15,889
Redemptions/repayments
(13,448)
(2,513)
(458)
(44)
(16,463)
Interest credited
2,724
423
67
7
3,221
Write-offs
\u2014
\u2014
(113)
(1)
(114)
Derecognised due to disposals
(144)
(70)
(549)
(43)
(806)
Exchange translation adjustments
(829)
(71)
(15)
\u2014
(915)
Impact of model, parameter and overlay changes
(1,039)
1,039
\u2014
\u2014
\u2014
Other movements
252
(6)
28
4
278
At 31 December
62,812
7,778
1,510
159
72,259
2024
Stage 1
Stage 2
Stage 3
POCI
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At 1 January
57,252
7,672
1,923
122
66,969
Transferred from Stage 1 to Stage 2
(6,290)
6,290
\u2014
\u2014
\u2014
Transferred from Stage 2 to Stage 1
4,509
(4,509)
\u2014
\u2014
\u2014
Transferred to Stage 3
(149)
(907)
1,056
\u2014
\u2014
Transferred from Stage 3
29
217
(246)
\u2014
\u2014
New loans originated/top-ups
15,898
\u2014
\u2014
88
15,986
Redemptions/repayments
(11,842)
(2,704)
(765)
(31)
(15,342)
Interest credited
2,863
469
89
5
3,426
Write-offs
\u2014
\u2014
(126)
\u2014
(126)
Derecognised due to disposals
(264)
(112)
(81)
\u2014
(457)
Exchange translation adjustments
530
49
15
1
595
Impact of model, parameter and overlay changes
(1,499)
1,499
\u2014
\u2014
\u2014
Other movements
82
10
24
2
118
At 31 December
61,119
7,974
1,889
187
71,169
1. The gross carrying amount movement is recorded at each month end with movements calculated versus the position at previous month end. The sum of all 12 months movement is then presented.
2.1.2 Credit risk \u2013 Credit profile of the loan portfolio continued
Gross loans and ECL movements continued
ECL allowance movements \u2013 total (audited)
2025
Stage 1
Stage 2
Stage 3
POCI
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At 1 January
184
524
648
(12)
1,344
Transferred from Stage 1 to Stage 2
(88)
287
\u2014
\u2014
199
Transferred from Stage 2 to Stage 1
61
(170)
\u2014
\u2014
(109)
Transferred to Stage 3
(1)
(90)
152
\u2014
61
Transferred from Stage 3
1
19
(38)
\u2014
(18)
Net remeasurement (within Stage)
2
25
76
(7)
96
New loans originated/top-ups
77
\u2014
\u2014
\u2014
77
Redemptions/repayments
(14)
(43)
\u2014
1
(56)
Impact of model changes 1
\u2014
(16)
(1)
\u2014
(17)
Impact of overlay changes 1
41
(4)
(6)
\u2014
31
Impact of credit or economic risk parameters
(41)
(18)
(1)
\u2014
(60)
Net remeasurement of ECL allowance
38
(10)
182
(6)
204
Write-offs
\u2014
\u2014
(113)
(1)
(114)
Derecognised due to disposals
(44)
(12)
(228)
(2)
(286)
Exchange translation adjustments
(5)
(3)
(5)
\u2014
(13)
Other movements
\u2014
\u2014
3
5
8
At 31 December
173
499
487
(16)
1,143
2024
Stage 1
Stage 2
Stage 3
POCI
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At 1 January
254
635
634
(3)
1,520
Transferred from Stage 1 to Stage 2
(79)
277
\u2014
\u2014
198
Transferred from Stage 2 to Stage 1
87
(243)
\u2014
\u2014
(156)
Transferred to Stage 3
\u2014
(108)
190
\u2014
82
Transferred from Stage 3
\u2014
21
(47)
\u2014
(26)
Net remeasurement (within Stage)
(8)
15
75
(10)
72
New loans originated/top-ups
57
\u2014
\u2014
\u2014
57
Redemptions/repayments
(33)
(69)
\u2014
\u2014
(102)
Impact of model changes1
14
53
\u2014
\u2014
67
Impact of overlay changes1
(10)
(12)
(37)
\u2014
(59)
Impact of credit or economic risk parameters
(16)
(17)
(8)
\u2014
(41)
Net remeasurement of ECL allowance
12
(83)
173
(10)
92
Write-offs
\u2014
\u2014
(126)
\u2014
(126)
Derecognised due to disposals
(88)
(29)
(56)
\u2014
(173)
Exchange translation adjustments
7
4
5
\u2014
16
Other movements
(1)
(3)
18
1
15
At 31 December
184
524
648
(12)
1,344
1. For further clarity, the ECL allowance movements regarding the impact of model and overlay changes have been reported as separate categories for 2025 and 2024 comparatives.
2.1.2 Credit risk \u2013 Credit profile of the loan portfolio continued
Gross loans and ECL movements continued (audited)
Total exposures to which an ECL applies increased during the year by\u00a0
\u20ac1.0 billion from \u20ac71.2 billion at 1 January 2025 to \u20ac72.2 billion at
31\u00a0December 2025. The increase in the year was driven by new loans
originated/top-ups of \u20ac15.9 billion, partially offset by redemptions/
repayments net of interest credited of \u20ac13.2 billion, adverse foreign
exchange movements of \u20ac0.9 billion, and loan disposals including write-
offs of \u20ac0.9 billion.
Stage transfers are a key component of ECL allowance movements (i.e.
Stage 1 to Stage 2 to Stage 3 and vice versa) in addition to the net
remeasurement of ECL due to a change in risk parameters within a stage.
Excluding the impact of model changes, overlay changes and the updated
macroeconomic scenarios, an ECL charge of \u20ac250 million occurred due
to underlying credit management activity and a slight deterioration in
credit parameters which inform the modelled outcomes. This was
primarily driven by a \u20ac99 million charge for the non-property business
sector which included the credit deterioration of a small number of
borrowers in the fibre/broadband infrastructure sectors. The property and
construction sector also experienced a \u20ac95 million charge which was
driven by the recognition of risk through the modelled outcomes and
offset by a release of PMAs.
The impact of model changes resulted in a net writeback of\u00a0\u20ac17\u00a0million. This
was primarily driven by a \u20ac47 million writeback due to the redeveloped
corporate LGD models deployed and partially offset by a \u20ac31 million charge
due to the deployment of the recalibrated investment property model.
The impact of overlay changes resulted in a net charge of\u00a0\u20ac31\u00a0million. New
PMAs in the year of \u20ac40 million relating to the C&IC segment and \u20ac26 million
for the unsecured Stage 3 Retail portfolio were offset by a reduction in
existing PMAs due to the utilisation of PMAs which are now captured in the
modelled outcomes and through portfolio disposals. Further details on
PMAs are outlined on pages 195 and 196. PMAs ensure exposures subject
to risks which are not adequately reflected in the modelled outcomes, retain
an appropriate ECL.
The updated macroeconomic scenarios and weightings resulted in an ECL
release of \u20ac60 million. This ECL movement is presented separately within
\u2018Impact of credit or economic risk parameters\u2019. This release was most
significant within the property and construction (\u20ac28 million) and non-
property business (\u20ac22 million) portfolios. The reduction reflects
improvements in the actual unemployment rates for 2025 in addition to
more favourable revised forecasts for 2026/27.
The gross loan transfers from Stage 1 to Stage 2 of \u20ac6.9 billion are due to
underlying credit management activity where a significant increase in
credit risk occurred during the year through either the quantitative or
qualitative criteria for stage movement. 50% of the movements relied on a
qualitative or backstop indicator of significant increase in credit risk (e.g.
forbearance or movement to a watch grade) with 1% caused solely by the
backstop of 30 days past due. Of the \u20ac6.9 billion which transferred from
Stage 1 to Stage 2 in the year, approximately \u20ac4.4 billion is reported as
Stage 2 at 31 December 2025.
Where a movement to Stage 2 is triggered by multiple drivers
simultaneously, these are reported in the following order: quantitative,
qualitative and backstop.
Similarly, transfers from Stage 2 to Stage 1 of \u20ac5.3 billion represent those
loans where the triggers for significant increase in credit risk no longer
apply or loans that have fulfilled a probation period.
These transfers include loans which have been upgraded through normal
credit management processes and incorporate loans which transferred due
to the impact of the updated macroeconomic scenarios and weightings.
Transfers from Stage 2 to Stage 3 of \u20ac0.8 billion represent those loans that
defaulted during the year. These arose in cases where it was determined
that the customers were unlikely to pay their loans in full without the
realisation of collateral regardless of the existence of any past due
amount or the number of days past due. In addition, transfers also include
all borrowers that are 90 days or more past due on a material obligation.
Of the transfers from Stage 2 to Stage 3, \u20ac0.2 billion had transferred from
Stage 1 to Stage 2 earlier in the year.
Transfers from Stage 3 to Stage 2 of \u20ac0.2 billion were mainly driven by
resolution activity with the customer, through either restructuring or
forbearance previously granted and which subsequently adhered to
default probation requirements. As part of the credit management
practices, active monitoring of loans and their adherence to default
probation requirements is in place.
Movements in off-balance sheet exposures (audited)
The following tables set out the movements in the nominal amount and ECL allowance for loan commitments and financial guarantees by ECL staging
for the year to 31 December 2025 and 2024 :
Nominal amount movements (audited)
2025
Loan commitments
Financial guarantee contracts
Stage 1
Stage 2
Stage 3
POCI
Total
Stage 1
Stage 2
Stage 3
POCI
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At 1 January
15,354
1,379
83
7
16,823
883
79
14
\u2014
976
Transferred from Stage 1 to Stage 2
(832)
832
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Transferred from Stage 2 to Stage 1
632
(632)
\u2014
\u2014
\u2014
221
(221)
\u2014
\u2014
\u2014
Transferred to Stage 3
(57)
(13)
70
\u2014
\u2014
\u2014
(5)
5
\u2014
\u2014
Transferred from Stage 3
3
5
(8)
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Other movements1
418
(197)
(10)
(1)
210
31
199
\u2014
\u2014
230
At 31 December
15,518
1,374
135
6
17,033
1,135
52
19
\u2014
1,206
2024
Loan commitments
Financial guarantee contracts
Stage 1
Stage 2
Stage 3
POCI
Total
Stage 1
Stage 2
Stage 3
POCI
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At 1 January
14,921
1,136
71
8
16,136
790
52
14
1
857
Transferred from Stage 1 to Stage 2
(835)
835
\u2014
\u2014
\u2014
(71)
71
\u2014
\u2014
\u2014
Transferred from Stage 2 to Stage 1
401
(401)
\u2014
\u2014
\u2014
28
(28)
\u2014
\u2014
\u2014
Transferred to Stage 3
(16)
(20)
36
\u2014
\u2014
(2)
\u2014
2
\u2014
\u2014
Transferred from Stage 3
10
8
(18)
\u2014
\u2014
1
\u2014
(1)
\u2014
\u2014
Other movements1
873
(179)
(6)
(1)
687
137
(16)
(1)
(1)
119
At 31 December
15,354
1,379
83
7
16,823
883
79
14
\u2014
976
1. Includes new commitments, utilised and expired commitments.
The internal credit grade profile of loan commitments and financial guarantee contracts is set out in the following table (audited):
2025
2024
\u20ac m
\u20ac m
Strong
10,651
10,858
Satisfactory
6,935
6,435
Criticised watch
452
381
Criticised recovery
46
22
Default
155
103
Total
18,239
17,799
Movements in off-balance sheet exposures continued (audited)
ECL allowance movements (audited)
2025
Loan commitments
Financial guarantee contracts
Stage 1
Stage 2
Stage 3
POCI
Total
Stage 1
Stage 2
Stage 3
POCI
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At 1 January
16
23
4
1
44
1
4
8
\u2014
13
Transferred from Stage 1 to Stage 2
(3)
15
\u2014
\u2014
12
(1)
3
\u2014
\u2014
2
Transferred from Stage 2 to Stage 1
6
(17)
\u2014
\u2014
(11)
\u2014
(2)
\u2014
\u2014
(2)
Transferred to Stage 3
\u2014
(1)
5
\u2014
4
\u2014
(1)
1
\u2014
\u2014
Transferred from Stage 3
\u2014
\u2014
(1)
\u2014
(1)
\u2014
1
(1)
\u2014
\u2014
Net remeasurement
(6)
\u2014
(1)
\u2014
(7)
\u2014
(1)
(4)
\u2014
(5)
Net income statement (credit)/charge
(3)
(3)
3
\u2014
(3)
(1)
\u2014
(4)
\u2014
(5)
Other movements
(1)
\u2014
(1)
(1)
(3)
1
\u2014
1
\u2014
2
At 31 December
12
20
6
\u2014
38
1
4
5
\u2014
10
2024
Loan commitments
Financial guarantee contracts
Stage 1
Stage 2
Stage 3
POCI
Total
Stage 1
Stage 2
Stage 3
POCI
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At 1 January
12
26
4
1
43
2
5
9
\u2014
16
Transferred from Stage 1 to Stage 2
(3)
22
\u2014
\u2014
19
\u2014
5
\u2014
\u2014
5
Transferred from Stage 2 to Stage 1
6
(32)
\u2014
\u2014
(26)
2
(3)
\u2014
\u2014
(1)
Transferred to Stage 3
\u2014
\u2014
2
\u2014
2
\u2014
(1)
2
\u2014
1
Transferred from Stage 3
\u2014
\u2014
(1)
\u2014
(1)
\u2014
1
(1)
\u2014
\u2014
Net remeasurement
\u2014
7
(2)
\u2014
5
(2)
(3)
(2)
\u2014
(7)
Net income statement charge/(credit)
3
(3)
(1)
\u2014
(1)
\u2014
(1)
(1)
\u2014
(2)
Other movements
1
\u2014
1
\u2014
2
(1)
\u2014
\u2014
\u2014
(1)
At 31 December
16
23
4
1
44
1
4
8
\u2014
13
The following table analyses the residential mortgage portfolio at amortised cost by segment, internal credit ratings and ECL staging at
31 December 2025 and 2024:
(Audited)
2025
2024
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Retail
Banking
Capital
Markets
C&IC
AIB
UK
Group
Total
Gross carrying amount
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Owner-occupier
35,014
449
\u2014
942
\u2014
36,405
34,346
417
\u2014
925
\u2014
35,688
Buy-to-let
1,029
59
\u2014
38
\u2014
1,126
1,174
62
\u2014
46
\u2014
1,282
Total
36,043
508
\u2014
980
\u2014
37,531
35,520
479
\u2014
971
\u2014
36,970
Analysed by internal credit ratings
Strong
30,091
342
\u2014
769
\u2014
31,202
28,930
311
\u2014
849
\u2014
30,090
Satisfactory
4,564
157
\u2014
156
\u2014
4,877
4,829
150
\u2014
72
\u2014
5,051
Total strong/satisfactory
34,655
499
\u2014
925
\u2014
36,079
33,759
461
\u2014
921
\u2014
35,141
Criticised watch
623
7
\u2014
16
\u2014
646
786
15
\u2014
11
\u2014
812
Criticised recovery
136
\u2014
\u2014
2
\u2014
138
142
\u2014
\u2014
3
\u2014
145
Total criticised
759
7
\u2014
18
\u2014
784
928
15
\u2014
14
\u2014
957
Non-performing
629
2
\u2014
37
\u2014
668
833
3
\u2014
36
\u2014
872
Gross carrying amount
36,043
508
\u2014
980
\u2014
37,531
35,520
479
\u2014
971
\u2014
36,970
Analysed by ECL staging
Stage 1
33,602
473
\u2014
924
\u2014
34,999
32,799
441
\u2014
925
\u2014
34,165
Stage 2
1,740
33
\u2014
19
\u2014
1,792
1,820
35
\u2014
10
\u2014
1,865
Stage 3
552
2
\u2014
37
\u2014
591
731
3
\u2014
36
\u2014
770
POCI
149
\u2014
\u2014
\u2014
\u2014
149
170
\u2014
\u2014
\u2014
\u2014
170
Total
36,043
508
\u2014
980
\u2014
37,531
35,520
479
\u2014
971
\u2014
36,970
ECL allowance \u2013 statement of financial position
Stage 1
12
\u2014
\u2014
1
\u2014
13
10
\u2014
\u2014
\u2014
\u2014
10
Stage 2
47
1
\u2014
\u2014
\u2014
48
52
1
\u2014
\u2014
\u2014
53
Stage 3
122
\u2014
\u2014
3
\u2014
125
206
1
\u2014
3
\u2014
210
POCI
(10)
\u2014
\u2014
\u2014
\u2014
(10)
(3)
\u2014
\u2014
\u2014
\u2014
(3)
Total
171
1
\u2014
4
\u2014
176
265
2
\u2014
3
\u2014
270
ECL allowance cover
percentage
%
%
%
%
%
%
%
%
%
%
%
%
Stage 1
\u2014
\u2014
\u2014
0.1
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Stage 2
2.7
3.0
\u2014
\u2014
\u2014
2.7
2.9
2.5
\u2014
\u2014
\u2014
2.8
Stage 3
22.1
\u2014
\u2014
8.1
\u2014
21.2
28.2
30.3
\u2014
8.3
\u2014
27.2
POCI
(6.7)
\u2014
\u2014
\u2014
\u2014
(6.7)
(1.8)
\u2014
\u2014
\u2014
\u2014
(1.8)
Income statement
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Net remeasurement
of\u00a0ECL\u00a0allowance
(24)
(1)
\u2014
1
\u2014
(24)
(27)
\u2014
\u2014
(1)
\u2014
(28)
Recoveries of amounts
previously written-off
(7)
\u2014
\u2014
(1)
\u2014
(8)
(8)
\u2014
\u2014
\u2014
\u2014
(8)
Net credit impairment
(writeback)/charge
(31)
(1)
\u2014
\u2014
\u2014
(32)
(35)
\u2014
\u2014
(1)
\u2014
(36)
Loans and advances to customers - residential mortgages
Indexed loan-to-value ratios of the Group\u2019s residential mortgage portfolio
The following table profiles the residential mortgage portfolio by the indexed loan-to-value (LTV) ratios at 31 December 2025 and 2024:
2025
2024
(Audited)
At amortised cost
At amortised cost
Stage 1
Stage 2
Stage 3
POCI
Total
Stage 1
Stage 2
Stage 3
POCI
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Less than 80%
32,790
1,752
542
138
35,222
31,968
1,830
702
154
34,654
81 \u2013 100%
2,077
32
28
5
2,142
2,082
26
42
5
2,155
100 \u2013 120%
40
3
9
3
55
32
2
9
1
44
Greater than 120%
89
4
10
2
105
80
6
15
3
104
Total with LTVs
34,996
1,791
589
148
37,524
34,162
1,864
768
163
36,957
Unsecured
3
1
2
1
7
3
1
2
7
13
Total
34,999
1,792
591
149
37,531
34,165
1,865
770
170
36,970
Of which:
Owner-occupier
Less than 80%
31,864
1,629
501
128
34,122
30,950
1,669
646
146
33,411
81 \u2013 100%
2,073
32
23
4
2,132
2,077
27
31
3
2,138
100 \u2013 120%
39
2
6
1
48
31
1
7
1
40
Greater than 120%
87
4
7
1
99
76
5
10
3
94
Total with LTVs
34,063
1,667
537
134
36,401
33,134
1,702
694
153
35,683
Unsecured
2
\u2014
1
1
4
2
\u2014
1
2
5
Total
34,065
1,667
538
135
36,405
33,136
1,702
695
155
35,688
The following table analyses other personal lending at amortised cost by segment, internal credit ratings and ECL staging at 31 December 2025 and 2024:
(Audited)
2025
2024
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Gross carrying amount
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Credit cards
750
13
\u2014
20
\u2014
783
736
9
\u2014
22
\u2014
767
Loans/overdrafts
2,532
84
\u2014
40
\u2014
2,656
2,370
84
\u2014
44
\u2014
2,498
Total
3,282
97
\u2014
60
\u2014
3,439
3,106
93
\u2014
66
\u2014
3,265
Analysed by internal credit ratings
Strong
489
14
\u2014
55
\u2014
558
469
9
\u2014
59
\u2014
537
Satisfactory
1,900
77
\u2014
4
\u2014
1,981
1,797
76
\u2014
6
\u2014
1,879
Total strong/satisfactory
2,389
91
\u2014
59
\u2014
2,539
2,266
85
\u2014
65
\u2014
2,416
Criticised watch
796
6
\u2014
\u2014
\u2014
802
728
8
\u2014
\u2014
\u2014
736
Criticised recovery
11
\u2014
\u2014
\u2014
\u2014
11
13
\u2014
\u2014
\u2014
\u2014
13
Total criticised
807
6
\u2014
\u2014
\u2014
813
741
8
\u2014
\u2014
\u2014
749
Non-performing
86
\u2014
\u2014
1
\u2014
87
99
\u2014
\u2014
1
\u2014
100
Gross carrying amount
3,282
97
\u2014
60
\u2014
3,439
3,106
93
\u2014
66
\u2014
3,265
Analysed by ECL staging
Stage 1
2,662
90
\u2014
57
\u2014
2,809
2,403
84
\u2014
62
\u2014
2,549
Stage 2
534
7
\u2014
2
\u2014
543
604
9
\u2014
3
\u2014
616
Stage 3
86
\u2014
\u2014
1
\u2014
87
99
\u2014
\u2014
1
\u2014
100
POCI
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Total
3,282
97
\u2014
60
\u2014
3,439
3,106
93
\u2014
66
\u2014
3,265
ECL allowance \u2013 statement of financial position
Stage 1
21
1
\u2014
\u2014
\u2014
22
18
1
\u2014
\u2014
\u2014
19
Stage 2
48
\u2014
\u2014
\u2014
\u2014
48
51
1
\u2014
\u2014
\u2014
52
Stage 3
60
\u2014
\u2014
1
\u2014
61
65
\u2014
\u2014
1
\u2014
66
POCI
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Total
129
1
\u2014
1
\u2014
131
134
2
\u2014
1
\u2014
137
ECL allowance cover
percentage
%
%
%
%
%
%
%
%
%
%
%
%
Stage 1
0.8
1.1
\u2014
\u2014
\u2014
0.8
0.8
0.6
\u2014
\u2014
\u2014
0.7
Stage 2
9.0
\u2014
\u2014
\u2014
\u2014
8.8
8.5
9.3
\u2014
\u2014
\u2014
8.5
Stage 3
69.8
\u2014
\u2014
100.0
\u2014
70.1
65.4
\u2014
\u2014
63.0
\u2014
65.3
POCI
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Income statement
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Net remeasurement
of\u00a0ECL\u00a0allowance
71
(1)
\u2014
\u2014
\u2014
70
81
\u2014
\u2014
\u2014
\u2014
81
Recoveries of amounts
previously written-off
(1)
\u2014
\u2014
\u2014
\u2014
(1)
(2)
\u2014
\u2014
\u2014
\u2014
(2)
Net credit impairment
charge/(writeback)
70
(1)
\u2014
\u2014
\u2014
69
79
\u2014
\u2014
\u2014
\u2014
79
The following table analyses property and construction lending at amortised cost by segment, internal credit ratings and ECL staging at
31 December 2025 and 2024:
(Audited)
2025
2024
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Gross carrying amount
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Investment:
Residential investment
28
1,441
\u2014
583
\u2014
2,052
40
1,671
\u2014
409
\u2014
2,120
Student housing
\u2014
304
\u2014
571
\u2014
875
\u2014
337
\u2014
541
\u2014
878
Housing associations
\u2014
232
\u2014
577
\u2014
809
\u2014
157
\u2014
486
\u2014
643
Commercial investment \u2013
Office
17
1,240
\u2014
377
\u2014
1,634
23
1,433
\u2014
400
\u2014
1,856
Commercial investment \u2013
Retail
30
361
\u2014
41
\u2014
432
35
658
\u2014
90
\u2014
783
Commercial investment \u2013
Mixed
34
763
\u2014
145
\u2014
942
49
697
\u2014
116
\u2014
862
Commercial investment \u2013
Industrial
16
284
\u2014
250
\u2014
550
20
280
\u2014
160
\u2014
460
Total investment
125
4,625
\u2014
2,544
\u2014
7,294
167
5,233
\u2014
2,202
\u2014
7,602
Land and development:
Residential development
26
513
\u2014
80
\u2014
619
25
574
\u2014
101
\u2014
700
Commercial development
3
7
\u2014
79
\u2014
89
5
14
\u2014
90
\u2014
109
Total land and development
29
520
\u2014
159
\u2014
708
30
588
\u2014
191
\u2014
809
Contractors
253
111
\u2014
23
\u2014
387
231
91
\u2014
28
\u2014
350
Total
407
5,256
\u2014
2,726
\u2014
8,389
428
5,912
\u2014
2,421
\u2014
8,761
Analysed by internal credit ratings
Strong
30
2,167
\u2014
1,184
\u2014
3,381
54
4,473
\u2014
1,108
\u2014
5,635
Satisfactory
271
2,286
\u2014
1,418
\u2014
3,975
243
616
\u2014
1,227
\u2014
2,086
Total strong/satisfactory
301
4,453
\u2014
2,602
\u2014
7,356
297
5,089
\u2014
2,335
\u2014
7,721
Criticised watch
68
154
\u2014
23
\u2014
245
72
50
\u2014
3
\u2014
125
Criticised recovery
8
378
\u2014
59
\u2014
445
13
356
\u2014
7
\u2014
376
Total criticised
76
532
\u2014
82
\u2014
690
85
406
\u2014
10
\u2014
501
Non-performing
30
271
\u2014
42
\u2014
343
46
417
\u2014
76
\u2014
539
Gross carrying amount
407
5,256
\u2014
2,726
\u2014
8,389
428
5,912
\u2014
2,421
\u2014
8,761
Analysed by ECL staging
Stage 1
294
2,879
\u2014
2,487
\u2014
5,660
285
3,102
\u2014
2,110
\u2014
5,497
Stage 2
83
2,106
\u2014
197
\u2014
2,386
97
2,393
\u2014
235
\u2014
2,725
Stage 3
29
271
\u2014
42
\u2014
342
44
417
\u2014
76
\u2014
537
POCI
1
\u2014
\u2014
\u2014
\u2014
1
2
\u2014
\u2014
\u2014
\u2014
2
Total
407
5,256
\u2014
2,726
\u2014
8,389
428
5,912
\u2014
2,421
\u2014
8,761
ECL allowance \u2013 statement of financial position
Stage 1
1
59
\u2014
17
\u2014
77
1
44
\u2014
15
\u2014
60
Stage 2
4
202
\u2014
10
\u2014
216
5
208
\u2014
13
\u2014
226
Stage 3
15
116
\u2014
9
\u2014
140
15
149
\u2014
15
\u2014
179
POCI
(1)
\u2014
\u2014
\u2014
\u2014
(1)
(1)
\u2014
\u2014
\u2014
\u2014
(1)
Total
19
377
\u2014
36
\u2014
432
20
401
\u2014
43
\u2014
464
ECL allowance cover
percentage
%
%
%
%
%
%
%
%
%
%
%
%
Stage 1
0.3
2.0
\u2014
0.7
\u2014
1.4
0.4
1.4
\u2014
0.7
\u2014
1.1
Stage 2
4.8
9.6
\u2014
5.1
\u2014
9.1
5.0
8.7
\u2014
5.6
\u2014
8.3
Stage 3
51.7
42.8
\u2014
21.4
\u2014
40.9
35.2
35.8
\u2014
19.6
\u2014
33.4
POCI
(100.0)
\u2014
\u2014
\u2014
\u2014
(100.0)
(51.4)
\u2014
\u2014
\u2014
\u2014
(51.4)
Income statement
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Net remeasurement of ECL
allowance
2
28
\u2014
22
\u2014
52
1
(6)
\u2014
14
\u2014
9
Recoveries of amounts
previously written-off
(3)
(3)
\u2014
\u2014
\u2014
(6)
(3)
(3)
\u2014
\u2014
\u2014
(6)
Net credit impairment
(writeback)/charge
(1)
25
\u2014
22
\u2014
46
(2)
(9)
\u2014
14
\u2014
3
The following table analyses non-property business lending at amortised cost by segment, internal credit ratings and ECL staging at 31 December 2025
and 2024:
(Audited)
2025
2024
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Retail
Banking
Capital
Markets
C&IC
AIB
UK
Group
Total
Gross carrying amount
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Natural resources
18
269
4,974
182
\u2014
5,443
18
531
4,204
242
\u2014
4,995
Of which renewables
\u2014
1
4,949
22
\u2014
4,972
\u2014
282
4,176
21
\u2014
4,479
Leisure
240
2,016
\u2014
540
\u2014
2,796
298
2,016
\u2014
628
\u2014
2,942
Manufacturing
146
2,462
\u2014
286
\u2014
2,894
148
2,395
\u2014
210
\u2014
2,753
Health, education and
social work
104
1,383
\u2014
400
\u2014
1,887
109
1,327
\u2014
443
\u2014
1,879
Services
552
1,426
257
223
\u2014
2,458
532
1,174
265
279
\u2014
2,250
Agriculture, forestry and fishing
1,240
350
\u2014
44
\u2014
1,634
1,284
353
\u2014
54
\u2014
1,691
Retail and wholesale trade
338
1,608
\u2014
113
\u2014
2,059
381
1,408
\u2014
106
\u2014
1,895
Transport and storage
213
914
348
364
\u2014
1,839
205
785
394
464
\u2014
1,848
Telecommunications,
media and\u00a0technology
29
589
763
63
\u2014
1,444
33
715
665
37
\u2014
1,450
Financial, insurance and
other government\u00a0activities
25
197
\u2014
133
91
446
25
314
\u2014
81
50
470
Total
2,905
11,214
6,342
2,348
91
22,900
3,033
11,018
5,528
2,544
50
22,173
Of which Syndicated &
International Finance (SIF)
\u2014
3,342
\u2014
\u2014
\u2014
3,342
\u2014
2,803
\u2014
\u2014
\u2014
2,803
Analysed by internal credit ratings
Strong
149
4,466
5,367
1,473
\u2014
11,455
141
5,674
4,858
1,452
20
12,145
Satisfactory
2,176
6,002
656
787
91
9,712
2,189
4,726
579
778
30
8,302
Total strong/satisfactory
2,325
10,468
6,023
2,260
91
21,167
2,330
10,400
5,437
2,230
50
20,447
Criticised watch
396
568
50
33
\u2014
1,047
453
393
2
45
\u2014
893
Criticised recovery
34
67
66
24
\u2014
191
53
115
51
122
\u2014
341
Total criticised
430
635
116
57
\u2014
1,238
506
508
53
167
\u2014
1,234
Non-performing
150
111
203
31
\u2014
495
197
110
38
147
\u2014
492
Gross carrying amount
2,905
11,214
6,342
2,348
91
22,900
3,033
11,018
5,528
2,544
50
22,173
Analysed by ECL staging
Stage 1
2,245
9,585
5,245
2,178
91
19,344
2,241
9,349
5,206
2,062
50
18,908
Stage 2
507
1,517
894
139
\u2014
3,057
591
1,558
284
335
\u2014
2,768
Stage 3
145
111
203
31
\u2014
490
188
109
38
147
\u2014
482
POCI
8
1
\u2014
\u2014
\u2014
9
13
2
\u2014
\u2014
\u2014
15
Total
2,905
11,214
6,342
2,348
91
22,900
3,033
11,018
5,528
2,544
50
22,173
ECL allowance \u2013 statement of financial position
Stage 1
8
31
4
18
\u2014
61
10
46
19
20
\u2014
95
Stage 2
26
120
31
10
\u2014
187
30
125
20
18
\u2014
193
Stage 3
57
28
59
17
\u2014
161
65
42
6
80
\u2014
193
POCI
(4)
(1)
\u2014
\u2014
\u2014
(5)
(7)
(1)
\u2014
\u2014
\u2014
(8)
Total
87
178
94
45
\u2014
404
98
212
45
118
\u2014
473
ECL allowance cover
percentage
%
%
%
%
%
%
%
%
%
%
%
%
Stage 1
0.4
0.3
0.1
0.8
\u2014
0.3
0.4
0.5
0.4
1.0
\u2014
0.5
Stage 2
5.1
7.9
3.5
7.2
\u2014
6.1
5.0
8.0
6.9
5.4
\u2014
6.9
Stage 3
39.3
25.2
29.1
54.8
\u2014
32.9
34.6
38.7
16.0
55.0
\u2014
40.2
POCI
(50.0)
(100.0)
\u2014
\u2014
\u2014
(55.6)
(48.6)
(57.2)
\u2014
\u2014
\u2014
(49.7)
Income statement
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Net remeasurement of ECL
allowance
19
(8)
69
26
\u2014
106
(5)
(63)
22
76
\u2014
30
Recoveries of amounts
previously written-off
(4)
(1)
\u2014
(6)
\u2014
(11)
(7)
(7)
\u2014
(2)
\u2014
(16)
Net credit impairment
charge/(writeback)
15
(9)
69
20
\u2014
95
(12)
(70)
22
74
\u2014
14
External credit ratings of certain financial asset s (audited)
The following table sets out the credit quality, based on external credit ratings, of financial assets measured at 31 December 2025 and 2024:
\u2022 Amortised cost: Loans and advances to banks of \u20ac601 million (2024: \u20ac1,321 million), securities financing of \u20ac7,339 million (2024: \u20ac6,643 million),
investment debt securities at amortised cost of \u20ac5,043 million (2024: \u20ac4,803 million);
\u2022 FVOCI: Investment debt securities at FVOCI of \u20ac16,201 million (2024: \u20ac13,568 million); and
\u2022 FVTPL: Trading portfolio of financial assets of \u20ac276 million (2024: \u20ac121 million).
Information on the credit ratings for loans and advances to customers where\u00a0an external credit rating is available is disclosed on page 219.
2025
2024
(Audited)
At amortised cost
At amortised cost
Bank
Corporate
Sovereign
Other
Total
Bank
Corporate
Sovereign
Other
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
AAA/AA
1,410
\u2014
2,372
2,235
6,017
1,213
\u2014
2,412
1,946
5,571
A/A-
4,819
1,513
75
94
6,501
5,391
1,240
17
167
6,815
BBB+/BBB/BBB-
5
357
\u2014
\u2014
362
15
245
34
\u2014
294
Sub investment
5
47
\u2014
\u2014
52
3
25
\u2014
\u2014
28
Unrated
1
50
\u2014
\u2014
51
6
53
\u2014
\u2014
59
Total
6,240
1,967
2,447
2,329
1
12,983
6,628
1,563
2,463
2,113
1
12,767
Of which:
Stage 1
6,240
1,967
2,447
2,329
12,983
6,628
1,563
2,463
2,113
12,767
Stage 2
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Stage 3
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
2025
2024
(Audited)
At FVOCI
At FVOCI
Bank
Corporate
Sovereign
Other
Total
Bank
Corporate
Sovereign
Other
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
AAA/AA
5,296
188
6,172
107
11,763
5,164
196
5,002
153
10,515
A/A-
1,103
532
1,479
\u2014
3,114
1,205
373
490
\u2014
2,068
BBB+/BBB/BBB-
185
213
926
\u2014
1,324
163
169
643
\u2014
975
Sub investment
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Unrated
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
10
\u2014
10
Total
6,584
933
8,577
2
107
16,201
6,532
738
6,145
2
153
13,568
Of which:
Stage 1
6,584
933
8,577
107
16,201
6,532
738
6,145
153
13,568
Stage 2
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Stage 3
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
2025
2024
(Audited)
At FVTPL
At FVTPL
Bank
Corporate
Sovereign
Other
Total
Bank
Corporate
Sovereign
Other
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
AAA/AA
\u2014
\u2014
171
\u2014
171
\u2014
\u2014
103
\u2014
103
A/A-
3
3
91
\u2014
97
\u2014
\u2014
\u2014
\u2014
\u2014
BBB+/BBB/BBB-
8
\u2014
\u2014
\u2014
8
10
6
\u2014
\u2014
16
Sub investment
\u2014
\u2014
\u2014
\u2014
\u2014
2
\u2014
\u2014
\u2014
2
Unrated
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Total
11
3
262
\u2014
276
12
6
103
\u2014
121
Of which:
Stage 1
11
3
262
\u2014
276
12
6
103
\u2014
121
Stage 2
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Stage 3
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
1. Relates to asset backed securities.
2. Includes supranational banks and government agencies.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-4": { "value": "
Gross loans1 and ECL movements (audited)
The following tables set out the movements in the gross carrying amount and ECL allowance for loans and advances to customers at amortised cost by
ECL staging between 1 January 2025 and 31 December 2025 and the corresponding movements between 1 January 2024 and 31\u00a0December 2024.
Accounts that triggered movements between Stage 1 and Stage 2 as a result of failing/curing a quantitative measure only (as disclosed on page\u00a0186) and
that subsequently reverted within the year to their original stage, are excluded from \u2018Transferred from Stage 1 to Stage 2\u2019 and\u00a0\u2018Transferred from Stage 2 to
Stage 1\u2019. The Group believes this presentation aids the understanding of the underlying credit migration.
Gross carrying amount movements \u2013 total (audited)
2025
Stage 1
Stage 2
Stage 3
POCI
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At 1 January
61,119
7,974
1,889
187
71,169
Transferred from Stage 1 to Stage 2
(6,859)
6,859
\u2014
\u2014
\u2014
Transferred from Stage 2 to Stage 1
5,262
(5,262)
\u2014
\u2014
\u2014
Transferred to Stage 3
(84)
(791)
875
\u2014
\u2014
Transferred from Stage 3
18
196
(214)
\u2014
\u2014
New loans originated/top-ups
15,840
\u2014
\u2014
49
15,889
Redemptions/repayments
(13,448)
(2,513)
(458)
(44)
(16,463)
Interest credited
2,724
423
67
7
3,221
Write-offs
\u2014
\u2014
(113)
(1)
(114)
Derecognised due to disposals
(144)
(70)
(549)
(43)
(806)
Exchange translation adjustments
(829)
(71)
(15)
\u2014
(915)
Impact of model, parameter and overlay changes
(1,039)
1,039
\u2014
\u2014
\u2014
Other movements
252
(6)
28
4
278
At 31 December
62,812
7,778
1,510
159
72,259
2024
Stage 1
Stage 2
Stage 3
POCI
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At 1 January
57,252
7,672
1,923
122
66,969
Transferred from Stage 1 to Stage 2
(6,290)
6,290
\u2014
\u2014
\u2014
Transferred from Stage 2 to Stage 1
4,509
(4,509)
\u2014
\u2014
\u2014
Transferred to Stage 3
(149)
(907)
1,056
\u2014
\u2014
Transferred from Stage 3
29
217
(246)
\u2014
\u2014
New loans originated/top-ups
15,898
\u2014
\u2014
88
15,986
Redemptions/repayments
(11,842)
(2,704)
(765)
(31)
(15,342)
Interest credited
2,863
469
89
5
3,426
Write-offs
\u2014
\u2014
(126)
\u2014
(126)
Derecognised due to disposals
(264)
(112)
(81)
\u2014
(457)
Exchange translation adjustments
530
49
15
1
595
Impact of model, parameter and overlay changes
(1,499)
1,499
\u2014
\u2014
\u2014
Other movements
82
10
24
2
118
At 31 December
61,119
7,974
1,889
187
71,169
1. The gross carrying amount movement is recorded at each month end with movements calculated versus the position at previous month end. The sum of all 12 months movement is then presented.
2.1.2 Credit risk \u2013 Credit profile of the loan portfolio continued
Gross loans and ECL movements continued
ECL allowance movements \u2013 total (audited)
2025
Stage 1
Stage 2
Stage 3
POCI
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At 1 January
184
524
648
(12)
1,344
Transferred from Stage 1 to Stage 2
(88)
287
\u2014
\u2014
199
Transferred from Stage 2 to Stage 1
61
(170)
\u2014
\u2014
(109)
Transferred to Stage 3
(1)
(90)
152
\u2014
61
Transferred from Stage 3
1
19
(38)
\u2014
(18)
Net remeasurement (within Stage)
2
25
76
(7)
96
New loans originated/top-ups
77
\u2014
\u2014
\u2014
77
Redemptions/repayments
(14)
(43)
\u2014
1
(56)
Impact of model changes 1
\u2014
(16)
(1)
\u2014
(17)
Impact of overlay changes 1
41
(4)
(6)
\u2014
31
Impact of credit or economic risk parameters
(41)
(18)
(1)
\u2014
(60)
Net remeasurement of ECL allowance
38
(10)
182
(6)
204
Write-offs
\u2014
\u2014
(113)
(1)
(114)
Derecognised due to disposals
(44)
(12)
(228)
(2)
(286)
Exchange translation adjustments
(5)
(3)
(5)
\u2014
(13)
Other movements
\u2014
\u2014
3
5
8
At 31 December
173
499
487
(16)
1,143
2024
Stage 1
Stage 2
Stage 3
POCI
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At 1 January
254
635
634
(3)
1,520
Transferred from Stage 1 to Stage 2
(79)
277
\u2014
\u2014
198
Transferred from Stage 2 to Stage 1
87
(243)
\u2014
\u2014
(156)
Transferred to Stage 3
\u2014
(108)
190
\u2014
82
Transferred from Stage 3
\u2014
21
(47)
\u2014
(26)
Net remeasurement (within Stage)
(8)
15
75
(10)
72
New loans originated/top-ups
57
\u2014
\u2014
\u2014
57
Redemptions/repayments
(33)
(69)
\u2014
\u2014
(102)
Impact of model changes1
14
53
\u2014
\u2014
67
Impact of overlay changes1
(10)
(12)
(37)
\u2014
(59)
Impact of credit or economic risk parameters
(16)
(17)
(8)
\u2014
(41)
Net remeasurement of ECL allowance
12
(83)
173
(10)
92
Write-offs
\u2014
\u2014
(126)
\u2014
(126)
Derecognised due to disposals
(88)
(29)
(56)
\u2014
(173)
Exchange translation adjustments
7
4
5
\u2014
16
Other movements
(1)
(3)
18
1
15
At 31 December
184
524
648
(12)
1,344
1. For further clarity, the ECL allowance movements regarding the impact of model and overlay changes have been reported as separate categories for 2025 and 2024 comparatives.
2.1.2 Credit risk \u2013 Credit profile of the loan portfolio continued
Gross loans and ECL movements continued (audited)
Total exposures to which an ECL applies increased during the year by\u00a0
\u20ac1.0 billion from \u20ac71.2 billion at 1 January 2025 to \u20ac72.2 billion at
31\u00a0December 2025. The increase in the year was driven by new loans
originated/top-ups of \u20ac15.9 billion, partially offset by redemptions/
repayments net of interest credited of \u20ac13.2 billion, adverse foreign
exchange movements of \u20ac0.9 billion, and loan disposals including write-
offs of \u20ac0.9 billion.
Stage transfers are a key component of ECL allowance movements (i.e.
Stage 1 to Stage 2 to Stage 3 and vice versa) in addition to the net
remeasurement of ECL due to a change in risk parameters within a stage.
Excluding the impact of model changes, overlay changes and the updated
macroeconomic scenarios, an ECL charge of \u20ac250 million occurred due
to underlying credit management activity and a slight deterioration in
credit parameters which inform the modelled outcomes. This was
primarily driven by a \u20ac99 million charge for the non-property business
sector which included the credit deterioration of a small number of
borrowers in the fibre/broadband infrastructure sectors. The property and
construction sector also experienced a \u20ac95 million charge which was
driven by the recognition of risk through the modelled outcomes and
offset by a release of PMAs.
The impact of model changes resulted in a net writeback of\u00a0\u20ac17\u00a0million. This
was primarily driven by a \u20ac47 million writeback due to the redeveloped
corporate LGD models deployed and partially offset by a \u20ac31 million charge
due to the deployment of the recalibrated investment property model.
The impact of overlay changes resulted in a net charge of\u00a0\u20ac31\u00a0million. New
PMAs in the year of \u20ac40 million relating to the C&IC segment and \u20ac26 million
for the unsecured Stage 3 Retail portfolio were offset by a reduction in
existing PMAs due to the utilisation of PMAs which are now captured in the
modelled outcomes and through portfolio disposals. Further details on
PMAs are outlined on pages 195 and 196. PMAs ensure exposures subject
to risks which are not adequately reflected in the modelled outcomes, retain
an appropriate ECL.
The updated macroeconomic scenarios and weightings resulted in an ECL
release of \u20ac60 million. This ECL movement is presented separately within
\u2018Impact of credit or economic risk parameters\u2019. This release was most
significant within the property and construction (\u20ac28 million) and non-
property business (\u20ac22 million) portfolios. The reduction reflects
improvements in the actual unemployment rates for 2025 in addition to
more favourable revised forecasts for 2026/27.
The gross loan transfers from Stage 1 to Stage 2 of \u20ac6.9 billion are due to
underlying credit management activity where a significant increase in
credit risk occurred during the year through either the quantitative or
qualitative criteria for stage movement. 50% of the movements relied on a
qualitative or backstop indicator of significant increase in credit risk (e.g.
forbearance or movement to a watch grade) with 1% caused solely by the
backstop of 30 days past due. Of the \u20ac6.9 billion which transferred from
Stage 1 to Stage 2 in the year, approximately \u20ac4.4 billion is reported as
Stage 2 at 31 December 2025.
Where a movement to Stage 2 is triggered by multiple drivers
simultaneously, these are reported in the following order: quantitative,
qualitative and backstop.
Similarly, transfers from Stage 2 to Stage 1 of \u20ac5.3 billion represent those
loans where the triggers for significant increase in credit risk no longer
apply or loans that have fulfilled a probation period.
These transfers include loans which have been upgraded through normal
credit management processes and incorporate loans which transferred due
to the impact of the updated macroeconomic scenarios and weightings.
Transfers from Stage 2 to Stage 3 of \u20ac0.8 billion represent those loans that
defaulted during the year. These arose in cases where it was determined
that the customers were unlikely to pay their loans in full without the
realisation of collateral regardless of the existence of any past due
amount or the number of days past due. In addition, transfers also include
all borrowers that are 90 days or more past due on a material obligation.
Of the transfers from Stage 2 to Stage 3, \u20ac0.2 billion had transferred from
Stage 1 to Stage 2 earlier in the year.
Transfers from Stage 3 to Stage 2 of \u20ac0.2 billion were mainly driven by
resolution activity with the customer, through either restructuring or
forbearance previously granted and which subsequently adhered to
default probation requirements. As part of the credit management
practices, active monitoring of loans and their adherence to default
probation requirements is in place.
Movements in off-balance sheet exposures (audited)
The following tables set out the movements in the nominal amount and ECL allowance for loan commitments and financial guarantees by ECL staging
for the year to 31 December 2025 and 2024 :
Nominal amount movements (audited)
2025
Loan commitments
Financial guarantee contracts
Stage 1
Stage 2
Stage 3
POCI
Total
Stage 1
Stage 2
Stage 3
POCI
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At 1 January
15,354
1,379
83
7
16,823
883
79
14
\u2014
976
Transferred from Stage 1 to Stage 2
(832)
832
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Transferred from Stage 2 to Stage 1
632
(632)
\u2014
\u2014
\u2014
221
(221)
\u2014
\u2014
\u2014
Transferred to Stage 3
(57)
(13)
70
\u2014
\u2014
\u2014
(5)
5
\u2014
\u2014
Transferred from Stage 3
3
5
(8)
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Other movements1
418
(197)
(10)
(1)
210
31
199
\u2014
\u2014
230
At 31 December
15,518
1,374
135
6
17,033
1,135
52
19
\u2014
1,206
2024
Loan commitments
Financial guarantee contracts
Stage 1
Stage 2
Stage 3
POCI
Total
Stage 1
Stage 2
Stage 3
POCI
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At 1 January
14,921
1,136
71
8
16,136
790
52
14
1
857
Transferred from Stage 1 to Stage 2
(835)
835
\u2014
\u2014
\u2014
(71)
71
\u2014
\u2014
\u2014
Transferred from Stage 2 to Stage 1
401
(401)
\u2014
\u2014
\u2014
28
(28)
\u2014
\u2014
\u2014
Transferred to Stage 3
(16)
(20)
36
\u2014
\u2014
(2)
\u2014
2
\u2014
\u2014
Transferred from Stage 3
10
8
(18)
\u2014
\u2014
1
\u2014
(1)
\u2014
\u2014
Other movements1
873
(179)
(6)
(1)
687
137
(16)
(1)
(1)
119
At 31 December
15,354
1,379
83
7
16,823
883
79
14
\u2014
976
1. Includes new commitments, utilised and expired commitments.
The internal credit grade profile of loan commitments and financial guarantee contracts is set out in the following table (audited):
2025
2024
\u20ac m
\u20ac m
Strong
10,651
10,858
Satisfactory
6,935
6,435
Criticised watch
452
381
Criticised recovery
46
22
Default
155
103
Total
18,239
17,799
Movements in off-balance sheet exposures continued (audited)
ECL allowance movements (audited)
2025
Loan commitments
Financial guarantee contracts
Stage 1
Stage 2
Stage 3
POCI
Total
Stage 1
Stage 2
Stage 3
POCI
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At 1 January
16
23
4
1
44
1
4
8
\u2014
13
Transferred from Stage 1 to Stage 2
(3)
15
\u2014
\u2014
12
(1)
3
\u2014
\u2014
2
Transferred from Stage 2 to Stage 1
6
(17)
\u2014
\u2014
(11)
\u2014
(2)
\u2014
\u2014
(2)
Transferred to Stage 3
\u2014
(1)
5
\u2014
4
\u2014
(1)
1
\u2014
\u2014
Transferred from Stage 3
\u2014
\u2014
(1)
\u2014
(1)
\u2014
1
(1)
\u2014
\u2014
Net remeasurement
(6)
\u2014
(1)
\u2014
(7)
\u2014
(1)
(4)
\u2014
(5)
Net income statement (credit)/charge
(3)
(3)
3
\u2014
(3)
(1)
\u2014
(4)
\u2014
(5)
Other movements
(1)
\u2014
(1)
(1)
(3)
1
\u2014
1
\u2014
2
At 31 December
12
20
6
\u2014
38
1
4
5
\u2014
10
2024
Loan commitments
Financial guarantee contracts
Stage 1
Stage 2
Stage 3
POCI
Total
Stage 1
Stage 2
Stage 3
POCI
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At 1 January
12
26
4
1
43
2
5
9
\u2014
16
Transferred from Stage 1 to Stage 2
(3)
22
\u2014
\u2014
19
\u2014
5
\u2014
\u2014
5
Transferred from Stage 2 to Stage 1
6
(32)
\u2014
\u2014
(26)
2
(3)
\u2014
\u2014
(1)
Transferred to Stage 3
\u2014
\u2014
2
\u2014
2
\u2014
(1)
2
\u2014
1
Transferred from Stage 3
\u2014
\u2014
(1)
\u2014
(1)
\u2014
1
(1)
\u2014
\u2014
Net remeasurement
\u2014
7
(2)
\u2014
5
(2)
(3)
(2)
\u2014
(7)
Net income statement charge/(credit)
3
(3)
(1)
\u2014
(1)
\u2014
(1)
(1)
\u2014
(2)
Other movements
1
\u2014
1
\u2014
2
(1)
\u2014
\u2014
\u2014
(1)
At 31 December
16
23
4
1
44
1
4
8
\u2014
13
11\u00a0 Net credit impairment charge
The following table analyses the income statement net credit impairment charge on financial instruments for the years to 31 December 2025 and\u00a0 2024.
2025
2024
Net remeasurement of ECL allowance
Measured
at amortised
cost
Measured
at FVOCI
Total
Measured
at amortised
cost
Measured
at FVOCI
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Loans and advances to banks
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Loans and advances to customers
(204)
\u2014
(204)
(92)
\u2014
(92)
Securities financing
1
\u2014
1
\u2014
\u2014
\u2014
Loan commitments
3
\u2014
3
1
\u2014
1
Financial guarantee contracts
5
\u2014
5
2
\u2014
2
Investment securities \u2013 debt
\u2014
(3)
(3)
2
\u2014
2
Net remeasurement of ECL allowance
(195)
(3)
(198)
(87)
\u2014
(87)
Recoveries of amounts previously written-off
26
\u2014
26
32
\u2014
32
Net credit impairment charge
(169)
(3)
(172)
(55)
\u2014
(55)
19\u00a0 ECL allowance on financial assets
The following table shows the movements on the ECL allowance on financial assets. Further information is disclosed in the Gross Loans and ECL
movement tables in the Risk Management section of this report. See pages 205 to 209.
2025
2024
\u20ac m
\u20ac m
At 1 January
1,347
1,525
Net remeasurement of ECL allowance \u2013 investment securities \u2013 debt
\u2014
(2)
Net remeasurement of ECL allowance \u2013 banks
\u2014
\u2014
Net remeasurement of ECL allowance \u2013 customers
204
92
Net remeasurement of ECL allowance \u2013 securities financing
(1)
\u2014
Changes in ECL allowance due to write-offs
(114)
(126)
Changes in ECL allowance due to disposals
(286)
(173)
Exchange translation adjustments
(13)
16
Other
8
15
At 31 December
1,145
1,347
Amount included in financial assets measured at amortised cost:
Investment securities \u2013 debt
1
1
Loans and advances to banks
\u2014
\u2014
Loans and advances to customers
1,143
1,344
Securities financing
\u2014
1
Other assets \u2013 stockbroking client debtors
1
1
At 31 December
1,145
1,347
33\u00a0 Provisions for liabilities and commitments
2025
Legal
claims
Customer
redress
Other
provisions
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At 1 January 2025
23
94
29
146
Charged to income statement
6
2
2
10
1
Released to income statement
(8)
(4)
\u2014
(12)
1
Provisions utilised
(5)
(45)
(4)
(54)
At 31 December 2025
16
47
27
90
2
ECLs on loan commitments and financial guarantees contracts
At 1 January 2025
57
Net writeback to income statement
(8)
3
Disposals
\u2014
Exchange translation adjustments
(1)
At 31 December 2025
48
Total provisions for liabilities and commitments
138
2024
Legal claims
Customer
redress
Other
provisions
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At 1 January 2024
23
82
33
138
Charged to income statement
3
68
7
78
1
Released to income statement
(1)
(16)
(5)
(22)
1
Provisions utilised
(2)
(40)
(6)
(48)
At 31 December 2024
23
94
29
146
2
ECLs on loan commitments and financial guarantees contracts
At 1 January 2024
59
Net writeback to income statement
(3)
3
Disposals
\u2014
Exchange translation adjustments
1
At 31 December 2024
57
Total provisions for liabilities and commitments
203
1. Included in note 10.
2. Amounts expected to be settled within one year are \u20ac51m ( 2024: \u20ac99m). Amounts expected to be settled outside of one year amount to \u20ac39m (31 December 2024: \u20ac47m).
3. Included in note 11.
The ECL allowance on loan commitments and financial guarantee contracts are presented as a provision in the balance sheet (i.e. as a liability under
IFRS 9) and separate from the ECL allowance on financial assets. For details of the geographic concentration of\u00a0contingent liabilities and commitments
and internal credit ratings, see pages 199 and 208 in the Risk Management section of this report.
Legal claims
In the ordinary course of business, legal claims (claims which have resulted in legal cases commencing in the Courts) are frequently served on the
Group. There is always a level of uncertainty with legal claims given the range of potential outcomes. The Group considers many factors, including the
background facts of the legal claim, legal advice and the stage of the legal claim to determine the appropriate provision.
Customer redress
Customer redress relates to remediation payments to customers and associated costs for certain legacy matters such as investment property funds;
the 2020 Financial Services and Pensions Ombudsman decision; and other customer redress provisions. The provision represents the Group\u2019s best
estimate of the costs of remediation of any remaining impacted customers, addressing customer appeals and closing out other related matters. Due to
the complex nature of these legacy matters, they can take some time to resolve and the final outcome may be higher or lower depending on the
finalisation of all associated matters.
Other provisions
Other provisions, which are individually immaterial, include provisions for right-of-use commitments, onerous contracts and other miscellaneous
provisions.", "dimensions": { "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-5": { "value": "
Management and measurement (audited)
The Market Risk Management Framework and policies set out the key
requirements for managing market risk. The key aspects of this are:
\u2022 The Group\u2019s Treasury function is responsible for managing market risk.
Treasury also has a mandate to trade on its own account in selected
wholesale markets with risk tolerances approved on an annual basis
through the Group\u2019s Risk Appetite process;
\u2022 The Group documents its annual Market Risk Strategy to ensure market
risk aligns with the Group\u2019s strategic business plan; and
\u2022 Market risk is managed against a range of Board approved internal
capital limits which cover market risk in the trading book, interest rate
risk and credit spread risk in the banking book. The Board approved
limits are supplemented by a range of Level 2 GRC limits and Level 3
ALCo approved limits which include nominal, sensitivity limits and \u2018stop
loss\u2019 limits.
Market risk is managed and measured using portfolio sensitivities, internal
capital limits Value at Risk (VaR) and stress testing. Interest rate gaps and
sensitivities to various risk factors are measured and reported on a daily
basis. In terms of the VaR metric, the Group calculates a daily historical
simulation VaR to a 95% confidence level, using a one day holding period
and based on one year of historic data. In addition to VaR, Capital at Risk
(CaR) is also measured to a one year1 time horizon, a 99% confidence
level and a longer set of data.
Credit risk issues inherent in the market risk portfolios are also subject to
the Credit Risk Framework that is described in section 2.1.
The Group maintains a Structural Hedging Programme (SHP), subject to
oversight by ALCo. The SHP provides a framework for assessing and re-
balancing the extent of earnings sensitivity (to market rate changes) versus
the economic value (or capital) attributed to IRRBB. Forecast structural
changes in the composition of the balance sheet are a key driver of the
annual SHP strategy. From an IRRBB capital perspective the SHP strategy
seeks to maintain a broadly duration-matched repricing term profile where
term asset positions (typically, interest rate derivatives and fixed rate
mortgages) are offset by stable, non and low interest-bearing liabilities,
principally comprising current accounts and deposits, and equity.
The SHP strategy provides an effective basis for stabilising income over
the medium term and\u00a0 protecting income during periods of falling interest
rates. SHP interest rate derivatives are subject to either cash flow hedging
of floating-rate assets or macro fair value hedging of customer deposits.
Monitoring, escalating and reporting (audited)
On a daily basis front office and risk functions receive a range of valuation,
sensitivity and market risk measurement reports, while ALCo receives a
monthly market risk commentary and summary risk profile. Market risk
exposures are reported to the GRC and BRC on a monthly basis through
the CRO Report.
1. The Capital at Risk on core trading book positions is assessed using a ten day horizon, with the exception of FX which is assessed using a one year horizon.
2.2 Market and equity risk continued
(a) Market risk continued (audited)
The following table sets out financial assets and financial liabilities at 31 December 2025 and 2024 subject to market risk analysed between trading and
non-trading portfolios, showing the principal market risks to which the assets and liabilities are exposed:
2025
(Audited)
Market risk measures
Carrying
amount
Trading
portfolios
Non-trading
portfolios
\u20ac m
\u20ac m
\u20ac m
Risk factors
Assets subject to market risk
Cash and balances at central banks
40,571
\u2014
40,571
Interest rate, foreign exchange
Trading portfolio financial assets
286
286
\u2014
Interest rate, foreign exchange, equity
Derivative financial instruments
1,641
348
1,293
Interest rate, foreign exchange, credit
spreads, equity, inflation rates, wholesale
electricity prices
Loans and advances to banks
601
\u2014
601
Interest rate, foreign exchange
Loans and advances to customers
71,200
\u2014
71,200
Interest rate, foreign exchange
Securities financing
7,339
\u2014
7,339
Interest rate, credit spreads, foreign exchange
Investment securities
21,548
\u2014
21,548
Interest rate, foreign exchange, credit
spreads, equity
Liabilities subject to market risk
Deposits and advances from banks
156
\u2014
156
Interest rate, foreign exchange
Deposits and advances from customers
117,671
\u2014
117,671
Interest rate, foreign exchange
Securities financing
682
\u2014
682
Interest rate, credit spreads, foreign exchange
Trading portfolio financial liabilities
525
525
\u2014
Interest rate, foreign exchange, equity
Derivative financial instruments
1,408
319
1,089
Interest rate, foreign exchange, credit
spreads, equity, inflation rates, wholesale
electricity prices
Debt securities in issue
8,183
\u2014
8,183
Interest rate, credit spreads, foreign exchange
Tier 2 subordinated liabilities and other capital instruments
2,626
\u2014
2,626
Interest rate, credit spreads
2024
(Audited)
Market risk measures
Carrying
amount
Trading
portfolios
Non-trading
portfolios
\u20ac m
\u20ac m
\u20ac m
Risk factors
Assets subject to market risk
Cash and balances at central banks
37,315
\u2014
37,315
Interest rate, foreign exchange
Trading portfolio financial assets
136
136
\u2014
Interest rate, foreign exchange, equity
Derivative financial instruments
2,144
425
1,719
Interest rate, foreign exchange, credit spreads,
equity, inflation rates, wholesale electricity prices
Loans and advances to banks
1,321
\u2014
1,321
Interest rate, foreign exchange
Loans and advances to customers
69,889
\u2014
69,889
Interest rate, foreign exchange
Securities financing
6,643
\u2014
6,643
Interest rate, credit spreads, foreign exchange
Investment securities
18,668
\u2014
18,668
Interest rate, foreign exchange, credit spreads,
equity
Liabilities subject to market risk
Deposits and advances from banks
836
\u2014
836
Interest rate, foreign exchange
Deposits and advances from customers
109,883
\u2014
109,883
Interest rate, foreign exchange
Securities financing
196
\u2014
196
Interest rate, credit spreads, foreign exchange
Trading portfolio financial liabilities
262
262
\u2014
Interest rate, foreign exchange, equity
Derivative financial instruments
1,807
461
1,346
Interest rate, foreign exchange, credit spreads,
equity, inflation rates, wholesale electricity prices
Debt securities in issue
8,832
\u2014
8,832
Interest rate, credit spreads, foreign exchange
Tier 2 subordinated liabilities and other capital instruments
1,627
\u2014
1,627
Interest rate, credit spreads
Interest rate sensitivity (audited)
The table below shows the sensitivity of the Group\u2019s banking book to an immediate and sustained +/- 100 basis point, +/-50 basis point and +/-25\u00a0basis
point movement in interest rates, in terms of the impact on net interest income on a forward looking basis over a 12 month period, assuming no change
in the balance sheet.
Sensitivity of projected net interest income to interest rate movements:
December 2025 (audited)
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
- 100bps
- 50bps
- 25bps
+ 25bps
+ 50bps
+ 100bps
Euro
(307)
(156)
(76)
76
158
317
Sterling
(44)
(21)
(11)
11
22
43
Other (mainly USD)
(27)
(14)
(7)
7
13
27
Total
(378)
(191)
(94)
94
193
387
December 2024 (audited)
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
- 100bps
- 50bps
- 25bps
+ 25bps
+ 50bps
+ 100bps
Euro
(385)
(189)
(93)
80
163
329
Sterling
(37)
(19)
(9)
9
19
37
Other (mainly USD)
(17)
(8)
(4)
4
8
17
Total
(439)
(216)
(106)
93
190
383
Interest rate sensitivity has continued to be a material risk management
priority during 2025, given the evolution in the structural balance sheet,
the falling interest rate environment and the Bank\u2019s structural hedging
objectives. The year-on-year reduction in the reported sensitivity (-100bps
scenario) has been a considered response to the changes in customer
and wholesale volumes, retail rate pass through model dynamics and
relevant regulatory constraints (in the form of Supervisory Outlier Test
thresholds). On the liability side, the strong absolute growth in overall
customer balances continued to reflect the slowdown in deposit balance
migration from interest insensitive to interest-bearing products.\u00a0 On the
asset side, the excess liquidity was absorbed primarily by increases in
customer mortgage lending (with SVR growing faster than fixed rate
products), in wholesale assets (mostly bonds, swapped to floating) and
larger balances held with the CBI. The resulting net increase in structural
sensitivity during 2025 was offset by another material increase in Euro
structural hedging (being a mix of swaps and unhedged fixed rate
mortgages). Given the composition of the balance sheet, and its expected
evolution, the trade\u2011off between managing IRRBB earnings (NII Sensitivity)
and economic value (Capital at Risk) perspectives will continue to be a
priority. The above sensitivity table is computed under the assumption of a
\u2018static\u2019 balance sheet, that all market rates (Risk Free Rates/Euribors/
Swaps,etc) move up/down in parallel and use AIB\u2019s internal retail rate
pass through models, the nature of which can give risk to the asymmetry
evident in the delta between the 2024 and 2025 results.
Group interest rate and foreign exchange rate VaR are calculated to a
95% confidence level with a one day holding period, and equity VaR is
calculated to a 99% confidence level with a one day holding period.
At 31 December 2025, interest rate VaR stood at \u20ac13.06 million, foreign
exchange rate VaR at \u20ac0.12 million and equity VaR at \u20ac0.22 million.
The Group recognises the limitations of VaR models, and supplements its
VaR measures with stress tests which draw from a longer set of historical
data and also with sensitivity measures.
", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-6": { "value": "
Management and measurement (audited)
The objective of liquidity management is to ensure that, at all times,
the\u00a0Group holds sufficient funds to meet its contracted and contingent
commitments to customers and counterparties at an economic price. The
ILAAP Framework and supporting Funding and Liquidity Risk Policy set out\u00a0 \u00a0
the key requirements for managing the risk. These include:
\u2022 Adherence to both internal limits and regulatory defined liquidity ratios
including the Liquidity Coverage Ratio (LCR) and the Net Stable Funding
Ratio (NSFR). The LCR is designed to promote short-term resilience of the
Group\u2019s liquidity risk profile by ensuring that it has sufficient high-quality
liquid resources to survive an acute stress scenario lasting for 30 days.
The NSFR has a time horizon of one year and has been developed to
promote a sustainable maturity structure of assets and liabilities;
\u2022 Performing a multi-year projection of the Group\u2019s funding sources,
through the Group\u2019s Funding and Liquidity Plan. The purpose of this
plan is to set out a comprehensive, forward looking liquidity and funding
strategy for the Group, including material subsidiary companies;
\u2022 Assessing the Funding and Liquidity Plan under a range of adverse
scenarios, the outcomes of which should ensure sufficient liquidity to
implement a sustainable strategy, even in a stressed environment;
\u2022 Maintaining a Contingency Funding Plan that identifies and quantifies
actions that are available to the Group in deteriorating liquidity
conditions and to help it emerge from a temporary liquidity crisis as a
credit-worthy institution;
\u2022 Monitoring a further set of triggers and liquidity options outlined in the
Group\u2019s Recovery Plan, which presents the actions available to the
Group to restore viability in the event of extreme stress; and
\u2022 Having an approved liquidity cost-benefit allocation mechanism in place to
attribute funding costs, benefits and risks to the Group\u2019s business lines.
Monitoring, escalating and reporting
The Group liquidity and funding position is reported regularly to the
Finance and Risk functions, ALCo, GRC and BRC. In addition, the ELT
and the Board are briefed on liquidity and funding on an ongoing basis.
On an annual basis, the Board attests to the Group\u2019s liquidity adequacy
via the Liquidity Adequacy Statement as part of the ILAAP. The Group\u2019s
ILAAP encompasses all aspects of liquidity and funding management,
including planning, analysis, stress testing, control, governance, policy
and contingency planning. This document is submitted to the JST and
forms the basis of their supervisory review and evaluation process.
Management of the Group liquidity pool
The Group manages the liquidity pool on a centralised basis and primarily
comprises government guaranteed bonds, balances with central banks
and covered bonds. The composition of the liquidity pool is subject to limits
recommended by the Risk function and approved by the Board.
At 31 December 2025, the Group held \u20ac76,080 million (2024: \u20ac69,063
million) in qualifying liquid assets (QLA)1 of which \u20ac8,807 million (2024:\u00a0 \u00a0
\u20ac7,599 million) was not available due to repurchase, secured loans and
other restrictions.
At 31 December 2025, the Group's available QLA was \u20ac67,273 million
(2024: \u20ac61,464 million). During 2025, the available QLA ranged from
\u20ac59,549 million to \u20ac69,016 million (2024: \u20ac58,359 million to
\u20ac63,503\u00a0million) and the average balance was \u20ac63,831 million\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
(2024:\u00a0\u20ac60,513 million).
The Group\u2019s available QLA increased in 2025 by \u20ac5,809 million, which was
predominantly due to an increase in customer deposits in Ireland, debt
market issuance offset by an increase in customer loans, debt market
buybacks, contractual debt maturities, dividend payouts and an increase
in securities financing activities where cash was exchanged for non-QLA
eligible collateral.
1. QLA are assets that can be readily converted into cash, either with the market or with the
monetary authorities, and where there is no\u00a0legal, operational or prudential impediments to
their use as liquid\u00a0assets.
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Other contingent liquidity
The Group has access to other unencumbered assets, providing a source
of contingent liquidity, which are not in the Group\u2019s liquidity pool.
However, these assets may be monetised in a stress scenario to generate
liquidity through use as collateral for secured funding or outright sale.
Liquidity stress testing
Liquidity stress testing is a key component of the ILAAP Framework. The
purpose of these tests is to ensure the continued stability of the Group\u2019s
liquidity position within the Group\u2019s pre-defined liquidity risk tolerance
levels. The Group undertakes liquidity stress testing that includes both
firm-specific and systemic risk events and a combination of both as a key
liquidity control. Stressed assumptions are applied to the Group\u2019s liquidity
buffer and liquidity risk drivers. This estimates the potential impact of a
range of stress scenarios on the Group\u2019s liquidity position. Actions and
strategies available to mitigate the impacts of the stress scenarios are
evaluated as to their appropriateness. Liquidity stress test results are
reported to the ALCo, ELT and Board.
Funding structure (audited)
The Group\u2019s funding strategy is to deliver a sustainable, diversified and
robust customer deposit base at economic pricing and to further enhance
and strengthen the wholesale funding franchise, with appropriate access
to term markets to support core lending activities. The strategy aims to
deliver a solid funding structure that complies with internal and regulatory
policy requirements and reduces the probability of a liquidity stress, i.e.
an inability to meet funding obligations as they fall due.
Deposits and advances from customers represent the largest source of
funding for the Group, with the core retail franchises and accompanying
deposit base in both Ireland and the UK providing a stable and reasonably
predictable source of funds.
Deposits and advances from
2025
2024
customers (audited)
\u20ac m
\u20ac m
Total
117,671
109,883
Of which:
Euro
106,361
98,270
Sterling
9,631
9,754
US Dollar
1,418
1,624
Other currencies
261
235
Deposits and advances from customers increased by \u20ac7,788 million in
2025, driven by higher personal and SME balances. This was
predominantly reflected in higher Euro deposit products (time deposits,
current\u00a0 accounts and demand deposits), offset by a decrease in Group
significant currencies (GBP and USD). There was a \u20ac329 million decrease
in the Euro equivalent of GBP and USD deposits. This was mainly due to
negative currency movements of\u00a0 \u20ac690 million offset by an underlying
\u20ac361 million increase on a constant currency basis.
Composition of wholesale funding1 (audited)
The Group maintains access to a variety of sources of wholesale funding, including bank deposits, securities financing, debt securities and subordinated
debt. At 31 December 2025, total wholesale funding outstanding was \u20ac11,647 million (2024: \u20ac11,491 million), of which \u20ac1,720 million is due to mature
in less than one year (2024: \u20ac2,366 million).
(Audited)
2025
< 1
month
\u20ac m
1\u20133
months
\u20ac m
3\u20136
months\u00a0 \u20ac
m
6\u201312
months\u00a0 \u20ac
m
Total
< 1 year
\u20ac m
1\u20133
years
\u20ac m
3\u20135 years
\u20ac m
> 5
years
\u20ac m
Total
\u20ac m
Deposits and advances from banks
156
\u2014
\u2014
\u2014
156
\u2014
\u2014
\u2014
156
Securities financing
324
358
\u2014
\u2014
682
\u2014
\u2014
\u2014
682
Debt securities in issue:
Senior debt
\u2014
\u2014
\u2014
\u2014
\u2014
1,720
2,382
3,065
7,167
ACS
1
\u2014
\u2014
5
6
20
\u2014
\u2014
26
Credit linked notes
\u2014
\u2014
\u2014
\u2014
\u2014
66
\u2014
48
114
Commercial paper
108
676
67
25
876
\u2014
\u2014
\u2014
876
Tier 2 subordinated liabilities and
other\u00a0capital\u00a0instruments
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
2,626
2,626
Total 31 December
589
1,034
67
30
1,720
1,806
2,382
5,739
11,647
Of which:
Secured
325
358
\u2014
5
688
86
\u2014
48
822
Unsecured
264
676
67
25
1,032
1,720
2,382
5,691
10,825
589
1,034
67
30
1,720
1,806
2,382
5,739
11,647
1. The maturity analysis has been prepared using the residual contractual maturity of the liabilities.
2.3 Liquidity and funding risk continued
Composition of wholesale funding1 continued (audited)
(Audited)
2024
< 1 month
\u20ac m
1\u20133
months
\u20ac m
3\u20136
months
\u20ac m
6\u201312
months
\u20ac m
Total
< 1 year
\u20ac m
1\u20133
years
\u20ac m
3\u20135
years
\u20ac m
> 5
years
\u20ac m
Total
\u20ac m
Deposits and advances from banks
830
\u2014
6
\u2014
836
\u2014
\u2014
\u2014
836
Securities financing
184
12
\u2014
\u2014
196
\u2014
\u2014
\u2014
196
Debt securities in issue:
Senior debt
\u2014
\u2014
\u2014
495
495
2,183
3,461
1,734
7,873
ACS
2
\u2014
\u2014
\u2014
2
\u2014
5
20
27
Credit linked notes
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
95
95
Commercial paper
539
230
68
\u2014
837
\u2014
\u2014
\u2014
837
Tier 2 subordinated liabilities and
other\u00a0capital\u00a0instruments
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
1,627
1,627
Total 31 December
1,555
242
74
495
2,366
2,183
3,466
3,476
11,491
Of which:
Secured
186
12
6
\u2014
204
\u2014
5
115
324
Unsecured
1,369
230
68
495
2,162
2,183
3,461
3,361
11,167
1,555
242
74
495
2,366
2,183
3,466
3,476
11,491
1. The maturity analysis has been prepared using the residual contractual maturity of the liabilities.
Deposits and advances from banks decreased by \u20ac680 million to\u00a0\u20ac156
million, primarily driven by a reduction in cash collateral received from
derivative and repurchase agreement counterparties. For further details,
see note 27 to the consolidated financial statements. Securities Financing
increased by \u20ac486 million to \u20ac682 million, reflective of a increase in
standard bilateral bank repo activity (see the currency split in the
'Currency composition of wholesale funding' table).
During 2025, senior debt decreased \u20ac706 million to \u20ac7,167 million,
primarily reflecting \u20ac770 million in early redemptions and \u20ac1,149 million in
contractual maturities, offset by\u00a0 \u20ac1,475 million in MREL bond issuance.
Over the twelve months to 31 December 2025, there was a net \u20ac39 million
increase in commercial paper to \u20ac876 million, whilst outstanding
externally held asset-covered securities (ACS) remained broadly flat at
\u20ac26 million. For further details, see\u00a0note 29 to the consolidated financial
statements. Subordinated liabilities increased \u20ac999 million to \u20ac2,626
million, driven by a \u20ac1 billion green Tier 2 capital issuance.
Financial assets and financial liabilities by contractual residual maturity (audited)
The following table analyses financial assets and financial liabilities by contractual residual maturity at 31 December 2025 and 2024:
(Audited)
2025
On demand
<3 months
but not on
demand
3 months to
1 year
1\u20135 years
Over 5 years
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Financial assets
Cash and balances at central banks
40,571
\u2014
\u2014
\u2014
\u2014
40,571
Trading portfolio financial assets
\u2014
10
34
78
164
286
Derivative financial instruments1
\u2014
42
116
626
857
1,641
Loans and advances to banks2
554
47
\u2014
\u2014
\u2014
601
Loans and advances to customers2
1,814
1,316
3,065
21,545
44,603
72,343
Securities financing
246
2,246
2,328
2,519
\u2014
7,339
Investment securities3
\u2014
562
1,177
7,917
11,588
21,244
Other financial assets
\u2014
1,012
\u2014
\u2014
26
1,038
43,185
5,235
6,720
32,685
57,238
145,063
Financial liabilities4
Deposits and advances from banks
22
134
\u2014
\u2014
\u2014
156
Deposits and advances from customers
98,913
10,033
6,361
2,360
4
117,671
Securities financing
45
637
\u2014
\u2014
\u2014
682
Trading portfolio financial liabilities
\u2014
3
\u2014
322
200
525
Derivative financial instruments1
\u2014
26
52
572
758
1,408
Debt securities in issue
\u2014
784
92
4,194
3,113
8,183
Tier 2 subordinated liabilities and other capital instruments
\u2014
\u2014
\u2014
\u2014
2,626
2,626
Other financial liabilities
1,632
\u2014
\u2014
29
\u2014
1,661
100,612
11,617
6,505
7,477
6,701
132,912
(Audited)
2024
On demand
<3 months
but not on
demand
3 months
to 1 year
1\u20135 years
Over 5 years
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Financial assets
Cash and balances at central banks
37,315
\u2014
\u2014
\u2014
\u2014
37,315
Trading portfolio financial assets
\u2014
26
\u2014
13
97
136
Derivative financial instruments1
\u2014
16
52
700
1,376
2,144
Loans and advances to banks2
642
679
\u2014
\u2014
\u2014
1,321
Loans and advances to customers2
2,319
1,331
2,950
20,778
43,855
71,233
Securities financing
5
1,610
2,970
2,058
\u2014
6,643
Investment securities3
\u2014
276
603
8,002
9,490
18,371
Other financial assets
\u2014
894
\u2014
\u2014
\u2014
894
40,281
4,832
6,575
31,551
54,818
138,057
Financial liabilities4
Deposits and advances from banks
26
804
6
\u2014
\u2014
836
Deposits and advances from customers
93,977
7,790
4,856
3,230
30
109,883
Securities financing
\u2014
196
\u2014
\u2014
\u2014
196
Trading portfolio financial liabilities
\u2014
5
\u2014
190
67
262
Derivative financial instruments1
\u2014
72
78
538
1,119
1,807
Debt securities in issue
\u2014
769
562
5,649
1,852
8,832
Tier 2 subordinated liabilities and other capital instruments
\u2014
\u2014
\u2014
\u2014
1,627
1,627
Other financial liabilities
1,748
\u2014
\u2014
44
\u2014
1,792
95,751
9,636
5,502
9,651
4,695
125,235
1. Shown by maturity date of contract.
2. Shown gross of expected credit losses.
3. Excluding equity shares.
4. A maturity of lease liabilities is disclosed in note 30.
2.3 Liquidity and funding risk continued
Financial liabilities by undiscounted contractual maturity (audited)
The balances in the table below include the undiscounted cash flows relating to principal and interest on financial liabilities and as such will not agree
directly with the balances on the consolidated financial statements. All derivative financial instruments have been analysed based on their contractual
maturity undiscounted cash flows.
In the daily management of liquidity risk, the Group adjusts the contractual outflows on customer deposits to reflect the inherent stability of these
deposits. Offsetting the liability outflows are cash inflows from the assets on the consolidated financial statements. Additionally, the Group holds a
stock of high-quality liquid assets, which\u00a0are held for the purpose of covering unexpected cash outflows.
The following table analyses, on an undiscounted basis, financial liabilities by remaining contractual maturity at 31 December 2025 and\u00a02024:
(Audited)
2025
On
demand
<3 months
but not on
demand
3 months
to 1 year
1\u20135 years
Over 5
years
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Financial liabilities1
Deposits and advances from banks
22
134
\u2014
\u2014
\u2014
156
Deposits and advances from customers
98,914
10,078
6,481
2,391
5
117,869
Securities financing
45
640
\u2014
\u2014
\u2014
685
Trading portfolio financial liabilities
\u2014
3
\u2014
322
200
525
Derivative financial instruments
\u2014
163
332
1,375
572
2,442
Debt securities in issue
\u2014
834
373
5,303
3,582
10,092
Tier 2 subordinated liabilities and other capital instruments
\u2014
\u2014
96
501
3,045
3,642
Other financial liabilities
1,632
\u2014
\u2014
29
\u2014
1,661
100,613
11,852
7,282
9,921
7,404
137,072
(Audited)
2024
On demand
<3 months
but not on
demand
3 months to
1 year
1\u20135 years
Over 5
years
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Financial liabilities1
Deposits and advances from banks
26
804
6
\u2014
\u2014
836
Deposits and advances from customers
93,978
7,836
5,006
3,275
31
110,126
Securities financing
\u2014
196
\u2014
\u2014
\u2014
196
Trading portfolio financial liabilities
\u2014
5
\u2014
190
67
262
Derivative financial instruments
\u2014
137
263
472
116
988
Debt securities in issue
\u2014
813
880
6,761
2,232
10,686
Tier 2 subordinated liabilities and other capital instruments
\u2014
\u2014
59
320
1,859
2,238
Other financial liabilities
1,664
\u2014
\u2014
64
\u2014
1,728
95,668
9,791
6,214
11,082
4,305
127,060
1. A maturity of lease liabilities is disclosed in note 30.
2.3 Liquidity and funding risk continued
The undiscounted cash flows potentially payable under guarantees and similar contracts (audited)
The undiscounted cash flows that are potentially payable under guarantees and\u00a0similar contracts, included below within contingent liabilities, are
classified on the basis of the earliest date the facilities can be called. The Group is only called upon to satisfy a guarantee when the guaranteed party
fails to meet their obligations. The Group expects that most guarantees it provides will expire unused. The Group has given commitments to provide
funds to customers under undrawn facilities. The undiscounted cash flows have been classified on the basis of the earliest date that the facility can
be\u00a0drawn. The Group does not expect all facilities to be drawn, and some may lapse before drawdown. For further details, see note 38 to the
consolidated financial statements.\u00a0The following table analyses undiscounted cash flows potentially payable under guarantees and similar contracts\u00a0at
31 December 2025 and 2024:
(Audited)
2025
On demand
<3 months
but not on
demand
3 months to
1 year
1\u20135 years
Over 5 years
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Contingent liabilities
1,206
\u2014
\u2014
\u2014
\u2014
1,206
Commitments
17,033
\u2014
\u2014
\u2014
\u2014
17,033
18,239
\u2014
\u2014
\u2014
\u2014
18,239
(Audited)
2024
On demand
<3 months
but not on
demand
3 months to
1 year
1\u20135 years
Over 5 years
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Contingent liabilities
976
\u2014
\u2014
\u2014
\u2014
976
Commitments
16,823
\u2014
\u2014
\u2014
\u2014
16,823
17,799
\u2014
\u2014
\u2014
\u2014
17,799
", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-7": { "value": "
2.4 Capital adequacy risk (audited )
Capital adequacy risk is the risk that the Group breaches or may breach
regulatory capital ratios and internal targets, measured on a\u00a0forward
looking basis across a range of scenarios, including a\u00a0severe but
plausible\u00a0stress.
Identification and assessment (audited )
An annual MRA is conducted to identify all relevant (current and
anticipated) material risks which are then assessed from a capital
perspective. The sub risks are identified as part of the MRA process
including risks surrounding the quality and composition of capital as well
as measurement and forecasting risk. Capital adequacy risk is primarily
evaluated through the annual financial planning and the Group\u2019s ICAAP
processes where the level of capital required to support growth plans and
meet regulatory requirements is assessed over the three-year planning
horizon. Plans are assessed across a range of scenarios ranging from
base case and moderate downside scenarios to\u00a0a severe but plausible
stress using the Group\u2019s stress testing methodologies.
Monitoring, escalating and reporting (audited)
The Group monitors its capital adequacy on a monthly basis through
a\u00a0capital reporting pack which is presented to senior executives and Board
setting out the evolution of the Group\u2019s capital position. The risk profile,
including performance against risk appetite, is presented to the BRC via
the CRO report which is produced independently by the 2LOD. The
escalation process, as stipulated under the RAS process, is commenced
in the event of a breach of either the RAS watch trigger or limit for any of
the metrics. This ensures Board and Regulator notification, where
appropriate, within approved timeframes.
The output of internal stress tests is reviewed by ALCo and, on an annual
basis, an ICAAP report is produced which is a comprehensive analysis of
the Group\u2019s capital position in base and stress scenarios over a three year
horizon. The ICAAP document is reviewed and approved by the Board and
is submitted to the Joint Supervisory Team, where it forms the basis of
their supervisory review and evaluation\u00a0process.
The objectives of the Group\u2019s capital management policy are to at all times comply with regulatory capital requirements and to ensure that the Group
has sufficient capital to cover the current and future risk inherent in its business and to support its future development
", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-8": { "value": "4826000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:InterestRevenueCalculatedUsingEffectiveInterestMethod", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-9": { "value": "5273000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:InterestRevenueCalculatedUsingEffectiveInterestMethod", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-10": { "value": "103000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:InterestIncomeOnOtherFinancialAssets", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-11": { "value": "103000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:InterestIncomeOnOtherFinancialAssets", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-12": { "value": "4929000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RevenueFromInterest", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-13": { "value": "5376000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RevenueFromInterest", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-14": { "value": "1181000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:InterestExpense", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-15": { "value": "1247000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:InterestExpense", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-16": { "value": "3748000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:InterestRevenueExpense", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-17": { "value": "4129000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:InterestRevenueExpense", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-18": { "value": "831000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:FeeAndCommissionIncome", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-19": { "value": "845000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:FeeAndCommissionIncome", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-20": { "value": "139000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:FeeAndCommissionExpense", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-21": { "value": "164000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:FeeAndCommissionExpense", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-22": { "value": "9000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:TradingIncomeExpense", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-23": { "value": "50000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:TradingIncomeExpense", "entity": 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1\u00a0 Accounting policies
The material accounting policies that the Group applied in the preparation
of these financial statements are set out in this section. The Group, as a
pillar bank with diverse stakeholders, has considered both quantitative
and qualitative factors in its assessment of which accounting policies to
disclose as material.
(a) Reporting entity
AIB Group plc (the \u2018parent company\u2019 or the \u2018Company\u2019) is a company
domiciled in Ireland. The address of the Company\u2019s registered office is
10 Molesworth Street, Dublin 2, Ireland. AIB Group plc is registered under
the Companies Act 2014 as a public limited company under the company
number 594283 and is the holding company of the Group.
The consolidated financial statements for the year ended 31 December
2025 include the financial statements of AIB Group plc and its subsidiary
undertakings, collectively referred to as \u2018AIB Group\u2019 or \u2018the Group\u2019, where
appropriate, including certain structured entities and the Group\u2019s interest
in associates/joint ventures using the equity method of accounting and
are prepared to the end of the financial period. The Group is and has been
primarily involved in retail and corporate banking.
A full list of subsidiaries, joint ventures and associated undertakings will
be annexed to the Company\u2019s Annual Return to be filed in the Companies
Registration Office in Ireland.
(b) Statement of compliance
The consolidated financial statements have been prepared in accordance
with International Accounting Standards and International Financial
Reporting Standards (collectively IFRSs) as adopted by the European
Union (EU) and applicable for the financial year ended 31\u00a0December
2025. The consolidated financial statements also comply with those parts
of the Companies Act 2014 and the European Union (Credit Institutions:
Financial Statements) Regulations 2015 applicable to companies
reporting under IFRS, and the Asset Covered Securities Acts 2001 and
2007 and Article 4 of the IAS Regulation. The accounting policies have
been consistently applied by Group entities and are consistent with the
previous year, unless otherwise described.
(c) Basis of preparation
Functional and presentation currency
The financial statements are presented in Euro, which is the functional
currency of the parent company and a significant number of its
subsidiaries, rounded to the nearest million.
Basis of measurement and presentation
The financial statements have been prepared under the historical cost
basis, with the exception of the following assets and liabilities which are
stated at their fair value: derivative financial instruments, financial
instruments at fair value through profit or loss, certain hedged financial
assets and financial liabilities and investment securities at fair value
through other comprehensive income (FVOCI). The carrying values of
recognised assets and liabilities that are hedged items in fair value
hedges, other than portfolio hedges, and otherwise carried at amortised
cost, are adjusted to record changes in fair value attributable to the risks
that are being hedged.
The financial statements comprise the consolidated income statement,
the consolidated statement of comprehensive income, the consolidated
statement of financial position, the consolidated statement of cash flows,
and the consolidated statement of changes in equity together with the
related notes. The financial statements include the information that is
described as being an integral part of the audited financial statements
contained in: (i) Sections 2.1, 2.2, 2.3 and 2.4 of the Risk\u00a0Management
Report as described further on page 177 and (ii)\u00a0the\u00a0Directors'
remuneration section of the Corporate Governance Remuneration
Statement as described further on pages 161 and 162.
Changes in presentation to the financial statements
(i) Cash collateral payable to/receivable from derivative and repurchase
agreement counterparties
The Group places cash collateral with and receives cash collateral from
derivative and repurchase agreement counterparties. In the 2024 financial
statements cash collateral placed and received was presented in the
following line items:
\u2022 Loans and advances to banks;
\u2022 Loans and advances to customers;
\u2022 Deposits by central banks and banks; and
\u2022 Customer accounts.
To ensure a consistent naming convention is applied to the financial
statement line items, that include cash collateral, the Group has
renamed:
\u2022 \u2018Deposits by central banks and banks\u2019 as \u2018Deposits and advances from
banks\u2019; and
\u2022 \u2018Customer accounts\u2019 as \u2018Deposits and advances from customers\u2019.
The Group has also re-presented the notes to the financial statements,
that include cash collateral to consistently disclose cash collateral as a
line item within the note rather than presenting it separately as an \u2018of
which\u2019 amount.\u00a0
(ii) Tier 2 subordinated liabilities and other capital instruments
The Group has renamed \u2018Subordinated liabilities and other capital
instruments\u2019 as \u2018Tier 2 subordinated liabilities and other capital
instruments\u2019 to better describe the nature of subordinated liabilities in this
line item.
(iii) Other notes to the financial statements
The Group has changed the presentation of certain tables in the notes to
the financial statements. For further information refer to \u2018Segmental
information\u2019 (note 3), \u2018Derivative financial instruments\u2019 (note 15) and
\u2018Retirement benefits\u2019 (note 26).
Use of judgements and estimates
The preparation of financial statements requires management to make
judgements, estimates and assumptions that affect the application of
policies and reported amounts of certain assets, liabilities, revenues and
expenses, and disclosures of contingent assets and liabilities. The
estimates and assumptions are based on historical experience and
various other factors that are believed to be reasonable under the
circumstances. Since management\u2019s judgement may involve making
estimates concerning the likelihood of future events, the actual results
could differ from those estimates. The estimates and assumptions are
reviewed on an ongoing basis. Revisions to accounting estimates are
recognised in the period in which the estimate is revised and in any future
period affected. The judgements that have a significant effect on the
consolidated financial statements and estimates with a significant risk of
material adjustment in the next year relate to:
\u2022 Impairment of financial assets;
\u2022 Deferred taxation; and
\u2022 Retirement benefit obligations.
A\u00a0description of these judgements and estimates is set\u00a0out in note 2.
1\u00a0 Accounting policies continued
(c) Basis of preparation continued
Consideration of climate change
In preparing the financial statements, the Directors have considered the
impact of climate change, particularly in the context of the risks identified in
the Sustainability Statement in this Annual Financial Report. There has
been no material impact identified on the financial reporting judgements
and estimates of the Group. In particular, the Directors considered the
impact of climate change in respect of the following areas:
\u2022 Credit risk: The impact of climate risk on management escalation and
reporting of credit risk was considered by the Group. There is currently
no reasonable and supportable information that indicates a material
impact of climate change on expected credit losses (ECL) and the
Group\u2019s approach to individual counterparty risk assessment
adequately captures climate risk where appropriate.
\u2022 Going concern and viability: The assessment of the Group\u2019s going
concern and viability over the next three years did not identify material
climate-related risks, both in terms of our decarbonisation
commitments and the physical risks from climate change. This is set
out in further detail on page 168.\u00a0
\u2022 Provisions and contingent liabilities: The Group\u2019s publicly
announced commitment to reduce absolute Scope 1 greenhouse gas
(GHG) emissions to 34% by 2027 from a 2019 base year and to increase
annual sourcing of renewable electricity to 100% by 2030 from 1% in
2019, are not considered a constructive obligation or a contingent
liability. The timeframe allows opportunities for the Group to evolve its
plans for how the decarbonisation strategy will be met and therefore the
Group should not currently recognise a provision or a contingent liability
in relation to its commitment (i.e. as the Group does not have an
obligation as a result of a past event). IAS 37 Provisions, Contingent
Liabilities and Contingent Assets sets out that it is only those obligations
arising from past events existing independently of an entity's future
actions that are recognised as provisions or disclosed as contingent
liabilities.
\u2022 Impairment of non-financial assets: The Group applies the
requirements of IAS 36 Impairment of Assets in assessing whether
impacted assets are impaired at a reporting date. The Group has a
robust process to identify assets that may be impaired which requires
the identification of all material potential impairment triggers including
identification of climate-related impairment triggers. In\u202faddition, the
Group\u2019s published decarbonisation commitments do not impact the
useful lives of the Group\u2019s impacted assets as the Group proposes to
replace impacted assets as their useful lives expire. The Group\u2019s
impairment charge for 2024 included the impact of the Greener
Branches Refurbishments Programme to improve branch and office
buildings\u2019 energy efficiency.
Going concern
The financial statements for the year ended 31 December 2025 have been
prepared on a going concern basis as the Directors are satisfied, having
considered the risks and uncertainties impacting the Group, that it has the
ability to continue in business for the period of assessment. In making this
assessment, the Directors have considered a wide range of information
relating to present and future conditions. This includes capital forecasts and
internally generated macroeconomic scenarios that take account of
geopolitical risks, the impacts of tariffs, inflation, interest rates and related
impacts on unemployment and property prices. The period of assessment
used by the Directors is at least 12\u00a0months from the date of approval of
these annual financial statements.
(d) Basis of consolidation \u2013 Notes 21 and 39
The consolidated financial statements comprise the financial statements
of\u00a0the Group and its subsidiaries including consolidated structured
entities.
Subsidiary undertakings
Subsidiary undertakings are all entities (including structured entities)
over\u00a0which the group has control. The Group controls an entity where the
Group is exposed to, or has rights to, variable returns from its involvement
with the entity and has the ability to affect those returns through its power
to direct the activities of the entity. Subsidiary undertakings are fully
consolidated from the date on which control is transferred to the Group.
They are derecognised from the date that control ceases.
Inter-company transactions, balances and unrealised gains on
transactions between group companies are eliminated. Unrealised losses
are also eliminated, unless the transaction provides evidence of an
impairment of the transferred asset. Accounting policies of subsidiaries
have been updated where necessary to ensure consistency with the
policies adopted by the Group.
Non-controlling interests in the results and equity of subsidiaries are
shown separately in the consolidated income statement, statement of
comprehensive income, statement of changes in equity and consolidated
statement of financial position respectively.
If the Group loses control over a subsidiary undertaking, it derecognises
the related assets (including goodwill), liabilities, non\u2011controlling interest
and other components of equity, while any resultant gain or loss is
recognised in profit or loss.
Investments accounted for using the equity method
The Group\u2019s investments accounted for using the equity method comprise
its investments in associates and joint ventures.
An associated undertaking is an entity over which the Group has
significant influence, but not control, over the entity\u2019s operating and
financial policy decisions. If the Group holds 20% or more of the voting
power of an entity, it is presumed that the Group has significant influence,
unless it can be clearly demonstrated that this is not the\u00a0case.
A joint venture is a joint arrangement whereby the parties that have joint
control of the arrangement have rights to the net assets of
the\u00a0arrangement.
Under the equity method of accounting, the investments are initially
recognised at cost and adjusted thereafter to recognise the Group\u2019s share
of the post-acquisition profits or losses of the investee in profit or loss,
and the Group\u2019s share of movements in other comprehensive income
of the investee in other comprehensive income. Dividends received or
receivable from associates and joint ventures are recognised as a
reduction in the carrying amount of the investment.
Where the Group\u2019s share of losses in an equity-accounted investment
equals or exceeds its interest in the entity, including any other unsecured
long-term receivables, the Group does not recognise further losses, unless
it has incurred obligations or made payments on behalf of the other entity.
Unrealised gains on transactions between the Group and its associates
and joint ventures are eliminated to the extent of the Group\u2019s interest in
these entities. Unrealised losses are also eliminated unless the
transaction provides evidence of an impairment of the asset transferred.
1\u00a0 Accounting policies continued
(e) Foreign currency translation
Items included in the financial statements of each of the Group\u2019s entities
are measured using their functional currency, being the currency of the
primary economic environment in which the entity operates.
Transactions and balances
Foreign currency transactions are translated into the respective entity\u2019s
functional currency using the exchange rates prevailing at the dates of the
transactions. Monetary assets and liabilities denominated in foreign
currencies are re-translated at the rate prevailing at the period-end.
Foreign exchange gains and losses resulting from the settlement of such
transactions and from the re-translation at period end exchange rates of
monetary assets and liabilities denominated in foreign currencies are
recognised in the income statement.
Exchange differences on equities and similar non-monetary items held at
fair value through profit or loss are reported as part of the fair value gain or
loss. Exchange differences on a financial instruments designated as a
hedge of the net investment in a foreign operation are reported in other
comprehensive income.
Foreign operations
The results and financial position of all Group entities that have
a\u00a0functional currency different from the Euro are translated into Euro
as\u00a0follows:
\u2022 Assets and liabilities including goodwill and fair value adjustments
arising on consolidation of foreign operations are translated at the
closing rate;
\u2022 Income and expenses are translated into Euro at the average rates
of\u00a0exchange during the period where these rates approximate to
the\u00a0foreign exchange rates ruling at the dates of the transactions;
\u2022 Foreign currency translation differences are recognised in other
comprehensive income; and
\u2022 Since 1 January 2004, the Group\u2019s date of transition to IFRS, all such
exchange differences are included in the foreign currency cumulative
translation reserve within shareholders\u2019 equity.
When a foreign operation is disposed of in full, the relevant amount of this
reserve is transferred to the income statement. When a subsidiary is partly
disposed, the relevant proportion of foreign currency translation reserve is
re-attributed to the non-controlling interest. In the case of a partial
disposal, a pro-rata amount of the foreign currency cumulative translation
reserve is transferred to the income statement. A partial disposal is also
considered to have occurred when a formal decision has been made to
wind down an entity and where capital is being repaid but there has not
been a reduction in the Group\u2019s overall percentage holding.
(f) Interest income and expense recognition \u2013 Notes 4 and 5
Effective interest rate
The effective interest rate (EIR) is the rate that exactly discounts the
estimated future cash payments or receipts through the expected life of
the financial instrument to:
\u2022 The gross carrying amount of the financial asset; or
\u2022 The amortised cost of the financial liability.
The application of the method has the effect of recognising income
receivable and expense payable on the instrument evenly in proportion to
the amount outstanding over the period to maturity or repayment.
In\u00a0calculating the effective interest rate for financial instruments, the
Group estimates cash flows (using projections based on its experience of
customers\u2019 behaviour) considering all contractual terms of the financial
instrument but excluding expected credit losses (except, in\u00a0the\u00a0case of
purchased or originated credit impaired (POCI) financial assets where
expected credit losses are included in the calculation of a credit-adjusted
effective interest rate). The calculation takes into account all fees,
including those for any expected early redemption, and points paid or
received between parties to the contract that are an integral part of the
effective interest rate, as well as transaction costs and all other premiums
and discounts.
All costs associated with mortgage incentive schemes are included in the
effective interest rate calculation. Fees and commissions payable to third
parties in connection with lending arrangements, where these are direct
and incremental costs related to the issue of a financial instrument, are
included in interest income as part of the effective interest rate.
Amortised cost and gross carrying amount
The amortised cost of a financial asset or financial liability is the amount
at which the financial asset or financial liability is measured at initial
recognition minus the principal repayments, plus or minus the cumulative
amortisation using the effective interest rate method of any difference
between the initial amount and the maturity amount and, for financial
assets, adjusted for any loss allowance.
The gross carrying amount of a financial asset is the amortised cost before
adjusting for any loss allowance.
Calculation of interest income and interest expense
In calculating interest income and expense, the effective interest rate is
applied to the gross carrying amount of the asset (when the asset is not
credit impaired) or to the amortised cost of the liability.
For financial assets that have become credit impaired subsequent to
initial recognition, interest income is calculated by applying the effective
interest rate to the amortised cost of the financial asset. If the asset is no
longer credit impaired, the calculation of interest income reverts to the
gross basis.
However, for financial assets that were credit impaired on initial
recognition, interest income is calculated by applying the credit adjusted
effective interest rate to the amortised cost of the financial asset. The
calculation of interest income does not revert to a gross basis, even if the
credit risk of the asset improves.
When a financial asset is no longer credit impaired or has been repaid in
full (i.e. cured without financial loss), the Group presents previously
unrecognised interest income as a reversal of credit impairment/recovery
of amounts previously written-off.
Interest income and expense on financial assets and liabilities classified
as\u00a0held for trading or at fair value through profit or loss (FVTPL) is
recognised in \u2018net trading income\u2019 or \u2018net gain on other financial assets
measured at FVTPL\u2019 in the income statement, as applicable.
Presentation
Interest income and expense presented in the consolidated income
statement include:
\u2022 Interest on financial assets and financial liabilities measured at
amortised cost calculated on an effective interest rate basis;
\u2022 Interest on investment debt securities measured at FVOCI calculated
on an effective interest rate basis;
\u2022 Net interest income and expense on qualifying hedge derivatives
designated as cash flow hedges or fair value hedges which are
recognised in interest income or interest expense;
\u2022 Net interest income or expense on derivatives that are held with
hedging intent, but for which hedge accounting is not applied;
\u2022 Interest income and funding costs of trading portfolio financial assets;
\u2022 Interest income and expense on leases and hire purchase contracts; and
\u2022 Interest income on financial assets at FVTPL.
1\u00a0 Accounting policies continued
(g) Fee and commission income \u2013 Note 3
The measurement and timing of recognition of fee and commission
income is based on the core principles of IFRS 15 Revenue from Contracts
with Customers.
Fee and commission income is recognised when the performance
obligation in the contract has been performed, either at a \u2018point in time\u2019 or
\u2018over time\u2019 if the performance obligation is performed over a period of time
unless the income has been included in the effective interest
rate\u00a0calculation.
The Group includes in the transaction price, some or all of an amount of
variable consideration estimated only to the extent that it is highly
probable that a significant reversal in the amount of cumulative revenue
recognised will not occur when the uncertainty associated with the
variable consideration is subsequently resolved.
The majority of the Group\u2019s fee and commission income arises from retail
banking activities. Loan syndication fees are recognised as revenue when
the syndication has been completed and the Group has retained no part
of the loan package for itself or retained a part at the same effective
interest rate as applicable to the other participants.
Customer related foreign exchange is fee income that is derived from
arranging foreign exchange transactions on behalf of customers.
Such\u00a0income is recognised when the individual performance obligation
has been fulfilled.
Portfolio and other management advisory and service fees are recognised
based on the applicable service contracts. Asset management fees
relating to investment funds are recognised over time in line with the
performance obligation. The same principle is applied to the recognition of
income from wealth management, financial planning and custody
services that are continuously provided over an extended period of time.
Commitment fees together with related direct costs, for loan facilities
where drawdown is probable, are deferred and recognised as an
adjustment to the effective interest rate on the loan once drawn.
Commitment fees in relation to facilities where drawdown is not probable
are recognised over the term of the commitment on a straight line basis.
Other lending related fees are recognised over time in line with the
performance obligation except for arrangement fees where it is likely that
the facility will be drawn down, and which are included in the effective
interest rate calculation.
Fee income and fee expenses in respect of services and prepaid credits
for cellular phone and utilities sold to third parties are classified as
customer accounts and payment services and are recognised when the
performance obligation is satisfied.
(h) Employee benefits \u2013 Note 26
Retirement benefit obligations
The Group provides employees with post-retirement benefits mainly in the
form of pensions.
The Group operates a number of retirement benefit schemes including defined
benefit and defined contribution schemes. This includes benefits for some
members accrued from 2007 to 2013 under a hybrid scheme arrangement
that had both defined benefit and defined contribution elements.
Full actuarial valuations of defined benefit schemes are undertaken every
three years and are updated to reflect current conditions at each year end
reporting date.
Scheme assets are measured at fair value determined by using current bid
prices, except for insurance policies acquired as part of a buy-in. If the
policies are qualifying policies under IAS 19 Employee Benefits and if the
timing and amount of payments under the policies exactly match some or
all of the benefits payable under the scheme, then the present value of the
related obligation is determined and is deemed to be the fair value of the
insurance policies to be included in plan assets.
Scheme liabilities are measured on an actuarial basis by estimating the
amount of future benefit that employees have earned for their service in
current and prior periods and discounting that benefit at the market yield on
a high-quality corporate bond of equivalent term and currency to the liability.
The calculation is performed by a qualified actuary using the projected unit
credit method. The difference between the fair value of the scheme assets
and the present value of the defined benefit obligation at the year end
reporting date is recognised in the statement of financial position. Schemes
in surplus are shown as assets and schemes in deficit, together with
unfunded schemes, are shown as liabilities. A surplus is only recognised as
an asset to the extent that it is recoverable through a refund from the scheme
or through reduced contributions in the future. Actuarial gains and losses are
recognised immediately in other comprehensive income.
The cost of providing defined benefit pension schemes to employees,
comprising the net interest on the net defined benefit liability/(asset),
calculated by applying the discount rate to the net defined benefit liability/
(asset) at the start of the annual reporting period, taking into account
contributions and benefit payments during the period, is charged to the
income statement within personnel expenses.
Remeasurements of the net defined benefit liability/(asset), comprising
actuarial gains and losses and the return on scheme assets (excluding
amounts included in net interest on the net defined benefit liability/
(asset)) are recognised in other comprehensive income. Amounts
recognised in other comprehensive income in relation to remeasurements
of the net defined benefit liability/(asset) will not be reclassified to profit or
loss in a subsequent period.
The Group recognises the effect of an amendment to a defined benefit
scheme when the plan amendment occurs, which is when the Group
introduces or withdraws a defined benefit scheme, or changes the
benefits payable under existing defined benefit schemes. A\u00a0curtailment is
recognised when a significant reduction in the number of employees
covered by a defined benefit scheme occurs. A settlement is a transaction
that eliminates all further legal or constructive obligations for part or all of
the benefits provided under a defined benefit scheme. Gains or losses on
plan amendments, curtailments and settlements are recognised in the
income statement.
Changes with regard to benefits payable to retirees which represent a
constructive obligation under IAS 37 Provisions, Contingent Liabilities and
Contingent Assets are accounted for as a past service cost. These are
recognised in the income statement.
The costs of managing the defined benefit scheme assets are deducted
from the return on scheme assets. All costs of running the defined benefit
schemes are recognised in the income statement when they are\u00a0incurred.
The cost of the Group\u2019s defined contribution schemes is charged to the
income statement in the accounting period in which it is incurred. Any
contributions unpaid at the year end reporting date are included as a
liability. The Group has no further obligation under these schemes once
these contributions have been paid.
Short-term employee benefits
Short-term employee benefits, such as salaries and other benefits,
are\u00a0accounted for on an accruals basis over the period during which
employees have provided services. Bonuses are recognised to the extent
that the Group has a legal or constructive obligation to its employees that
can be measured reliably.
1\u00a0 Accounting policies continued
(i) Income tax, including deferred income tax \u2013 Notes 13 and 25
Income tax comprises current and deferred tax. Income tax is recognised in
the income statement except to the extent that it relates to items recognised
in other comprehensive income, in which case it is\u00a0recognised in other
comprehensive income. Income tax relating to items in equity is recognised
directly in equity. However, the income tax consequences of payments on
financial instruments that are classified as equity but treated as liabilities for
tax purposes are recognised in profit or loss if those payments are
distributions of profits previously recognised in profit or loss.
Current tax is the expected tax payable on the taxable income for the year
using tax rates enacted or substantively enacted at the reporting date and
any adjustment to tax payable in respect of previous years.
Deferred income tax is provided on temporary differences between the tax
bases of assets and liabilities and their carrying amounts for financial
reporting purposes that exist at the balance sheet date. Deferred income
tax is determined using tax rates based on legislation enacted or
substantively enacted at the reporting date and is expected to apply when
the deferred tax asset is realised or the deferred tax liability is settled.
Deferred income tax assets are recognised when it is probable that future
taxable profits will be available against which the temporary differences
will be utilised. The deferred tax asset is reviewed at the end of each
reporting period and the carrying amount will reflect the extent that it is
probable that sufficient taxable profits will be available to allow all of the
asset to be recovered.
The tax effects of income tax losses available for carry forward are
recognised as an asset to the extent that it is probable that future taxable
profits will be available against which these losses can be utilised.
Deferred and current tax assets and liabilities are only offset when they
arise in the same tax reporting group and where there is both the legal right
and the intention to settle the current tax assets and liabilities on a net
basis or to realise the asset and settle the liability simultaneously.
The principal temporary differences arise from the depreciation of property,
plant and equipment, revaluation of certain financial assets and financial
liabilities including derivative contracts, provisions for expected credit
losses on financial instruments, provisions for pensions and other post-
retirement benefits, and in relation to acquisitions, on the difference
between the fair values of the net assets acquired and their tax base.
Deferred income tax is provided on temporary differences arising from
investments in subsidiaries and associates, except where the timing of the
reversal of the temporary difference is controlled by the Group and it is
probable that the difference will not reverse in the foreseeable future. In
addition, temporary differences are not provided for assets and liabilities
the initial recognition of which, in a transaction that is not a business
combination, affects neither accounting nor taxable profit.
Income tax payable on profits arising from investments in subsidiaries and
associates, based on the applicable tax law in each jurisdiction, is
recognised as an expense in the period in which the profits arise.
The Group adopted the amendments to IAS 12 International Tax Reform \u2013
Pillar Two Model Rules. The amendments provide a mandatory temporary
exception from the requirement to recognise and disclose deferred taxes
arising from enacted or substantively enacted tax law that implements the
Pillar Two\u00a0model rules. Accordingly, the Group has not recognised any
changes to its deferred tax assets or liabilities in respect of Pillar Two.
(j) Financial assets \u2013 Notes 6, 7, 8, 14, 16, 17, 18, 20, 24 and 41
Recognition and initial measurement
The Group initially recognises financial assets on the trade date, being the
date on which the Group commits to purchase the assets. Loan assets
are recognised when cash is advanced to borrowers. In a situation where
the Group commits to purchase financial assets under a contract which is
not considered a regular-way transaction, the assets to be acquired are
not recognised until the acquisition contract is settled. In this case, the
contract to acquire the financial asset is a derivative that is measured at
FVTPL in the period between the trade date and the settlement date.
Financial assets measured at amortised cost or at fair value through other
comprehensive income (FVOCI) are recognised initially at fair value adjusted
for direct and incremental transaction costs. Financial assets measured at
fair value through profit or loss (FVTPL) are recognised initially at fair value
and transaction costs are taken directly to the income statement.
Derivatives are measured initially at fair value on the date on which the
derivative contract is entered into. The best evidence of the fair value of a
derivative at initial recognition is the transaction price (i.e. the fair value of
the consideration given or received) unless the fair value of that
instrument is evidenced by comparison with other observable current
market transactions in the same instrument (i.e. without modification or
repackaging) or based on a valuation technique whose variables include
only data from observable markets. Profits or losses are only recognised
on the initial recognition of derivatives when there are observable current
market transactions or valuation techniques that are based on observable
market inputs.
Classification and subsequent measurement
On initial recognition, a financial asset is classified and subsequently
measured at amortised cost, FVOCI or FVTPL.
The classification and subsequent measurement of financial assets
depend on:
\u2022 The Group\u2019s business model for managing the asset; and
\u2022 The cash flow characteristics of the asset (for assets in a
\u2018hold\u2011to\u2011collect\u2019 or \u2018hold-to-collect-and-sell\u2019 business model).
Based on these factors, the Group classifies its financial assets into one
of the following categories:
\u2013 Amortised cost
Assets that have not been designated as at FVTPL, and are held within a
\u2018hold-to-collect\u2019 business model whose objective is to hold assets to
collect contractual cash flows; and whose contractual terms give rise on
specified dates to cash flows that are solely payments of principal and
interest (SPPI). The carrying amount of these assets is calculated using the
effective interest rate method and is adjusted on each measurement date
by the expected credit loss allowance for each asset, with movements
recognised in profit or loss.
\u2013 Fair value through other comprehensive income (FVOCI)
Assets that have not been designated as at FVTPL, and are held within a
\u2018hold-to-collect-and-sell\u2019 business model whose objective is achieved by
both collecting contractual cash flows and selling financial assets; and
whose contractual terms give rise on specified dates to cash flows that
are SPPI. Movements in the carrying amount of these assets are taken
through other comprehensive income (OCI), except for the recognition of
credit impairment gains or losses, interest revenue or foreign exchange
gains and losses, which are recognised in profit or loss. When a financial
asset is derecognised, the cumulative gain or loss previously recognised
in OCI is reclassified from equity to profit or loss other than in the case of
equity instruments designated at\u00a0FVOCI.
1\u00a0 Accounting policies continued
(j) Financial assets continued
\u2013 Fair value through profit or loss (FVTPL)
Financial assets that do not meet the criteria for amortised cost or FVOCI are
measured at FVTPL. Gains or losses (excluding interest income or expense)
on such assets are recognised in profit or loss on an ongoing basis.
In addition, the Group may irrevocably designate a financial asset as at
FVTPL that otherwise meets the requirements to be measured at
amortised cost or at FVOCI if doing so eliminates or significantly reduces
an accounting mismatch that would otherwise arise.
Business model assessment
The Group makes an assessment of the objective of the business model
at a portfolio level, as this reflects how portfolios of assets are managed to
achieve a particular objective, rather than management\u2019s intentions for
individual assets.
The assessment considers the following:
\u2022 The strategy for the portfolio as communicated by management;
\u2022 How the performance of the portfolio is evaluated and reported to
senior management;
\u2022 The risks that impact the performance of the business model, and how
those risks are managed;
\u2022 How managers of the business are compensated (i.e. based on fair
value of assets managed or on the contractual cash flows collected);
and
\u2022 The frequency, value and timing of sales in prior periods, reasons for
those sales, and expectations of future sales activity.
Financial assets that are held for trading or managed within a business
model that is evaluated on a fair value basis are measured at FVTPL
because the business objective is neither hold-to-collect contractual cash
flows nor hold-to-collect-and-sell contractual cash flows.
Characteristics of the contractual cash flows
An assessment (SPPI test) is performed on all financial assets at
origination that are held within a \u2018hold-to-collect\u2019 or \u2018hold-to-collect-and-
sell\u2019 business model to determine whether the contractual terms of the
financial assets give rise on specified dates to cash flows that are solely
payments of principal and interest on the principal outstanding. For the
purposes of this assessment, \u2018principal\u2019 is defined as the fair value of the
financial asset at initial recognition. \u2018Interest\u2019 is defined as consideration
for the time value of money, for the credit risk associated with the
principal amount outstanding, for other basic lending risks and costs (i.e.
liquidity, administrative costs) and profit margin.
The SPPI test requires an assessment of the contractual terms and
conditions to determine whether a financial asset contains any terms that
could modify the timing or amount of contractual cash flows of the asset,
to the extent that they could not be described as solely payments of
principal and interest. In making this assessment, the Group considers:
\u2022 Features that modify the time value of money element of interest (e.g.
tenor of the interest rate does not correspond with the frequency within
which it resets);
\u2022 Terms providing for prepayment and extension;
\u2022 Leverage features;
\u2022 Non-recourse features;
\u2022 Contingent events that could change the amount and timing of
cash\u00a0flows;
\u2022 Terms that limit the Group\u2019s claim to cash flows from specified assets;
and
\u2022 Contractually linked instruments.
Contractual terms that introduce exposure to risks or volatility in the
contractual cash flows that are unrelated to a basic lending arrangement
do not give rise to contractual cash flows that are solely payments of
principal and interest on the principal amount outstanding.
Investments in equity instruments
Equity instruments are classified and measured at FVTPL with gains and
losses reflected in profit or loss.
(k) Financial liabilities and equity \u2013 Notes 6, 14, 27, 28, 29, 31, 32 and 41
The Group categorises financial liabilities as at amortised cost or as at FVTPL.
The Group recognises a financial liability when it becomes party to the
contractual provisions of the contract.
Issued financial instruments or their components are classified as
liabilities where the substance of the contractual arrangement results in
the Group having a present obligation to either deliver cash or another
financial asset to the holder, to exchange financial instruments on terms
that are potentially unfavourable or to satisfy the obligation otherwise than
by the exchange of a fixed amount of cash or another financial asset for a
fixed number of equity shares.
Financial liabilities are initially recognised at fair value, being their issue
proceeds (fair value of consideration received), net of transaction costs
incurred. Financial liabilities are subsequently measured at amortised
cost, with any difference between the proceeds net of transaction costs
and the redemption value recognised in the income statement using the
effective interest rate method.
Where financial liabilities are classified as trading they are also initially
recognised at fair value with the related transaction costs taken directly to
the income statement. Gains and losses arising from subsequent changes
in fair value are recognised directly in the income statement within net
trading income.
Issued financial instruments are classified as equity when the Group has
no contractual obligation to transfer cash, or other financial assets, or to
issue a variable number of its own equity instruments. Incremental costs
directly attributable to the issue of equity instruments are shown as a
deduction from the proceeds of issue, net of tax.
On the extinguishment of equity instruments, gains or losses arising are
recognised net of tax directly in the statement of changes in equity.
(l) Leases \u2013 Notes 23 and 30
The Group applies a single recognition and measurement approach for all
leases, except for short-term leases of 12 months or less or leases of low-
value assets (i.e. the value of the underlying asset, when new, is less than
\u20ac5,000/\u00a35,000). The Group recognises lease liabilities that represent the
present value of lease payments to be made over the lease term and right-
of-use assets representing the right to use the underlying assets.
Right-of-use assets
The Group recognises right-of-use assets at the commencement date of
the lease (i.e. the date the underlying asset is available for use). Right-of-
use assets are measured at cost, less any accumulated depreciation and
impairment losses, and adjusted for any remeasurement of lease liabilities.
The cost of right-of-use assets includes the amount of lease liabilities
recognised, initial direct costs incurred, an estimate of any costs to
dismantle and remove the asset at the end of the lease and lease payments
made at or before the commencement date less any lease incentives
received. Right-of-use assets are depreciated on a straight-line basis over
the lease term.
1\u00a0 Accounting policies continued
(l) Leases continued
Lease liabilities
At the commencement date of the lease, the Group recognises lease
liabilities measured at the present value of lease payments to be made
over the lease term. The lease payments include fixed payments (less any
lease incentives receivable), variable lease payments that depend on an
index or a rate, and amounts expected to be paid under residual value
guarantees. The lease payments also include the exercise price of a
purchase option reasonably certain to be exercised by the Group and
payments of penalties for terminating the lease, if the lease term reflects
exercising the option to terminate. Variable lease payments that do not
depend on an index or a rate are recognised as expenses in the period in
which the event or condition that triggers the payment occurs.
(m) Determination of fair value of financial instruments \u2013 Note 42
The fair value of a financial instrument is the price that would be received
to sell an asset or paid to transfer a liability in an orderly transaction
between market participants at the measurement date in the principal
market, or in its absence, the most advantageous market to which the
Group has access at that date. The Group considers the impact of non-
performance risk when valuing its financial liabilities.
Financial instruments are initially recognised at fair value and, with the
exception of financial assets at fair value through profit or loss, the initial
carrying amount is adjusted for direct and incremental transaction costs.
In the normal course of business, the fair value on initial recognition is the
transaction price (fair value of consideration given or received). If the
Group determines that the fair value at initial recognition differs from the
transaction price and the fair value is determined by a quoted price in an
active market for the same financial instrument, or by a valuation
technique which uses only observable market inputs, the difference
between the fair value at initial recognition and the transaction price is
recognised as a gain or loss. If the fair value is calculated by a valuation
technique that features significant market inputs that are not observable,
the difference between the fair value at initial recognition and the
transaction price is deferred. Subsequently, the difference is recognised in
the income statement on an appropriate basis over the life of the financial
instrument, but no later than when the valuation is supported by wholly
observable inputs; the transaction matures; or is closed\u00a0out.
Subsequent to initial recognition, the methods used to determine the fair
value of financial instruments include quoted prices in active markets where
those prices are considered to represent actual and regularly occurring
market transactions. Where quoted prices are not available or are unreliable
because of market inactivity, and in the case of over-the-counter
derivatives, fair values are determined using valuation techniques.
The fair values of financial instruments are classified according to the
following fair value hierarchy that reflects the observability of significant
market inputs:
Level 1 \u2013 financial assets and liabilities measured using quoted market
prices from an active market (unadjusted);
Level 2 \u2013 financial assets and liabilities measured using valuation
techniques which use quoted market prices from an active market or
measured using quoted market prices unadjusted from an inactive
market; and
Level 3 \u2013 financial assets and liabilities measured using valuation
techniques which use unobservable market inputs.
Quoted prices in active markets
Valuations for negotiable instruments such as debt and equity securities
are determined using bid prices for asset positions and ask prices for
liability positions.
Where securities are traded on an exchange, the fair value is based on
prices from the exchange. The market for debt securities largely operates
on an \u2018over-the-counter\u2019 basis which means that there is not an official
clearing or exchange price for these security instruments. Therefore,
market makers and/or investment banks (contributors) publish bid and
ask levels which reflect an indicative price that they are prepared to buy
and sell a\u00a0particular security. The Group\u2019s valuation policy requires that
the prices used in determining the fair value of securities quoted in active
markets must be sourced from established market makers and/or
investment banks.
Valuation techniques
Valuation techniques maximise the use of relevant observable inputs and
minimise the use of unobservable inputs. The valuation techniques used
incorporate the factors that market participants would take into account
in pricing a transaction. Valuation techniques include the use of recent
orderly transactions between market participants, reference to other
similar instruments, option pricing models, discounted cash flow analysis
and other valuation techniques commonly used by market participants.
Fair value may be estimated using quoted market prices for similar
instruments, adjusted for differences between the quoted instrument and
the instrument being valued. Where the fair value is calculated using
discounted cash flow analysis, the methodology is to use, to the greatest
extent possible, market data that is either directly observable or is implied
from instrument prices, such as interest rate yield curves, equities and
commodities prices, credit spreads, option volatilities and currency rates.
In addition, the Group considers the impact of its own credit risk and
counterparty risk when valuing its derivative liabilities.
The valuation methodology is to calculate the expected cash flows under
the terms of each specific contract and then discount these values back
to a present value. The assumptions involved in these valuation
techniques include:
\u2022 The likelihood and expected timing of future cash flows of the
instrument. These cash flows are generally governed by the terms of the
instrument, although management judgement may be required when
the ability of the counterparty to service the instrument in accordance
with the contractual terms is in doubt. In addition, future cash flows
may also be sensitive to the occurrence of future events, including
changes in market rates; and
\u2022 Selecting an appropriate discount rate for the instrument, based on the
interest rate yield curves including the determination of an appropriate
spread for the instrument over the risk-free rate. The spread is adjusted
to take into account the specific credit risk profile of the exposure.
All adjustments in the calculation of the present value of future cash flows
are based on factors market participants would take into account in
pricing the financial instrument. Certain financial instruments
(both\u00a0assets and liabilities) may be valued on the basis of valuation
techniques that feature one or more significant market inputs that are not
observable. When applying a valuation technique with unobservable data,
estimates are made to reflect uncertainties in fair values resulting from a
lack of market data, for example, as a result of illiquidity in the market. For
these instruments, the fair value measurement is less reliable. Inputs into
valuations based on non-observable data are inherently uncertain
because there is little or no current market data available from which to
determine the price at which an orderly transaction between market
participants would occur under current market conditions. However, in
most cases there is some market data available on which to base a
determination of fair value, for example historical data, and the fair values
of most financial instruments will be based on some market observable
inputs even where the non-observable inputs are significant. All
unobservable inputs used in valuation techniques reflect the assumptions
market participants would use when fair valuing the financial instrument.
1\u00a0 Accounting policies continued
(m) Determination of fair value of financial instruments continued
The Group tests the outputs of the valuation model to ensure that it
reflects current market conditions. The calculation of fair value for any
financial instrument may require adjustment of the quoted price or the
valuation technique output to reflect the cost of credit risk and the
liquidity of the market, if market participants would include one, where
these are not embedded in underlying valuation techniques or prices
used. The choice of contributors, the quality of market data used for
pricing and the valuation techniques used are all subject to internal review
and approval procedures.
(n) Securities financing \u2013 Notes 18 and 40
When securities are purchased subject to a commitment to resell (reverse
repurchase agreement), or where the Group borrows securities, but does
not acquire the risks and rewards of ownership, the transactions are
treated as collateralised loans, and the securities are not usually included
in the statement of financial position. The exception to this is where these
are sold to third parties, at which point the obligation to repurchase the
securities is recorded as a trading liability at fair value and any subsequent
gain or loss included in trading income.
Similarly, financial assets may be lent or sold subject to a commitment to
repurchase them (repurchase agreement). Such securities are retained on
the statement of financial position when substantially all the risks and
rewards of ownership remain with the Group. The liability to the
counterparty is included separately on the statement of financial position.
The difference between the sale and repurchase price for securities
financing transactions is accrued over the life of the agreements using the
effective interest rate method.
(o) Derivatives and hedge accounting \u2013 Note 15
Derivatives, such as interest rate swaps, options and forward rate
agreements, futures, currency swaps and options, credit and equity
derivatives are used for trading purposes whereas interest rate swaps,
currency swaps, cross currency interest rate swaps and credit derivatives
are used for hedge accounting purposes.
The Group maintains trading positions in a variety of financial instruments
including derivatives. Trading transactions arise both as a result of activity
generated by customers and from proprietary trading with a view to
generating incremental income.
Non-trading derivative transactions comprise transactions held for
hedging purposes as part of the Group\u2019s risk management strategy against
assets, liabilities, positions and cash flows.
Derivatives are measured initially at fair value on the date on which the
derivative contract is entered into and subsequently remeasured at fair
value. Fair values are obtained from quoted market prices in active
markets, including recent market transactions, and from valuation
techniques using discounted cash flow models and option pricing models
as appropriate. Derivatives are included in assets when their fair value is
positive, and in liabilities when their fair value is negative, unless there is
the legal ability and intention to settle an asset and liability on a net basis.
The best evidence of the fair value of a derivative at initial recognition is the
transaction price (i.e. the fair value of the consideration given or received)
unless the fair value of that instrument is evidenced by comparison with
other observable current market transactions in the same instrument (i.e.
without modification or repackaging) or based on a valuation technique
whose variables include only data from observable markets.
Profits or losses are only recognised on initial recognition of derivatives
when there are observable current market transactions or valuation
techniques that are based on observable market inputs.
Hedging
The Group avails of the hedge accounting requirements of IAS 39
Financial Instruments: Recognition and Measurement (IAS 39) as adopted
by the EU, until Dynamic Risk Management is addressed by the IASB, as
permitted as an accounting policy choice under IFRS 9 Financial
Instruments (IFRS 9).
All derivatives are carried at fair value and the accounting treatment of the
resulting fair value gain or loss depends on whether the derivative is
designated as a hedging instrument, and if so, the nature of the item being
hedged. Where derivatives are held for risk management purposes, and
where transactions meet the criteria specified in IAS 39, the Group
designates certain derivatives as either:
\u2022 Hedges of the fair value of recognised assets or liabilities or firm
commitments (fair value hedge); or
\u2022 Hedges of the exposure to variability of cash flows attributable to a
recognised asset or liability, or a highly probable forecasted transaction
(cash flow hedge); or
\u2022 Hedges of a net investment in a foreign operation.
When a financial instrument is designated as a hedge, the Group formally
documents the relationship between the hedging instrument and hedged
item as well as its risk management objectives and its strategy for
undertaking the various hedging transactions. The Group also documents its
assessment, both at hedge inception and on an ongoing basis, of whether
the derivatives that are used in hedging transactions are highly effective in
offsetting changes in fair values or cash flows of the hedged items.
The Group discontinues hedge accounting when:
(a) it is determined that a derivative is not, or has ceased to be, highly
effective as a hedge;
(b) the derivative expires, or is sold, terminated or exercised;
(c) the hedged item matures or is sold or repaid; or
(d) a forecast transaction is no longer deemed highly probable.
To the extent that the changes in the fair value of the hedging derivative
differ from changes in the fair value of the hedged risk in the hedged item,
or the cumulative change in the fair value of the hedging derivative differs
from the cumulative change in the fair value of expected future cash flows
of the hedged item, ineffectiveness arises. The amount of ineffectiveness,
taking into account the timing of the expected cash flows where relevant,
provided that it is not so great as to disqualify the entire hedge for hedge
accounting, is recorded in the income statement.
In certain circumstances, the Group may decide to cease hedge
accounting even though the hedge relationship continues to be highly
effective by no longer designating the financial instrument as a hedge.
Fair value hedge accounting
Changes in fair value of derivatives that qualify and are designated as fair
value hedges are recorded in the income statement, together with
changes in the fair value of the hedged asset or liability that are
attributable to the hedged risk.
For micro fair value hedges, the hedge adjustment is presented as an
adjustment to the carrying amount of the hedged item. For portfolio fair
value hedges, the aggregated fair value changes in the portfolio of hedged
items are recognised in a single separate line item within liabilities when
the hedged portfolio consists of liabilities, or within assets when the
hedged portfolio consists of assets.
If the hedge no longer meets the criteria for hedge accounting, the fair value
hedging adjustment, for items carried at amortised cost, is amortised to
profit or loss using the effective interest rate method over the remaining
maturity of the hedged item for micro hedges, and on a straight-line basis
over the relevant repricing period for portfolio hedges. For debt securities
measured at FVOCI, the fair value adjustment for hedged items is recognised
in the income statement using the effective interest rate method.
1\u00a0 Accounting policies continued
(o) Derivatives and hedge accounting continued
When a hedged item held at amortised cost that is designated in a micro
fair value hedge or included in the repricing time-period of a portfolio
hedge is derecognised, the unamortised fair value adjustment is
recognised immediately in the income statement.
Cash flow hedge accounting
The Group enters into portfolio cash flow hedges. The effective portion of
changes in the fair value of derivatives that are designated and qualify as
cash flow hedges is initially recognised directly in other comprehensive
income and included in the cash flow hedging reserve in the statement
of changes in equity. The amount recognised in other comprehensive
income is reclassed to profit or loss as a reclassification adjustment in the
same period as the hedged cash flows affect profit or loss, and in the
same line item in the statement of comprehensive income. Any ineffective
portion of the gain or loss on the hedging instrument is recognised in the
income statement immediately.
When a hedging instrument expires or is sold, or when a hedge no longer
meets the criteria for hedge accounting, any cumulative gain or loss
recognised in other comprehensive income from the time when the
hedge was effective remains in equity and is reclassified to the income
statement as a reclassification adjustment as the forecast transaction
affects profit or loss. When a forecast transaction is no longer expected
to occur, the cumulative gain or loss that was recognised in other
comprehensive income from the period when the hedge was effective is
reclassified to the income statement.
The cash flow hedging reserves are adjusted to the lower of either the
cumulative gain or loss on the hedging instrument or the cumulative
change in fair value (present value) of the hedged item from inception of
the hedge. The portion that is offset by the change in the cash flow hedging
reserves is recognised in other comprehensive income with any hedge
ineffectiveness recognised in the income statement.
Net investment hedge
Hedges of net investments in foreign operations, including monetary items
that are accounted for as part of the net investment, are accounted for
similarly to cash flow hedges. The effective portion of the gain or loss on
the hedging instrument is recognised in other comprehensive income and
the ineffective portion is recognised immediately in the income statement.
The cumulative gain or loss previously recognised in other comprehensive
income is recognised in the income statement on the disposal or partial
disposal of the foreign operation. Hedges of net investments may include
non-derivative liabilities as well as derivative financial instruments.
Derivatives that do not qualify for hedge accounting
Certain derivative contracts entered into as economic hedges do not
qualify for hedge accounting and are classified as trading derivatives.
Changes in the fair value of these derivative instruments are recognised
immediately in the income statement.
(p) Derecognition
Financial assets
The Group derecognises a financial asset when the contractual rights to
the cash flows from the financial asset expire or it transfers the rights to
receive the contractual cash flows in a transaction in which substantially
all of the risks and rewards of ownership of the financial asset are
transferred or in which the Group neither transfers nor retains
substantially all of the risks and rewards of ownership and it does not
retain control of the financial asset.
On derecognition of a financial asset, the difference between the carrying
amount of the asset and the sum of (i) the consideration received
(including any new asset obtained less any new liability assumed) and (ii)
any cumulative gain or loss that had been recognised in OCI is recognised
in profit or loss. Relevant costs incurred with the disposal of a financial
asset are deducted in computing the gain or loss on disposal.
The Group enters into transactions whereby it transfers assets recognised
on its statement of financial position, but retains either all or substantially
all of the risks and rewards of the transferred assets or a portion of them.
In such cases, the transferred assets are not derecognised. Examples of
such transactions are securities sold under agreements to repurchase.
In transactions in which the Group neither retains nor transfers
substantially all of the risks and rewards of ownership of a financial asset
and it retains control over the asset, the Group continues to recognise the
asset to the extent of its continuing involvement, determined by the extent
to which it is exposed to changes in the value of the transferred asset.
In certain transactions, the Group retains the obligation to service the
transferred financial asset for a fee. The transferred asset is derecognised
if it meets the derecognition criteria. An asset or liability is recognised for
the servicing contract if the servicing fee is more than adequate or is less
than adequate for performing the servicing.
The write-off of a financial asset constitutes a derecognition event. Where
a financial asset is partially written-off, and the portion written-off
comprises specifically identified cash flows, this will constitute a
derecognition event for that part written-off.
Financial liabilities
The Group derecognises a financial liability when its contractual
obligations are discharged, cancelled or expired. Any gain or loss on the
extinguishment or remeasurement of a financial liability is recognised in
profit or loss.
(q) Impairment of financial assets \u2013 Notes 11, 19 and 33
The Group recognises loss allowances for expected credit losses at each
balance sheet date for the following financial instruments that are not
measured at FVTPL:
\u2022 Financial assets at amortised cost;
\u2022 Financial assets at FVOCI (except for equity instruments);
\u2022 Lease receivables;
\u2022 Financial guarantee contracts issued; and
\u2022 Loan commitments issued.
Investments in equity instruments are recognised at fair value and
accordingly, expected credit losses (ECLs) are not recognised separately
for equity instruments.
ECLs are the weighted average of credit losses. When measuring ECLs,
the Group takes into account:
\u2022 Probability weighted outcomes;
\u2022 The time value of money so that ECLs are discounted to the reporting
date; and
\u2022 Reasonable and supportable information that is available without
undue cost or effort at the reporting date about past events, current
conditions and forecasts of future economic conditions.
The amount of ECLs recognised as a loss allowance depends on the
extent of credit deterioration since initial recognition. There are two
measurement bases:
\u2022 12-month ECLs (Stage 1), which applies to all items as long as there is
no significant deterioration in credit quality since initial recognition; and
\u2022 Lifetime ECLs (Stages 2 and 3), which applies when a significant
increase in credit risk has occurred on an individual or collective basis.
The 12-month ECL is the portion of lifetime expected credit losses that
represent the expected credit losses that result from default events on
a\u00a0financial instrument that are possible within the 12 months after the
reporting date. Lifetime ECL is the expected credit losses that result from all
possible default events over the expected life of a financial instrument.
1\u00a0 Accounting policies continued
(q) Impairment of financial assets continued
In the case of Stage 2, credit risk on the financial instrument has increased
significantly since initial recognition but the instrument is not considered
credit impaired. For a financial instrument in Stage 3, credit risk has
increased significantly since initial recognition and the instrument is
considered credit impaired.
Financial assets are allocated to stages dependent on credit quality
relative to when the asset was originated.
A financial asset can only originate in either Stage 1 or as a POCI. The ECL
held against an asset depends on a number of factors, one of which is its
stage allocation. Assets allocated to Stage 2 and Stage 3 have lifetime
ECLs. Collateral and other credit enhancements are not considered as
part of stage allocation. Collateral is reflected in the Group\u2019s loss given
default models (LGD).
Purchased or originated credit impaired
POCI financial assets are those that are credit-impaired on initial
recognition. The Group may originate a credit-impaired financial asset
following a substantial modification of a distressed financial asset that
resulted in derecognition of the original financial asset.
POCIs are financial assets originated credit impaired that have a discount
to the contractual value when measured at fair value. The Group uses an
appropriate discount rate for measuring ECL in the case of POCIs which is
the credit-adjusted EIR. This rate is used to discount the expected cash
flows of such assets to fair value on initial recognition.
POCIs remain outside of the normal stage allocation process for the
lifetime of the obligation. The ECL for POCIs is always measured at
an\u00a0amount equal to lifetime expected credit losses. The amount
recognised as a loss allowance for these assets is the cumulative changes
in lifetime expected credit losses since the initial recognition of\u00a0the assets
rather than the total amount of lifetime expected credit\u00a0losses.
At each reporting date, the Group recognises the amount of the change in
lifetime expected credit losses as a credit impairment gain or loss in the
income statement. Favourable changes in lifetime expected credit losses
are recognised as a credit impairment gain, even if the favourable changes
exceed the amount previously recognised in profit or loss as a credit
impairment loss.
Modification
From time to time, the Group will modify the original terms of a customer\u2019s
loan either as part of the ongoing relationship or arising from changes in
the customer\u2019s circumstances such as when that customer is unable to
make the agreed original contractual repayments. A modification refers to
either:
\u2022 A change to the previous terms and conditions of a debt contract; or
\u2022 A total or partial refinancing of a debt contract.
Modifications may occur for both customers in distress and for those not
in distress. Any financial asset that undergoes a change or renegotiation of
cash flows and is not derecognised is a modified financial asset.
When modification does not result in derecognition, the modified assets
are treated as the same continuous lending agreement and a modification
gain or loss is taken to profit or loss immediately. The gross carrying
amount of the financial asset is recalculated as the present value of the
renegotiated or modified contractual cash flows discounted at the
financial asset\u2019s original effective interest rate. Any costs or fees incurred
adjust the carrying amount of the modified financial asset and are
amortised over the remaining term of the modified financial asset.
The stage allocation for modified assets which are not derecognised is\u00a0by
reference to the credit risk at initial recognition of the original, unmodified
contractual terms, i.e. the date of initial recognition is not\u00a0reset.
Where renegotiation of the terms of a financial asset leads to a\u00a0customer
granting equity to the Group in exchange for any loan balance outstanding,
the new instrument is recognised at fair value with\u00a0any difference to the
loan carrying amount recognised in the income statement.
Derecognition occurs if a modification or restructure is substantial on
a\u00a0qualitative or quantitative basis. Accordingly, certain forborne assets are
derecognised. The modified/restructured asset (derecognised forborne
asset (DFA)) is considered a \u2018new financial instrument\u2019 and\u00a0the date that
the new asset is recognised is the date of initial recognition from this point
forward. DFAs are allocated to Stage 1 on\u00a0origination and follow the
normal staging process thereafter.
If there is evidence of credit impairment at the time of initial recognition
of a DFA, the asset is deemed to be a POCI. POCIs are not allocated to
stages but are assigned a lifetime PD and ECL for the duration of the
obligation\u2019s life. Where the modification/restructure of a non-forborne
credit obligation results in derecognition, the new loan is originated in
Stage 1 and follows the normal staging process thereafter.
Collateralised financial assets \u2013 Repossessions
The ECL calculation for a collateralised financial asset reflects the cash
flows that may result from foreclosure, costs for obtaining and settling the
collateral, and whether or not foreclosure is probable.
For loans that are credit impaired, the Group may repossess collateral
previously pledged as security in order to achieve an orderly realisation of
the loan. The Group will then offer this repossessed collateral for sale.
However, if the Group believes the proceeds of the sale will comprise only
part of the recoverable amount of the loan with the customer remaining
liable for any outstanding balance, the loan continues to be recognised
and\u00a0the repossessed asset is not recognised. However, if the Group
believes that the sale proceeds of the asset will comprise all or
substantially all of the recoverable amount of the loan, the loan is
derecognised and the acquired asset is accounted for in accordance with
the applicable accounting standard. Any further impairment of the
repossessed asset is treated as an impairment of that asset and not as a
credit impairment of\u00a0the original\u00a0loan.
Financial assets at FVOCI
The ECL allowance for financial assets measured at FVOCI does not
reduce the carrying amount in the statement of financial position because
the carrying amount of these assets is fair value. However, an amount
equal to the ECL allowance that would arise if the assets were measured
at amortised cost is recognised in other comprehensive income (OCI) as
an accumulated credit impairment amount, with a corresponding charge
to profit or loss. The accumulated loss recognised in OCI is recycled to the
profit or loss upon derecognition of the assets (together with other
accumulated gains and losses in OCI).
Write-offs and debt forgiveness
The Group reduces the gross carrying amount of a financial asset either
partially or fully when there is no reasonable expectation of\u00a0recovery.
Where there is no formal debt forgiveness agreed with the customer,
the Group may write off a loan either partially or fully when there is no
reasonable expectation of recovery. This is considered a non-contracted
write-off. In this case, the borrower remains fully liable for the credit
obligation and is not advised of the write-off.
Once a financial asset is written-off either partially or fully, the amount
written-off cannot subsequently be recognised on the balance sheet.
It is only when cash is received in relation to the amount written-off that
income is recognised in the income statement as a \u2018recovery of bad debt
previously written-off\u2019.
Debt forgiveness arises where there is a formal contract agreed with the
customer for the write-off of a loan.
1\u00a0 Accounting policies continued
(r) Collateral and netting \u2013 Note 37
The Group enters into master netting agreements with counterparties, to
ensure that if an event of default occurs, all amounts outstanding with
those counterparties will be settled on a net basis.
Collateral
The Group obtains collateral in respect of customer advances where this
is considered appropriate. The collateral normally takes the form of a lien
over the customer\u2019s assets and gives the Group a claim on these assets
for both existing and future customer liabilities. The collateral is, in
general, not recorded on the statement of financial position.
The Group also receives collateral in the form of cash or securities in
respect of other credit instruments, such as securities borrowing
contracts and derivative contracts in order to reduce credit risk. Collateral
received in the form of securities is not recorded on the statement of
financial position. Collateral received in the form of cash is recorded on
the statement of financial position with a corresponding liability.
Therefore, in the case of cash collateral, these amounts are assigned to
deposits received from banks or other counterparties. Any interest
payable or receivable arising is recorded as interest expense or interest
income respectively.
In certain circumstances, the Group will pledge collateral in respect of its
own liabilities or borrowings. Collateral pledged in the form of securities or
loans and advances continues to be recorded on the statement of financial
position. Collateral paid away in the form of cash is recorded in loans and
advances to banks or customers. Any interest payable or receivable arising is
recorded as interest expense or interest income respectively.
Netting
Financial assets and financial liabilities are offset and the net amount
reported on the statement of financial position if, and only if, there is a
currently enforceable legal right to set off the recognised amounts and
there is an intention to settle on a net basis, or to realise the asset and
settle the liability simultaneously. This is not generally the case with
master netting agreements, therefore, the related assets and liabilities are
presented gross on the statement of financial position.
(s) Financial guarantees and loan commitment contracts \u2013 Note 38
Financial guarantees provided by the Group
Financial guarantees are given to banks, financial institutions and other
bodies on behalf of customers to secure loans, overdrafts and other
banking facilities (facility guarantees) and to other parties in connection
with the performance of customers under obligations relating to
contracts, advance payments made by other parties, tenders, retentions
and the payment of import duties. In its normal course of business, Allied
Irish Banks, p.l.c. (the principal operating company) may issue financial
guarantees to other Group entities.
A loan commitment is a contract with a borrower to provide a loan or
credit on specified terms at a future date. The contract may or may not be
cancelled unconditionally at any time without notice depending on the
terms of the contract.
The origination date for financial guarantees and loan commitment
contracts is the date when the contracts become irrevocable. The credit
risk at this date is used to determine if a significant increase in credit risk
has subsequently occurred.
Financial guarantees and loan commitments are initially recognised in\u00a0the
financial statements at fair value on the origination date. Subsequent to
initial recognition, the Group applies the impairment provisions of IFRS 9
and calculates an ECL allowance for financial guarantees and loan
commitment contracts (i.e. those that are not measured at FVTPL).\u00a0
The ECL allowance calculated on financial guarantees and loan
commitment contracts is reported within \u2018Provisions for liabilities
and\u00a0commitments\u2019.
Financial guarantees purchased by the Group
The Group enters into financial guarantee contracts which require the
counterparty to the contract to reimburse the Group for a loss when the
credit risk of the borrower significantly deteriorates. Any associated
reimbursement asset is settled periodically by the Guarantor or when the
Group has issued credit linked notes which include the guarantee it is
settled by reducing the liability associated with the credit linked notes.
(t) Property, plant and equipment \u2013 Note 23
Property, plant and equipment are stated at cost, or deemed cost,
less\u00a0accumulated depreciation and provisions for impairment, if any.
Additions and subsequent expenditures are capitalised only to the extent
that they enhance the future economic benefits expected to be derived
from the asset. No depreciation is provided on freehold land. Property,
plant and equipment are depreciated on a straight line basis over their
estimated useful economic lives. Depreciation is calculated based on the
gross carrying amount, less the estimated residual value at the end of the
assets\u2019 economic lives.
The Group uses the following useful lives when calculating depreciation:
Asset type
Useful life
Freehold buildings and long-leasehold
property
50 years
Short leasehold property
life of lease, up to 50 years
Costs of adaptation of freehold and
leasehold property
Branch properties
up to 10 years1
Office properties
up to 15 years1
Computers and similar equipment
3 \u2013 7 years
Fixtures and fittings and other equipment
5 \u2013 10 years
1. Subject to the maximum remaining life of the lease.
The Group depreciates right-of-use assets arising under lease obligations
from the commencement date of a lease to the earlier of the end of the
useful life of the right-of-use asset and the end of the lease term on a
straight-line basis.
The Group reviews its depreciation rates, at least annually, to take
account of any change in circumstances. When deciding on useful lives
and methods, the principal factors that the Group takes into account are
the expected rate of technological developments and expected market
requirements for, and the expected pattern of usage of, the assets. When
reviewing residual values, the Group estimates the amount that it would
currently obtain for the disposal of the asset, after deducting the
estimated cost of disposal if the asset was already of the age and
condition expected at the end of its useful life.
Gains and losses on disposal of property, plant and equipment are
included in the income statement. It is Group policy not to revalue its
property, plant and equipment.
1\u00a0 Accounting policies continued
(u) Intangible assets \u2013 Note 22
Computer software and other intangible assets
Computer software and other intangible assets are stated at cost,
less\u00a0amortisation on a straight line basis and provisions for impairment, if
any. The identifiable and directly associated external and internal costs of
acquiring and developing software are capitalised where the software is
controlled by the Group, and where it is probable that future economic
benefits that exceed its cost will flow from its use over more than one year.
Costs associated with maintaining software are recognised as an expense
when incurred. Capitalised computer software is amortised over 3 to 9
years. Other intangible assets are amortised over the life of the asset.
Computer software and other intangible assets are reviewed for
impairment when there is an indication that the asset may be impaired.
Intangible assets not yet available for use are reviewed for impairment on
an annual\u00a0basis.
Acquired intangible assets
Customer related intangible assets and brands acquired in a business
combination are recognised at fair value at acquisition date.
Customer related intangible assets and brands have a finite useful life and
are carried at cost less accumulated amortisation and provision for
impairment, if any. Amortisation is calculated using the straight line basis
to allocate the cost over their estimated useful life (6 years).
(v) Non-credit risk provisions \u2013 Note 33
Provisions are recognised for present legal or constructive obligations
arising as consequences of past events where it is probable that a transfer
of economic benefit will be necessary to settle the obligation, and it can
be reliably estimated.
When the effect is material, provisions are determined by discounting
expected future cash flows at a pre-tax rate that reflects current market
assessments of the time value of money and, where appropriate, the risks
specific to the liability. Payments are deducted from the present value of
the provision, and interest at the relevant discount rate is charged
annually to interest expense using the effective interest rate method.
These are reported within \u2018Provisions for liabilities and commitments\u2019 in
the statement of financial position.
(w) Share capital and reserves \u2013 Notes 34, 35, 36 and 49
Share capital
Share capital comprises the ordinary shares of the entity. Share capital
represents funds raised by issuing shares in return for cash or other
consideration.
Dividends and distributions
Final dividends on ordinary shares are recognised as a liability in the
Group\u2019s financial statements in the period in which they are approved by
the shareholders of the Company. Proposed dividends that are declared
after the end of the reporting date are not recognised as a liability, they are
disclosed in note 49.
Other equity interests
Other equity interests comprises Additional Tier 1 Perpetual Contingent
Temporary Write-down Securities (AT1s). Distributions on the AT1s are
recognised in equity when approved for payment by the Board of Directors.
Capital contributions
Capital contributions represent the receipt of non-refundable
considerations arising from transactions with the Irish Government (note
45). These contributions comprise both financial and non-financial net
assets. The contributions are classified as equity and may be either
distributable or non-distributable.
Investment securities reserves
Investment securities reserves represent the net unrealised gain or loss,
net of tax, arising from the recognition in the statement of financial
position of investment securities at FVOCI.
On disposal of equity securities which had been designated at FVOCI on
initial recognition, any amounts held in the investment securities reserves
account is transferred directly to revenue reserves without recycling
through profit or loss.
Cash flow hedging reserves
Cash flow hedging reserves represent the net gains or losses, net of tax,
on effective cash flow hedging instruments that will be reclassified to the
income statement when the hedged transaction affects profit or\u00a0loss.
Revenue reserves
Revenue reserves include the following:
\u2022 Retained earnings of the parent company and its subsidiaries;
\u2022 The Group\u2019s share of its joint venture and associated undertakings
post-acquisition profits or losses;
\u2022 Amounts transferred from issued share capital, share premium,
revaluation reserves and capital redemption reserves following Irish
High Court approval;
\u2022 Amounts arising from the capital reduction which followed the
\u2018Scheme\u00a0of Arrangement\u2019 undertaken by the Group in December 2017;
\u2022 Remeasurements of defined benefit pension schemes; and
\u2022 Transactions with owners including distributions and buybacks.
Merger reserve
The merger reserve arose following the Scheme of Arrangement approved by
the Irish High Court in December 2017 where a new company, AIB\u00a0Group
plc, was introduced as the holding company of AIB Group (note 36).
In the consolidated financial statements of AIB Group plc, the carrying
value of the investment in Allied Irish Banks, p.l.c. by AIB Group plc was
eliminated against the share capital and share premium account in\u00a0Allied
Irish Banks, p.l.c. and the merger reserve in AIB Group plc resulting in
a\u00a0negative merger reserve.
(x) Cash and cash equivalents \u2013 Notes 43 and 44
For the purposes of the cash flow statement, cash comprises cash
on\u00a0hand and demand deposits, and cash equivalents comprise highly
liquid investments that are convertible into cash with an insignificant risk
of changes in value and with a maturity of less than three months from the
date of acquisition.
1\u00a0 Accounting policies continued
(y) Adoption of new accounting standards and amendments to standards
The table below outlines the new standards and amendments to standards that have been adopted by the Group for the year ended 31\u00a0December\u00a02025.
The Group has not early adopted any standard or amendment that has been issued but is not yet effective.\u00a0
Accounting standard update
Effective date
Amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates: Lack\u00a0of
Exchangeability
Annual reporting periods beginning on or after 1 January 2025.
Nature of change
Impact
Clarifies whether a currency is exchangeable into another currency, and which spot
exchange rate to use when it is not.
The amendments had no material impact on the Group\u2019s financial statements.
(z) Prospective accounting changes
The table below outlines the amendments to existing standards which have been approved by the IASB, but not early adopted by the Group, that\u00a0will
impact the Group\u2019s financial reporting in future periods. The Group will consider the impact of these amendments as the situation requires. The
amendments which are most relevant to the Group are as follows:
Accounting standard update
\u2022 Add new disclosures for certain instruments with contractual terms that can
change cash flows (such as some financial instruments with contingent
features); and
\u2022 Update the disclosures for equity instruments designated at FVOCI.
Amendments to IFRS 9 and IFRS 7 Financial Instruments: Disclosures: Classification
and Measurements of Financial Instruments
Nature of change
The amendments:
\u2022 Clarify the date of recognition and derecognition of some financial assets and
liabilities, with a new exception for some financial liabilities settled through an
electronic cash transfer system;
\u2022 Clarify and add further guidance for assessing whether a financial asset meets the
SPPI criterion;
Effective date
Annual reporting periods beginning on or after 1 January 2026 and will apply
retrospectively.
Impact
The amendments are not expected to have an impact on the Group\u2019s financial
statements because the amendments are in line with the Group\u2019s existing
accounting policies and practices.
Accounting standard update
Effective date
Amendments to IFRS 9 and IFRS 7: Nature-dependent Electricity
Annual reporting periods beginning on or after 1 January 2026.
Nature of change
Impact
The amendments:
\u2022 Clarify the application of the \u2018own-use\u2019 requirements for in-scope contracts;
\u2022 Amend the designation requirements for a hedged item in a cash flow hedging
relationship for in-scope contracts; and
\u2022 Add new disclosure requirements.
The amendments are not expected to have a material impact on the Group\u2019s
financial statements.
Accounting standard update
Effective date
Annual Improvements to IFRS \u2013 Volume 11
Annual reporting periods beginning on or after 1 January 2026.
Nature of change
Impact
Limited amendments to IFRS 1 First-time Adoption of International Financial Reporting
Standards, IFRS 7, IFRS 9, IFRS 10 Consolidated Financial Statements and IAS 7
Statement of Cash Flows that either clarify the wording of an IFRS standard or correct
relatively minor unintended consequences, oversights or conflicts between
requirements in the standards.
The amendments are not expected to have a material impact on the Group\u2019s
financial statements.
Accounting standard update
Effective date
IFRS 18 Presentation and Disclosure in Financial Statements
Annual reporting periods beginning on or after 1 January 2027.
Nature of change
Impact
Introduces new requirements to present specified categories and defined subtotals in
the statement of profit or loss, provide disclosures on management-defined
performance measures (MPMs) in the notes to the financial statements.
The Group is currently evaluating the impact that IFRS 18 will have on its financial
statements.
Accounting standard update
Effective date
IFRS 19 Subsidiaries without Public Accountability: Disclosures
When endorsed by the EU it is expected to be effective for annual reporting periods
beginning on or after 1 January 2027.
Nature of change
Optional for certain eligible subsidiaries of parent entities that report under IFRS
Accounting Standards to apply reduced disclosure requirements.
Impact
The Group is not eligible to apply IFRS 19 in its consolidated or company financial
statements.
", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-537": { "value": "
(a) Reporting entity
AIB Group plc (the \u2018parent company\u2019 or the \u2018Company\u2019) is a company
domiciled in Ireland. The address of the Company\u2019s registered office is
10 Molesworth Street, Dublin 2, Ireland. AIB Group plc is registered under
the Companies Act 2014 as a public limited company under the company
number 594283 and is the holding company of the Group.
The consolidated financial statements for the year ended 31 December
2025 include the financial statements of AIB Group plc and its subsidiary
undertakings, collectively referred to as \u2018AIB Group\u2019 or \u2018the Group\u2019, where
appropriate, including certain structured entities and the Group\u2019s interest
in associates/joint ventures using the equity method of accounting and
are prepared to the end of the financial period. The Group is and has been
primarily involved in retail and corporate banking.
A full list of subsidiaries, joint ventures and associated undertakings will
be annexed to the Company\u2019s Annual Return to be filed in the Companies
Registration Office in Ireland.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-538": { "value": "AIB Group plc", "dimensions": { "concept": "ifrs-full:NameOfUltimateParentOfGroup", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-539": { "value": "AIB Group plc", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-540": { "value": "AIB Group plc", "dimensions": { "concept": "ifrs-full:NameOfParentEntity", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-541": { "value": "Ireland", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-542": { "value": "Ireland", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-543": { "value": "10 Molesworth Street, Dublin 2, Ireland", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-544": { "value": "Ireland", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-545": { "value": "public limited company", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-546": { "value": "retail and corporate banking", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-547": { "value": "
(b) Statement of compliance
The consolidated financial statements have been prepared in accordance
with International Accounting Standards and International Financial
Reporting Standards (collectively IFRSs) as adopted by the European
Union (EU) and applicable for the financial year ended 31\u00a0December
2025. The consolidated financial statements also comply with those parts
of the Companies Act 2014 and the European Union (Credit Institutions:
Financial Statements) Regulations 2015 applicable to companies
reporting under IFRS, and the Asset Covered Securities Acts 2001 and
2007 and Article 4 of the IAS Regulation. The accounting policies have
been consistently applied by Group entities and are consistent with the
previous year, unless otherwise described.
", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-548": { "value": "
(c) Basis of preparation
Functional and presentation currency
The financial statements are presented in Euro, which is the functional
currency of the parent company and a significant number of its
subsidiaries, rounded to the nearest million.
Basis of measurement and presentation
The financial statements have been prepared under the historical cost
basis, with the exception of the following assets and liabilities which are
stated at their fair value: derivative financial instruments, financial
instruments at fair value through profit or loss, certain hedged financial
assets and financial liabilities and investment securities at fair value
through other comprehensive income (FVOCI). The carrying values of
recognised assets and liabilities that are hedged items in fair value
hedges, other than portfolio hedges, and otherwise carried at amortised
cost, are adjusted to record changes in fair value attributable to the risks
that are being hedged.
The financial statements comprise the consolidated income statement,
the consolidated statement of comprehensive income, the consolidated
statement of financial position, the consolidated statement of cash flows,
and the consolidated statement of changes in equity together with the
related notes. The financial statements include the information that is
described as being an integral part of the audited financial statements
contained in: (i) Sections 2.1, 2.2, 2.3 and 2.4 of the Risk\u00a0Management
Report as described further on page 177 and (ii)\u00a0the\u00a0Directors'
remuneration section of the Corporate Governance Remuneration
Statement as described further on pages 161 and 162.
Changes in presentation to the financial statements
(i) Cash collateral payable to/receivable from derivative and repurchase
agreement counterparties
The Group places cash collateral with and receives cash collateral from
derivative and repurchase agreement counterparties. In the 2024 financial
statements cash collateral placed and received was presented in the
following line items:
\u2022 Loans and advances to banks;
\u2022 Loans and advances to customers;
\u2022 Deposits by central banks and banks; and
\u2022 Customer accounts.
To ensure a consistent naming convention is applied to the financial
statement line items, that include cash collateral, the Group has
renamed:
\u2022 \u2018Deposits by central banks and banks\u2019 as \u2018Deposits and advances from
banks\u2019; and
\u2022 \u2018Customer accounts\u2019 as \u2018Deposits and advances from customers\u2019.
The Group has also re-presented the notes to the financial statements,
that include cash collateral to consistently disclose cash collateral as a
line item within the note rather than presenting it separately as an \u2018of
which\u2019 amount.\u00a0
(ii) Tier 2 subordinated liabilities and other capital instruments
The Group has renamed \u2018Subordinated liabilities and other capital
instruments\u2019 as \u2018Tier 2 subordinated liabilities and other capital
instruments\u2019 to better describe the nature of subordinated liabilities in this
line item.
(iii) Other notes to the financial statements
The Group has changed the presentation of certain tables in the notes to
the financial statements. For further information refer to \u2018Segmental
information\u2019 (note 3), \u2018Derivative financial instruments\u2019 (note 15) and
\u2018Retirement benefits\u2019 (note 26).
Use of judgements and estimates
The preparation of financial statements requires management to make
judgements, estimates and assumptions that affect the application of
policies and reported amounts of certain assets, liabilities, revenues and
expenses, and disclosures of contingent assets and liabilities. The
estimates and assumptions are based on historical experience and
various other factors that are believed to be reasonable under the
circumstances. Since management\u2019s judgement may involve making
estimates concerning the likelihood of future events, the actual results
could differ from those estimates. The estimates and assumptions are
reviewed on an ongoing basis. Revisions to accounting estimates are
recognised in the period in which the estimate is revised and in any future
period affected. The judgements that have a significant effect on the
consolidated financial statements and estimates with a significant risk of
material adjustment in the next year relate to:
\u2022 Impairment of financial assets;
\u2022 Deferred taxation; and
\u2022 Retirement benefit obligations.
A\u00a0description of these judgements and estimates is set\u00a0out in note 2.
1\u00a0 Accounting policies continued
(c) Basis of preparation continued
Consideration of climate change
In preparing the financial statements, the Directors have considered the
impact of climate change, particularly in the context of the risks identified in
the Sustainability Statement in this Annual Financial Report. There has
been no material impact identified on the financial reporting judgements
and estimates of the Group. In particular, the Directors considered the
impact of climate change in respect of the following areas:
\u2022 Credit risk: The impact of climate risk on management escalation and
reporting of credit risk was considered by the Group. There is currently
no reasonable and supportable information that indicates a material
impact of climate change on expected credit losses (ECL) and the
Group\u2019s approach to individual counterparty risk assessment
adequately captures climate risk where appropriate.
\u2022 Going concern and viability: The assessment of the Group\u2019s going
concern and viability over the next three years did not identify material
climate-related risks, both in terms of our decarbonisation
commitments and the physical risks from climate change. This is set
out in further detail on page 168.\u00a0
\u2022 Provisions and contingent liabilities: The Group\u2019s publicly
announced commitment to reduce absolute Scope 1 greenhouse gas
(GHG) emissions to 34% by 2027 from a 2019 base year and to increase
annual sourcing of renewable electricity to 100% by 2030 from 1% in
2019, are not considered a constructive obligation or a contingent
liability. The timeframe allows opportunities for the Group to evolve its
plans for how the decarbonisation strategy will be met and therefore the
Group should not currently recognise a provision or a contingent liability
in relation to its commitment (i.e. as the Group does not have an
obligation as a result of a past event). IAS 37 Provisions, Contingent
Liabilities and Contingent Assets sets out that it is only those obligations
arising from past events existing independently of an entity's future
actions that are recognised as provisions or disclosed as contingent
liabilities.
\u2022 Impairment of non-financial assets: The Group applies the
requirements of IAS 36 Impairment of Assets in assessing whether
impacted assets are impaired at a reporting date. The Group has a
robust process to identify assets that may be impaired which requires
the identification of all material potential impairment triggers including
identification of climate-related impairment triggers. In\u202faddition, the
Group\u2019s published decarbonisation commitments do not impact the
useful lives of the Group\u2019s impacted assets as the Group proposes to
replace impacted assets as their useful lives expire. The Group\u2019s
impairment charge for 2024 included the impact of the Greener
Branches Refurbishments Programme to improve branch and office
buildings\u2019 energy efficiency.
Going concern
The financial statements for the year ended 31 December 2025 have been
prepared on a going concern basis as the Directors are satisfied, having
considered the risks and uncertainties impacting the Group, that it has the
ability to continue in business for the period of assessment. In making this
assessment, the Directors have considered a wide range of information
relating to present and future conditions. This includes capital forecasts and
internally generated macroeconomic scenarios that take account of
geopolitical risks, the impacts of tariffs, inflation, interest rates and related
impacts on unemployment and property prices. The period of assessment
used by the Directors is at least 12\u00a0months from the date of approval of
these annual financial statements.
(y) Adoption of new accounting standards and amendments to standards
The table below outlines the new standards and amendments to standards that have been adopted by the Group for the year ended 31\u00a0December\u00a02025.
The Group has not early adopted any standard or amendment that has been issued but is not yet effective.\u00a0
Accounting standard update
Effective date
Amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates: Lack\u00a0of
Exchangeability
Annual reporting periods beginning on or after 1 January 2025.
Nature of change
Impact
Clarifies whether a currency is exchangeable into another currency, and which spot
exchange rate to use when it is not.
The amendments had no material impact on the Group\u2019s financial statements.
(z) Prospective accounting changes
The table below outlines the amendments to existing standards which have been approved by the IASB, but not early adopted by the Group, that\u00a0will
impact the Group\u2019s financial reporting in future periods. The Group will consider the impact of these amendments as the situation requires. The
amendments which are most relevant to the Group are as follows:
Accounting standard update
\u2022 Add new disclosures for certain instruments with contractual terms that can
change cash flows (such as some financial instruments with contingent
features); and
\u2022 Update the disclosures for equity instruments designated at FVOCI.
Amendments to IFRS 9 and IFRS 7 Financial Instruments: Disclosures: Classification
and Measurements of Financial Instruments
Nature of change
The amendments:
\u2022 Clarify the date of recognition and derecognition of some financial assets and
liabilities, with a new exception for some financial liabilities settled through an
electronic cash transfer system;
\u2022 Clarify and add further guidance for assessing whether a financial asset meets the
SPPI criterion;
Effective date
Annual reporting periods beginning on or after 1 January 2026 and will apply
retrospectively.
Impact
The amendments are not expected to have an impact on the Group\u2019s financial
statements because the amendments are in line with the Group\u2019s existing
accounting policies and practices.
Accounting standard update
Effective date
Amendments to IFRS 9 and IFRS 7: Nature-dependent Electricity
Annual reporting periods beginning on or after 1 January 2026.
Nature of change
Impact
The amendments:
\u2022 Clarify the application of the \u2018own-use\u2019 requirements for in-scope contracts;
\u2022 Amend the designation requirements for a hedged item in a cash flow hedging
relationship for in-scope contracts; and
\u2022 Add new disclosure requirements.
The amendments are not expected to have a material impact on the Group\u2019s
financial statements.
Accounting standard update
Effective date
Annual Improvements to IFRS \u2013 Volume 11
Annual reporting periods beginning on or after 1 January 2026.
Nature of change
Impact
Limited amendments to IFRS 1 First-time Adoption of International Financial Reporting
Standards, IFRS 7, IFRS 9, IFRS 10 Consolidated Financial Statements and IAS 7
Statement of Cash Flows that either clarify the wording of an IFRS standard or correct
relatively minor unintended consequences, oversights or conflicts between
requirements in the standards.
The amendments are not expected to have a material impact on the Group\u2019s
financial statements.
Accounting standard update
Effective date
IFRS 18 Presentation and Disclosure in Financial Statements
Annual reporting periods beginning on or after 1 January 2027.
Nature of change
Impact
Introduces new requirements to present specified categories and defined subtotals in
the statement of profit or loss, provide disclosures on management-defined
performance measures (MPMs) in the notes to the financial statements.
The Group is currently evaluating the impact that IFRS 18 will have on its financial
statements.
Accounting standard update
Effective date
IFRS 19 Subsidiaries without Public Accountability: Disclosures
When endorsed by the EU it is expected to be effective for annual reporting periods
beginning on or after 1 January 2027.
Nature of change
Optional for certain eligible subsidiaries of parent entities that report under IFRS
Accounting Standards to apply reduced disclosure requirements.
Impact
The Group is not eligible to apply IFRS 19 in its consolidated or company financial
statements.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-549": { "value": "
Functional and presentation currency
The financial statements are presented in Euro, which is the functional
currency of the parent company and a significant number of its
subsidiaries, rounded to the nearest million.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-550": { "value": "
Changes in presentation to the financial statements
(i) Cash collateral payable to/receivable from derivative and repurchase
agreement counterparties
The Group places cash collateral with and receives cash collateral from
derivative and repurchase agreement counterparties. In the 2024 financial
statements cash collateral placed and received was presented in the
following line items:
\u2022 Loans and advances to banks;
\u2022 Loans and advances to customers;
\u2022 Deposits by central banks and banks; and
\u2022 Customer accounts.
To ensure a consistent naming convention is applied to the financial
statement line items, that include cash collateral, the Group has
renamed:
\u2022 \u2018Deposits by central banks and banks\u2019 as \u2018Deposits and advances from
banks\u2019; and
\u2022 \u2018Customer accounts\u2019 as \u2018Deposits and advances from customers\u2019.
The Group has also re-presented the notes to the financial statements,
that include cash collateral to consistently disclose cash collateral as a
line item within the note rather than presenting it separately as an \u2018of
which\u2019 amount.\u00a0
(ii) Tier 2 subordinated liabilities and other capital instruments
The Group has renamed \u2018Subordinated liabilities and other capital
instruments\u2019 as \u2018Tier 2 subordinated liabilities and other capital
instruments\u2019 to better describe the nature of subordinated liabilities in this
line item.
(iii) Other notes to the financial statements
The Group has changed the presentation of certain tables in the notes to
the financial statements. For further information refer to \u2018Segmental
information\u2019 (note 3), \u2018Derivative financial instruments\u2019 (note 15) and
\u2018Retirement benefits\u2019 (note 26).
Change in presentation of net fee and commission income
The Group has introduced new categories of fee income and expense for
2025 to separately identify the nature of those items in the Group's
disclosures. The Group now discloses Customer accounts and payment
services; Wealth and insurance and Investment banking\u00a0 as separate
categories of fee income and fee expense and has re-presented the
comparatives on this basis. For the 2024 comparatives:
\u2022 \u20ac128 million of Specialised payments services (Payzone) income and
\u20ac108 million of Specialised payments services (Payzone) expense were
re-presented as Customer accounts and payment services;
\u2022 \u20ac43 million of Stockbroking client fees and commissions income,
\u20ac39\u00a0million of Other fees and commissions income and \u20ac3 million
of\u00a0Other fees and commissions expense were re-presented as
Wealth\u00a0and insurance; and
\u2022 \u20ac14 million of Stockbroking client fees and commissions income,
\u20ac6\u00a0million of Other fees and commissions income, and \u20ac2 million
of\u00a0Other fees and commissions expense were re-presented as
Investment banking.
The Group has disclosed, by risk category, the profile of the timing of the nominal amount of the hedging
instruments in line with the requirements of IFRS 7. In 2024 additional voluntary disclosures were provided for the cash flows by hedged item. The\u00a0 2024
comparatives have been re-presented to align with the disclosure in 2025.
2025
Up to 1 year
1 to 2 years
2 to 5 years
5 years +
Total
Fair value hedges \u2013 Interest rate risk
Assets
Interest rate swaps \u2013 nominal principal amount (\u20ac m)
1,600
1,844
5,726
9,297
18,467
Average interest rate (%)1
0.77
0.90
1.21
2.29
1.69
Liabilities
Interest rate swaps \u2013 nominal principal amount (\u20ac m)
2,283
4,097
10,121
17,524
34,025
Average interest rate (%)1
1.84
2.41
3.56
2.69
2.86
Total nominal amount of fair value hedges \u2013 Interest rate risk
3,883
5,941
15,847
26,821
52,492
Cash flow hedges \u2013 Interest rate risk
Assets
Interest rate and cross currency swaps \u2013 nominal principal amount (\u20ac m)
7,659
3,161
8,444
14,159
33,423
Average interest rate (%)2
3.27
2.72
1.33
2.67
2.47
Liabilities
Interest rate and cross currency swaps \u2013 nominal principal amount (\u20ac m)
405
239
1,003
252
1,899
Average interest rate (%)2
2.48
2.87
2.93
2.55
2.78
Total nominal amount of cash flow hedges \u2013 Interest rate risk
8,064
3,400
9,447
14,411
35,322
Net investment hedges \u2013 Forward exchange risk
Nominal principal amount (\u20ac m)
1,399
\u2014
\u2014
\u2014
1,399
Forward FX rate (%)3
0.87
\u2014
\u2014
\u2014
0.87
2024
Up to 1 year
1 to 2 years
2 to 5 years
5 years +
Total
Fair value hedges \u2013 Interest rate risk
Assets
Interest rate swaps \u2013 nominal principal amount (\u20ac m)
785
1,617
5,949
7,818
16,169
Average interest rate (%)1
0.94
0.77
1.02
1.86
1.39
Liabilities
Interest rate swaps \u2013 nominal principal amount (\u20ac m)
1,972
1,750
6,083
3,992
13,797
Average interest rate (%)1
4.73
1.86
3.82
4.18
3.80
Total nominal amount of fair value hedges \u2013 Interest rate risk
2,757
3,367
12,032
11,810
29,966
Cash flow hedges \u2013 Interest rate risk
Assets
Interest rate and cross currency swaps \u2013 nominal principal amount (\u20ac m)
4,430
10,627
7,182
17,526
39,765
Average interest rate (%)2
3.06
3.27
1.78
2.34
2.57
Liabilities
Interest rate and cross currency swaps \u2013 nominal principal amount (\u20ac m)
213
459
962
573
2,207
Average interest rate (%)2
2.29
2.39
2.61
2.76
2.57
Total nominal amount of cash flow hedges \u2013 Interest rate risk
4,643
11,086
8,144
18,099
41,972
Net investment hedges \u2013 Forward exchange risk
Nominal principal amount (\u20ac m)
1,231
208
\u2014
\u2014
1,439
Forward FX rate (%)3
0.85
0.87
\u2014
\u2014
0.85
1. Represents the fixed rate on the hedged item which is being swapped for a variable rate.
2. This is the average interest rate on the fixed leg of swap agreements where the variable rate on the assets and liabilities in cash flow hedges is being swapped for a\u00a0fixed rate. Pay fixed cash flow hedges
are used to hedge the cash flows on variable rate liabilities and receive fixed cash flow hedges are used to\u00a0hedge the cash flows on variable rate assets.
3. Being the forward FX rates on the hedging derivatives which are being used to hedge the Group\u2019s net investment in foreign operations.
The Group has disclosed, by risk category, tabular information in
relation to the hedging instrument for fair value hedges in line with the requirements of IFRS 7. In 2024 additional voluntary disclosures were provided in
relation to hedged items. The 2024 comparatives have been re-presented to align with the disclosure in 2025.
2025
Nominal
amount of
hedging
instrument
Carrying amount of
hedging instrument
Change in fair
value used for
calculating
hedge
ineffectiveness
for the year
Hedge
ineffectiveness
recognised in the
income
statement
Assets
Liabilities
Hedging instrument
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Interest rate swaps
52,492
909
(339)
(96)
(9)
2025
Line item in Statement of Financial Position where hedged
item is included
Carrying amount
of hedged item
recognised in
Statement of Financial
Position
Accumulated amount of\u00a0fair
value hedge adjustments on
the hedged item included in
the carrying amount of the
hedged item or presented
separately on the face of the
Statement of Financial
Position
Change in fair
value of hedged
item used for
calculating
hedge
ineffectiveness
for the year
Remaining
adjustments
for
discontinued
hedges
Assets
Liabilities
Assets
Liabilities
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Investment securities
17,871
\u2014
\u2014
(643)
(93)
\u2014
Debt securities in issue
\u2014
(7,197)
\u2014
(37)
(57)
\u2014
Tier 2 subordinated liabilities and other capital instruments
\u2014
(2,625)
25
\u2014
\u2014
\u2014
Deposits and advances from customers
\u2014
(24,209)
175
\u2014
239
\u2014
Loans and advances to customers
15
\u2014
\u2014
(1)
(2)
\u2014
17,886
(34,031)
200
(681)
87
\u2014
2024
Nominal
amount of
hedging
instrument
Carrying amount of
hedging instrument
Change in fair
value used for
calculating
hedge
ineffectiveness for
the year
Hedge
ineffectiveness
recognised in
the income
statement
Assets
Liabilities
Hedging instrument
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Interest rate swaps
29,966
1,055
(363)
(177)
\u2014
2024
Line item in Statement of Financial Position where hedged item
is\u00a0included
Carrying amount
of\u00a0hedged\u00a0item
recognised\u00a0in Statement
of Financial\u00a0Position
Accumulated amount of fair
value hedge adjustments on the
hedged\u00a0item included in
the\u00a0carrying amount of the
hedged item or presented
separately on the face of the
Statement of Financial Position
Change in fair
value of hedged
item used for
calculating\u00a0
hedge
ineffectiveness for
the year
Remaining
adjustments for
discontinued
hedges
Assets
Liabilities
Assets
Liabilities
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Investment securities
15,172
\u2014
\u2014
(555)
373
\u2014
Debt securities in issue
\u2014
(7,900)
18
\u2014
(69)
\u2014
Tier 2 subordinated liabilities and other capital instruments
\u2014
(1,625)
25
\u2014
(63)
\u2014
Deposits and advances from customers
\u2014
(4,225)
\u2014
(64)
(64)
\u2014
Loans and advances to customers
15
\u2014
1
\u2014
\u2014
\u2014
15,187
(13,750)
44
(619)
177
\u2014
The Group has disclosed, by risk category, tabular information
in relation to the hedging instrument for cash flow hedges in line with the requirements of IFRS 7. In 2024 additional voluntary disclosures were provided
in relation to hedged items. The 2024 comparatives have been re-presented to align with the disclosure in 2025.
2025
Carrying amount of the
hedging instrument
Nominal
amount of
the
hedging
instrument
Assets
Liabilities
Change in fair
value of hedging
instrument used
for calculating
hedge
ineffectiveness
in the year
Change in fair
value of
hedging
instrument
recognised in
OCI in the year
Hedge
Ineffectiveness
recognised in
the income
statement
Amounts
reclassified
from the cash
flow hedge
reserve to the
income
statement
Hedging instrument
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Interest rate and cross currency swaps
35,322
371
(746)
(179)
(178)
(1)
(56)
1
2025
Line item in Statement of Financial
Position in which hedged item is included
Change in fair
value of hedged
item used for
calculating hedge
ineffectiveness
for the year
Amounts in the
cash flow
hedging reserves
for continuing
hedges
pre tax
Amounts in the
cash flow hedging
reserves for
continuing hedges
post tax
Amounts remaining
in the cash flow hedging
reserves from any
hedging relationship for
which hedge accounting
is no longer applied
pre tax
Amounts remaining
in the cash flow hedging
reserves from any
hedging relationship for
which hedge accounting
is no longer applied
post tax
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Loans and advances to customers
149
(437)
(351)
12
10
Deposits and advances from customers
29
23
20
\u2014
\u2014
2024
Carrying amount of the
hedging instrument
Hedging instrument
Nominal
amount of the
hedging
instrument
Assets
Liabilities
Change in fair
value of hedging
instrument used
for calculating
hedge
ineffectiveness
in the year
Change in fair
value of the
hedging
instrument
recognised in
OCI
in the year
Hedge
Ineffectiveness
recognised in
the income
statement
Amounts
reclassified
from the cash
flow hedge
reserve to the
income
statement
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Interest rate and cross currency swaps
41,972
664
(959)
167
173
(6)
(569)
1
2024
Line item in Statement of Financial Position in
which hedged item is included
Change in fair
value of hedged
item used for
calculating hedge
ineffectiveness
for the year
Amounts
in the cash
flow hedging
reserves for
continuing hedges
pre tax
Amounts
in the cash
flow hedging
reserves for
continuing
hedges
post tax
Amounts remaining
in the cash flow hedging
reserves from any
hedging relationship for
which hedge accounting
is no longer applied
pre tax
Amounts remaining
in the cash flow hedging
reserves from any
hedging relationship for
which hedge accounting is
no longer applied
post tax
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Loans and advances to customers
(173)
(264)
(189)
25
22
Deposits and advances from customers
\u2014
52
46
\u2014
\u2014
1. Included in the income statement as follows: debit of \u20ac82m (2024: debit of \u20ac618m) in interest and similar income, credit of \u20ac25m (2024: credit of \u20ac49m) in interest and similar expense, and a credit of
\u20ac1m (2024: Nil) in other income/(expense) transferred from other comprehensive income in respect of cash flow hedges.
The Group has disclosed, by risk category, tabular
information in relation to the hedging instrument for hedges of net investment in foreign operations in line with the requirements of IFRS 7. In 2024
additional voluntary disclosures were provided in relation to hedged items. The 2024 comparatives have been re-presented to align with the disclosure
in 2025.
2025
Carrying amount of the
hedging instrument
Hedging Instrument
Nominal
amount of
hedging
instrument
Assets
Liabilities
Change in fair
value of hedging
instrument used
for calculating
hedge
ineffectiveness
in the year
Change in fair
value of hedging
instrument
recognised in
OCI in the year
Hedge
Ineffectiveness
recognised in the
income
statement1
Amounts that have
been transferred
because the
hedged item has
affected the
income statement
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Foreign exchange contracts
1,399
13
(4)
69
69
\u2014
\u2014
1
2025
Line item in
Statement of Financial
Position in which hedged
item is included
Change in fair
value of hedged
item used for
calculating hedge
ineffectiveness
for the year
Amount in the
foreign currency
translation reserves for
continuing hedges
pre tax
Amounts in the foreign
currency translation
reserves for
continuing hedges
post tax
Amounts remaining
in the foreign currency
translation reserves
from any hedging
relationship for which
hedge accounting is no
longer applied
pre tax
Amounts remaining
in the foreign currency
translation reserves from
any hedging relationship for
which hedge
accounting is no
longer applied
post tax
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Reserves2
(69)
(39)
(34)
(8)
(7)
2024
Carrying amount of the hedging
instrument
Hedging Instrument
Nominal
amount of
hedging
instrument
Assets
Liabilities
Change in fair
value of hedging
instrument used
for calculating
hedge
ineffectiveness
in the year
Change in fair
value of
hedging
instruments
recognised in OCI
in the year
Hedge
Ineffectiveness
recognised in
the\u00a0income
statement1
Amounts that have
been transferred
because the
hedged item has
affected the
income statement
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Foreign exchange contracts
1,439
\u2014
(24)
(66)
(66)
\u2014
\u2014
1
2024
Line item in
Statement of Financial
Position in which hedged
item is included
Change in fair value
of hedged item used
for calculating hedge
ineffectiveness
for the year
Amount in the foreign
currency translation
reserves for continuing
hedges
pre tax
Amounts in the foreign
currency translation
reserves for continuing
hedges
post tax
Amounts remaining
in the foreign currency
translation reserves from
any hedging relationship
for which hedge
accounting is
no longer applied
pre tax
Amounts remaining in the
foreign currency
translation reserves from any
hedging relationship for which
hedge accounting is no longer
applied
post tax
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Reserves2
66
(108)
(94)
(8)
(7)
1. Included in other (expense)/income in the income statement.
2. Relates to the net investment in AIB Group (UK) p.l.c.
The Group has disclosed an analysis of scheme assets by asset class in accordance with the requirements of IAS 19. In 2024 additional voluntary
disclosures were provided for certain asset classes. The 2024 comparatives have been re-presented to align with the disclosure in 2025.
2025
2024
\u20ac m
\u20ac m
Cash and cash equivalents
528
148
Quoted equity instruments
710
995
Quoted debt instruments
1,044
1,801
Real estate1,2
282
278
Derivatives
2
(14)
Quoted investment funds
2,069
1,585
Mortgage backed securities2
\u2014
115
Insurance contracts3
649
678
Fair value of scheme assets at 31 December
5,284
5,586
1. Located in Europe.
2. A quoted market price in an active market is not available.
3. Further details on these contracts are set out in the Asset-liability matching strategies section within this note.", "dimensions": { "concept": "ifrs-full:DisclosureOfReclassificationsOrChangesInPresentationExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-551": { "value": "
Changes in presentation to the financial statements
(i) Cash collateral payable to/receivable from derivative and repurchase
agreement counterparties
The Group places cash collateral with and receives cash collateral from
derivative and repurchase agreement counterparties. In the 2024 financial
statements cash collateral placed and received was presented in the
following line items:
\u2022 Loans and advances to banks;
\u2022 Loans and advances to customers;
\u2022 Deposits by central banks and banks; and
\u2022 Customer accounts.
To ensure a consistent naming convention is applied to the financial
statement line items, that include cash collateral, the Group has
renamed:
\u2022 \u2018Deposits by central banks and banks\u2019 as \u2018Deposits and advances from
banks\u2019; and
\u2022 \u2018Customer accounts\u2019 as \u2018Deposits and advances from customers\u2019.
The Group has also re-presented the notes to the financial statements,
that include cash collateral to consistently disclose cash collateral as a
line item within the note rather than presenting it separately as an \u2018of
which\u2019 amount.\u00a0
(r) Collateral and netting \u2013 Note 37
The Group enters into master netting agreements with counterparties, to
ensure that if an event of default occurs, all amounts outstanding with
those counterparties will be settled on a net basis.
Collateral
The Group obtains collateral in respect of customer advances where this
is considered appropriate. The collateral normally takes the form of a lien
over the customer\u2019s assets and gives the Group a claim on these assets
for both existing and future customer liabilities. The collateral is, in
general, not recorded on the statement of financial position.
The Group also receives collateral in the form of cash or securities in
respect of other credit instruments, such as securities borrowing
contracts and derivative contracts in order to reduce credit risk. Collateral
received in the form of securities is not recorded on the statement of
financial position. Collateral received in the form of cash is recorded on
the statement of financial position with a corresponding liability.
Therefore, in the case of cash collateral, these amounts are assigned to
deposits received from banks or other counterparties. Any interest
payable or receivable arising is recorded as interest expense or interest
income respectively.
In certain circumstances, the Group will pledge collateral in respect of its
own liabilities or borrowings. Collateral pledged in the form of securities or
loans and advances continues to be recorded on the statement of financial
position. Collateral paid away in the form of cash is recorded in loans and
advances to banks or customers. Any interest payable or receivable arising is
recorded as interest expense or interest income respectively.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForCollateralExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-552": { "value": "
Use of judgements and estimates
The preparation of financial statements requires management to make
judgements, estimates and assumptions that affect the application of
policies and reported amounts of certain assets, liabilities, revenues and
expenses, and disclosures of contingent assets and liabilities. The
estimates and assumptions are based on historical experience and
various other factors that are believed to be reasonable under the
circumstances. Since management\u2019s judgement may involve making
estimates concerning the likelihood of future events, the actual results
could differ from those estimates. The estimates and assumptions are
reviewed on an ongoing basis. Revisions to accounting estimates are
recognised in the period in which the estimate is revised and in any future
period affected. The judgements that have a significant effect on the
consolidated financial statements and estimates with a significant risk of
material adjustment in the next year relate to:
\u2022 Impairment of financial assets;
\u2022 Deferred taxation; and
\u2022 Retirement benefit obligations.
A\u00a0description of these judgements and estimates is set\u00a0out in note 2.
2\u00a0 Critical accounting judgements and
estimates
The accounting judgements that have the most significant effect on the
amounts recognised in the financial statements, and the estimates that have a
significant risk of material adjustment in the next year, are set out below.
Significant judgements
The significant judgements made by the Group in applying its accounting
policies are as follows:
\u2022 Deferred taxation; and
\u2022 Impairment of financial assets.
The application of some of these judgements also involves estimations
which are discussed separately.
Deferred taxation
The Group\u2019s accounting policy for deferred tax is set out in accounting
policy (i) in note 1. Details of the Group\u2019s deferred tax assets and liabilities
are set out in note 25.
The Group\u2019s key judgement in relation to the recoverability of deferred tax
assets for unused tax losses is that it is probable that there will be
sufficient future taxable profits against which those losses can be used:
\u2022 The disclosed estimated utilisation period for those losses in Ireland
is within the timeframe that taxable profits are considered probable;
and
\u2022 Taxable profits are considered more likely than not in the UK for
a\u00a0period of 15 years.
Deferred tax assets are recognised for unused tax losses to the extent that it is
probable that there will be sufficient future taxable profits against which the
losses can be used. For a company with a history of\u00a0recent losses, there must
be other convincing evidence to underpin this assessment.
The recognition of these deferred tax assets relies on the assessment of
future profitability and the sufficiency of those profits to absorb losses
carried forward. It requires significant judgements to be made about the
projection of long-term future profitability because of the period over
which recovery extends.
In assessing the future profitability of the Group, the Board has considered
a range of positive and negative evidence for this purpose. Among this
evidence, the principal positive factors include:
\u2022 AIB as a pillar bank with a strong Irish franchise;
\u2022 The absence of any expiry dates for Irish and UK tax losses;
\u2022 The turnaround evident in the Group's financial performance over the
years 2021-2025;
\u2022 The changing banking landscape in Ireland;
\u2022 The Irish economy remained robust in 2025, with growth accelerating
sharply mostly due to developments in the export sector;
\u2022 External economic forecasts for Ireland, with growth forecasted for
2026;
\u2022 The introduction of the bank resolution framework under the BRRD and
the establishment in 2017 of AIB Group plc as the new holding
company of the Group. This provides greater confidence in relation to
the future viability of Allied Irish Banks, p.l.c. (as the principal operating
bank subsidiary) as there are now effective tools in place that should
facilitate its recapitalisation in a future crisis; and
\u2022 The non-enduring nature of the loan impairments at levels which
resulted in the losses between 2009 and 2013.
The Board also considered negative evidence and the inherent
uncertainties in any long-term financial assumptions and projections,
including:
\u2022 The absolute level of deferred tax assets compared to the Group\u2019s
equity;
\u2022 The quantum of profits required to be earned and the extended period
over which it is projected that the tax losses will be utilised;
\u2022 The challenge of forecasting over a long period, taking account of the
changing level of competition, and the evolving interest rate environment;
\u2022 The globalised nature of the Irish economy and its exposure to
macroeconomic headwinds and geopolitical issues; and
\u2022 Taxation changes (including Organisation for Economic Co-operation
and Development (OECD) tax reform) and the likelihood of future
developments and their impact on profitability.
Taking account of all relevant factors, and in the absence of any expiry
date for tax losses in Ireland, it is more likely than not that there will be
future profits in the medium term, and beyond, in the relevant Irish Group
companies against which to use the tax losses. In this regard, the\u00a0Group
has carried out an exercise to determine the likely number of\u00a0years
required to utilise the deferred tax asset under the following scenario.
Using the Group\u2019s financial plan 2026 to 2028 as a base and a profit
growth rate of 2% from 2028, it was assessed that it will take less than 7
years for the Irish deferred tax asset to be utilised. If the growth rate
assumption was decreased by 1%, then the utilisation period would
increase by less than 1 year. The Group\u2019s analysis of this and other
scenarios examined would not alter the basis of recognition or the current
carrying value. In 2024, the Group reported that it expected that it would
take less than 10 years for the deferred tax asset to be utilised.
Given the relative size of the Group\u2019s operations in the UK compared
to\u00a0the role that the Irish operations play in supporting a functioning
banking environment, a different judgement has been applied to the
period that taxable profits are considered more likely than not in the UK.
Despite the absence of any expiry date for tax losses in the UK, the Group
has concluded that the recognition of deferred tax assets in its UK
subsidiary be limited to the amount projected to be realised within a time
period of 15 years. This is the timescale within which the Group believes
that it can assess the likelihood of its UK profits arising as being more
likely than not.
Impairment of financial assets
The Group\u2019s accounting policy for impairment of financial assets is set out
in accounting policy (q) in note 1. Details of the Group\u2019s net credit
impairment charge are set out in note 11 and ECL allowance on financial
assets are set out in note 19.
The calculation of the ECL allowance is complex and requires the use of a
number of accounting judgements.
The most significant judgements applied by the Group in determining the
ECL allowance are as follows:
\u2022 Determining the criteria for a significant increase in credit risk and for
being classified as credit impaired; and
\u2022 Determining the need for and an appropriate methodology for
post\u2011model adjustments.
The significant management judgement and the governance process,
relating to ECL, are set out on pages 182 to 189 in the Risk Management
section.
2\u00a0 Critical accounting judgements and
estimates continued
Critical accounting estimates
The accounting estimates with a significant risk of material adjustment to
the carrying amounts of assets and liabilities within the next financial year
were in relation to:
\u2022 Impairment of financial assets; and
\u2022 Retirement benefit obligations.
Impairment of financial assets
The Group\u2019s accounting policy for impairment of financial assets is set out
in accounting policy (q) in note 1. Details of the Group\u2019s ECL allowance
are set out in note 19.
The key estimates and assumptions that the Group have used in
determining the ECL allowance are as follows:
\u2022 Establishing the number and relative weightings for forward looking
scenarios;
\u2022 Inputs into discounted cash flows (DCFs) for certain Stage 3 credit
impaired obligors;
\u2022 The assumptions for measuring ECL (e.g. PD, LGD and EAD and the
parameters to be included within the models for modelled ECL); and
\u2022 The estimation of post model adjustments where required.
The calculation of the ECL allowance is complex and therefore the Group
must consider large amounts of information in its determination. This
process requires significant use of estimates and assumptions, some of
which by their nature are highly subjective and very sensitive to risk factors
such as changes to economic conditions. Changes in the ECL allowance
can materially affect net income.
On an ongoing basis, the various estimates and assumptions are reviewed
in light of differences between actual and previously calculated expected
losses. These are then recalibrated and refined to reflect current and
evolving economic conditions. The ECL allowance is, in turn, reviewed and
approved by the Group Credit Committee on a quarterly basis with final
Group levels being approved by the Board Audit Committee. Further detail
on the ECL governance process is set out on page 189.
The macroeconomic variables used in models to calculate ECL allowance
are based on assumptions, forecasts and estimates against\u00a0a backdrop of
an evolving economic landscape. Accordingly, developments in local and
international factors could have a material bearing on the ECL allowance
within the next financial year. The Group\u2019s sensitivity to a range of
macroeconomic factors under the (i) base forecast; (ii) upside; and (iii)
downside scenarios is set out on pages 190 to 194 of the Risk
Management section of this report.
DCFs are used as an input to the ECL calculation for Stage 3
credit\u2011impaired exposures where gross credit exposure is \u2265 \u20ac1 million in
the Republic of Ireland or \u2265 \u00a3500,000 in the UK. For higher\u2011value cases,
multiple DCFs are prepared to ensure that expected losses appropriately
reflect forward looking outcomes. This approach is required where gross
credit exposure is \u2265 \u20ac5 million (Republic of Ireland), \u2265 \u00a35 million (UK), or
where exposures fall within the Group Leveraged Lending Policy. This
approach captures borrower specific impacts under base, downside and
upside conditions, with each scenario probability weighted to derive the
final scenario weighted ECL. Collateral valuation assumptions and the
estimated time to realisation of collateral are key drivers of the DCF
approach. Forward looking information is incorporated through the
Group\u2019s credit assessment process and applied consistently across
scenarios. Where the calculated ECL is very low, a minimum ECL floor is
applied. This is benchmarked against relevant model outputs to ensure
consistency and prudence in ECL recognition.
The Group has developed a standard approach for the measurement of
ECL for the majority of the Group\u2019s exposures where each ECL input
parameter (e.g. PD, LGD and EAD) is developed in line with standard
modelling methodology. These are discussed further on pages 187 to 189
of the Risk Management section. When considering changes in these
assumptions collectively, there is a significant risk of a material
adjustment to the Group\u2019s ECL allowance within the next financial year.
Where the estimate of ECL does not adequately capture all available
forward looking information about the range of possible outcomes, or
where there is a significant degree of uncertainty, management may
consider it appropriate for an adjustment to ECL. These are referred to\u00a0as
post model adjustments and are set out in detail on pages 195 and 196.
The sensitivity of the carrying amounts of the ECL to changes in
assumptions and estimates relating to inputs into DCFs for certain Stage 3
credit impaired obligors, the assumptions for measuring ECL, and the
estimation of post model adjustments where required have not been
provided given their diverse nature, their interrelationship and the number
of estimates and assumptions involved.
Retirement benefit obligations
The Group\u2019s accounting policy for retirement benefit obligations is set out
in accounting policy (h) in note 1. Details of the Group\u2019s retirement benefit
obligations are set out in note 26.
The key estimates and assumptions that the Group have used in
determining the retirement benefit obligation are as follows:
\u2022 In a situation where the Group believes the Trustee can grant
discretionary increases without any funding being provided by the
Group, the Group has assumed that the Trustee will grant increases and
as a result the scheme\u2019s liabilities include an estimate for this matter;
and
\u2022 The significant demographic and financial actuarial assumptions used
to determine the present value of the retirement benefit obligation.
The Trustee of the Irish Scheme has awarded an increase, in certain years,
in respect of pensions eligible for discretionary pension in payment
increases notwithstanding a decision by the Group not to fund such
increases. This reflected the ability of the Trustee to grant an increase
when the financial position of the scheme would enable such an increase
at that point in time. Taking these decisions by the Trustee into
consideration, the long-term assumption for future increases in pension in
payment reflects an assessment of the Trustee\u2019s ability to grant further
increases without any funding from the Group, capped at the lower of our
long-term inflation assumption or the surplus available to the Trustee.
Having taken actuarial advice, the Group has adopted a rate of 2.10%
(31\u00a0December 2024: 1.90%) for the long-term assumption for future
discretionary increases in pensions in payment. This increased the
scheme liabilities by \u20ac748\u00a0million at 31 December 2025 (31 December
2024: \u20ac808 million). A sensitivity analysis for the rate of increase in
pensions in payment is not provided, as this rate is dependent on the
surplus available to the Trustee to distribute and the advice of the actuary.
The actuarial valuation of the schemes\u2019 liabilities is dependent upon a
number of financial and demographic assumptions which are inherently
uncertain. Changes to those assumptions could materially impact the
reported amount for schemes\u2019 liabilities and the actuarial gains/losses
reported in equity. Details of the assumptions adopted by the Group
in\u00a0calculating the schemes\u2019 liabilities and a sensitivity analysis for the
principal assumptions used to measure the schemes\u2019 liabilities are
set\u00a0out in note 26 to the financial statements.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-553": { "value": "Going concern and viability: The assessment of the Group\u2019s going
concern and viability over the next three years did not identify material
climate-related risks, both in terms of our decarbonisation
commitments and the physical risks from climate change. This is set
out in further detail on page 168.\u00a0
Going concern
The financial statements for the year ended 31 December 2025 have been
prepared on a going concern basis as the Directors are satisfied, having
considered the risks and uncertainties impacting the Group, that it has the
ability to continue in business for the period of assessment. In making this
assessment, the Directors have considered a wide range of information
relating to present and future conditions. This includes capital forecasts and
internally generated macroeconomic scenarios that take account of
geopolitical risks, the impacts of tariffs, inflation, interest rates and related
impacts on unemployment and property prices. The period of assessment
used by the Directors is at least 12\u00a0months from the date of approval of
these annual financial statements.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-554": { "value": "Impairment of non-financial assets: The Group applies the
requirements of IAS 36 Impairment of Assets in assessing whether
impacted assets are impaired at a reporting date. The Group has a
robust process to identify assets that may be impaired which requires
the identification of all material potential impairment triggers including
identification of climate-related impairment triggers. In\u202faddition, the
Group\u2019s published decarbonisation commitments do not impact the
useful lives of the Group\u2019s impacted assets as the Group proposes to
replace impacted assets as their useful lives expire. The Group\u2019s
impairment charge for 2024 included the impact of the Greener
Branches Refurbishments Programme to improve branch and office
buildings\u2019 energy efficiency.
Property, plant and equipment are stated at cost, or deemed cost,
less\u00a0accumulated depreciation and provisions for impairment, if any.
Additions and subsequent expenditures are capitalised only to the extent
that they enhance the future economic benefits expected to be derived
from the asset. No depreciation is provided on freehold land. Property,
plant and equipment are depreciated on a straight line basis over their
estimated useful economic lives. Depreciation is calculated based on the
gross carrying amount, less the estimated residual value at the end of the
assets\u2019 economic lives.
The Group uses the following useful lives when calculating depreciation:
Asset type
Useful life
Freehold buildings and long-leasehold
property
50 years
Short leasehold property
life of lease, up to 50 years
Costs of adaptation of freehold and
leasehold property
Branch properties
up to 10 years1
Office properties
up to 15 years1
Computers and similar equipment
3 \u2013 7 years
Fixtures and fittings and other equipment
5 \u2013 10 years
1. Subject to the maximum remaining life of the lease.
The Group depreciates right-of-use assets arising under lease obligations
from the commencement date of a lease to the earlier of the end of the
useful life of the right-of-use asset and the end of the lease term on a
straight-line basis.
The Group reviews its depreciation rates, at least annually, to take
account of any change in circumstances. When deciding on useful lives
and methods, the principal factors that the Group takes into account are
the expected rate of technological developments and expected market
requirements for, and the expected pattern of usage of, the assets. When
reviewing residual values, the Group estimates the amount that it would
currently obtain for the disposal of the asset, after deducting the
estimated cost of disposal if the asset was already of the age and
condition expected at the end of its useful life.
Gains and losses on disposal of property, plant and equipment are
included in the income statement. It is Group policy not to revalue its
property, plant and equipment.
Computer software and other intangible assets
Computer software and other intangible assets are stated at cost,
less\u00a0amortisation on a straight line basis and provisions for impairment, if
any. The identifiable and directly associated external and internal costs of
acquiring and developing software are capitalised where the software is
controlled by the Group, and where it is probable that future economic
benefits that exceed its cost will flow from its use over more than one year.
Costs associated with maintaining software are recognised as an expense
when incurred. Capitalised computer software is amortised over 3 to 9
years. Other intangible assets are amortised over the life of the asset.
Computer software and other intangible assets are reviewed for
impairment when there is an indication that the asset may be impaired.
Intangible assets not yet available for use are reviewed for impairment on
an annual\u00a0basis.
Acquired intangible assets
Customer related intangible assets and brands acquired in a business
combination are recognised at fair value at acquisition date.
Customer related intangible assets and brands have a finite useful life and
are carried at cost less accumulated amortisation and provision for
impairment, if any. Amortisation is calculated using the straight line basis
to allocate the cost over their estimated useful life (6 years).
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-555": { "value": "
(d) Basis of consolidation \u2013 Notes 21 and 39
The consolidated financial statements comprise the financial statements
of\u00a0the Group and its subsidiaries including consolidated structured
entities.
Subsidiary undertakings
Subsidiary undertakings are all entities (including structured entities)
over\u00a0which the group has control. The Group controls an entity where the
Group is exposed to, or has rights to, variable returns from its involvement
with the entity and has the ability to affect those returns through its power
to direct the activities of the entity. Subsidiary undertakings are fully
consolidated from the date on which control is transferred to the Group.
They are derecognised from the date that control ceases.
Inter-company transactions, balances and unrealised gains on
transactions between group companies are eliminated. Unrealised losses
are also eliminated, unless the transaction provides evidence of an
impairment of the transferred asset. Accounting policies of subsidiaries
have been updated where necessary to ensure consistency with the
policies adopted by the Group.
Non-controlling interests in the results and equity of subsidiaries are
shown separately in the consolidated income statement, statement of
comprehensive income, statement of changes in equity and consolidated
statement of financial position respectively.
If the Group loses control over a subsidiary undertaking, it derecognises
the related assets (including goodwill), liabilities, non\u2011controlling interest
and other components of equity, while any resultant gain or loss is
recognised in profit or loss.
Investments accounted for using the equity method
The Group\u2019s investments accounted for using the equity method comprise
its investments in associates and joint ventures.
An associated undertaking is an entity over which the Group has
significant influence, but not control, over the entity\u2019s operating and
financial policy decisions. If the Group holds 20% or more of the voting
power of an entity, it is presumed that the Group has significant influence,
unless it can be clearly demonstrated that this is not the\u00a0case.
A joint venture is a joint arrangement whereby the parties that have joint
control of the arrangement have rights to the net assets of
the\u00a0arrangement.
Under the equity method of accounting, the investments are initially
recognised at cost and adjusted thereafter to recognise the Group\u2019s share
of the post-acquisition profits or losses of the investee in profit or loss,
and the Group\u2019s share of movements in other comprehensive income
of the investee in other comprehensive income. Dividends received or
receivable from associates and joint ventures are recognised as a
reduction in the carrying amount of the investment.
Where the Group\u2019s share of losses in an equity-accounted investment
equals or exceeds its interest in the entity, including any other unsecured
long-term receivables, the Group does not recognise further losses, unless
it has incurred obligations or made payments on behalf of the other entity.
Unrealised gains on transactions between the Group and its associates
and joint ventures are eliminated to the extent of the Group\u2019s interest in
these entities. Unrealised losses are also eliminated unless the
transaction provides evidence of an impairment of the asset transferred.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-556": { "value": "
Subsidiary undertakings
Subsidiary undertakings are all entities (including structured entities)
over\u00a0which the group has control. The Group controls an entity where the
Group is exposed to, or has rights to, variable returns from its involvement
with the entity and has the ability to affect those returns through its power
to direct the activities of the entity. Subsidiary undertakings are fully
consolidated from the date on which control is transferred to the Group.
They are derecognised from the date that control ceases.
Inter-company transactions, balances and unrealised gains on
transactions between group companies are eliminated. Unrealised losses
are also eliminated, unless the transaction provides evidence of an
impairment of the transferred asset. Accounting policies of subsidiaries
have been updated where necessary to ensure consistency with the
policies adopted by the Group.
Non-controlling interests in the results and equity of subsidiaries are
shown separately in the consolidated income statement, statement of
comprehensive income, statement of changes in equity and consolidated
statement of financial position respectively.
If the Group loses control over a subsidiary undertaking, it derecognises
the related assets (including goodwill), liabilities, non\u2011controlling interest
and other components of equity, while any resultant gain or loss is
recognised in profit or loss.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-559": { "value": "
Investments accounted for using the equity method
The Group\u2019s investments accounted for using the equity method comprise
its investments in associates and joint ventures.
An associated undertaking is an entity over which the Group has
significant influence, but not control, over the entity\u2019s operating and
financial policy decisions. If the Group holds 20% or more of the voting
power of an entity, it is presumed that the Group has significant influence,
unless it can be clearly demonstrated that this is not the\u00a0case.
A joint venture is a joint arrangement whereby the parties that have joint
control of the arrangement have rights to the net assets of
the\u00a0arrangement.
Under the equity method of accounting, the investments are initially
recognised at cost and adjusted thereafter to recognise the Group\u2019s share
of the post-acquisition profits or losses of the investee in profit or loss,
and the Group\u2019s share of movements in other comprehensive income
of the investee in other comprehensive income. Dividends received or
receivable from associates and joint ventures are recognised as a
reduction in the carrying amount of the investment.
Where the Group\u2019s share of losses in an equity-accounted investment
equals or exceeds its interest in the entity, including any other unsecured
long-term receivables, the Group does not recognise further losses, unless
it has incurred obligations or made payments on behalf of the other entity.
Unrealised gains on transactions between the Group and its associates
and joint ventures are eliminated to the extent of the Group\u2019s interest in
these entities. Unrealised losses are also eliminated unless the
transaction provides evidence of an impairment of the asset transferred.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-558": { "value": "
Investments accounted for using the equity method
The Group\u2019s investments accounted for using the equity method comprise
its investments in associates and joint ventures.
An associated undertaking is an entity over which the Group has
significant influence, but not control, over the entity\u2019s operating and
financial policy decisions. If the Group holds 20% or more of the voting
power of an entity, it is presumed that the Group has significant influence,
unless it can be clearly demonstrated that this is not the\u00a0case.
A joint venture is a joint arrangement whereby the parties that have joint
control of the arrangement have rights to the net assets of
the\u00a0arrangement.
Under the equity method of accounting, the investments are initially
recognised at cost and adjusted thereafter to recognise the Group\u2019s share
of the post-acquisition profits or losses of the investee in profit or loss,
and the Group\u2019s share of movements in other comprehensive income
of the investee in other comprehensive income. Dividends received or
receivable from associates and joint ventures are recognised as a
reduction in the carrying amount of the investment.
Where the Group\u2019s share of losses in an equity-accounted investment
equals or exceeds its interest in the entity, including any other unsecured
long-term receivables, the Group does not recognise further losses, unless
it has incurred obligations or made payments on behalf of the other entity.
Unrealised gains on transactions between the Group and its associates
and joint ventures are eliminated to the extent of the Group\u2019s interest in
these entities. Unrealised losses are also eliminated unless the
transaction provides evidence of an impairment of the asset transferred.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsInJointVentures", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-557": { "value": "
Investments accounted for using the equity method
The Group\u2019s investments accounted for using the equity method comprise
its investments in associates and joint ventures.
An associated undertaking is an entity over which the Group has
significant influence, but not control, over the entity\u2019s operating and
financial policy decisions. If the Group holds 20% or more of the voting
power of an entity, it is presumed that the Group has significant influence,
unless it can be clearly demonstrated that this is not the\u00a0case.
A joint venture is a joint arrangement whereby the parties that have joint
control of the arrangement have rights to the net assets of
the\u00a0arrangement.
Under the equity method of accounting, the investments are initially
recognised at cost and adjusted thereafter to recognise the Group\u2019s share
of the post-acquisition profits or losses of the investee in profit or loss,
and the Group\u2019s share of movements in other comprehensive income
of the investee in other comprehensive income. Dividends received or
receivable from associates and joint ventures are recognised as a
reduction in the carrying amount of the investment.
Where the Group\u2019s share of losses in an equity-accounted investment
equals or exceeds its interest in the entity, including any other unsecured
long-term receivables, the Group does not recognise further losses, unless
it has incurred obligations or made payments on behalf of the other entity.
Unrealised gains on transactions between the Group and its associates
and joint ventures are eliminated to the extent of the Group\u2019s interest in
these entities. Unrealised losses are also eliminated unless the
transaction provides evidence of an impairment of the asset transferred.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociates", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-560": { "value": "
(e) Foreign currency translation
Items included in the financial statements of each of the Group\u2019s entities
are measured using their functional currency, being the currency of the
primary economic environment in which the entity operates.
Transactions and balances
Foreign currency transactions are translated into the respective entity\u2019s
functional currency using the exchange rates prevailing at the dates of the
transactions. Monetary assets and liabilities denominated in foreign
currencies are re-translated at the rate prevailing at the period-end.
Foreign exchange gains and losses resulting from the settlement of such
transactions and from the re-translation at period end exchange rates of
monetary assets and liabilities denominated in foreign currencies are
recognised in the income statement.
Exchange differences on equities and similar non-monetary items held at
fair value through profit or loss are reported as part of the fair value gain or
loss. Exchange differences on a financial instruments designated as a
hedge of the net investment in a foreign operation are reported in other
comprehensive income.
Foreign operations
The results and financial position of all Group entities that have
a\u00a0functional currency different from the Euro are translated into Euro
as\u00a0follows:
\u2022 Assets and liabilities including goodwill and fair value adjustments
arising on consolidation of foreign operations are translated at the
closing rate;
\u2022 Income and expenses are translated into Euro at the average rates
of\u00a0exchange during the period where these rates approximate to
the\u00a0foreign exchange rates ruling at the dates of the transactions;
\u2022 Foreign currency translation differences are recognised in other
comprehensive income; and
\u2022 Since 1 January 2004, the Group\u2019s date of transition to IFRS, all such
exchange differences are included in the foreign currency cumulative
translation reserve within shareholders\u2019 equity.
When a foreign operation is disposed of in full, the relevant amount of this
reserve is transferred to the income statement. When a subsidiary is partly
disposed, the relevant proportion of foreign currency translation reserve is
re-attributed to the non-controlling interest. In the case of a partial
disposal, a pro-rata amount of the foreign currency cumulative translation
reserve is transferred to the income statement. A partial disposal is also
considered to have occurred when a formal decision has been made to
wind down an entity and where capital is being repaid but there has not
been a reduction in the Group\u2019s overall percentage holding.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-563": { "value": "
(f) Interest income and expense recognition \u2013 Notes 4 and 5
Effective interest rate
The effective interest rate (EIR) is the rate that exactly discounts the
estimated future cash payments or receipts through the expected life of
the financial instrument to:
\u2022 The gross carrying amount of the financial asset; or
\u2022 The amortised cost of the financial liability.
The application of the method has the effect of recognising income
receivable and expense payable on the instrument evenly in proportion to
the amount outstanding over the period to maturity or repayment.
In\u00a0calculating the effective interest rate for financial instruments, the
Group estimates cash flows (using projections based on its experience of
customers\u2019 behaviour) considering all contractual terms of the financial
instrument but excluding expected credit losses (except, in\u00a0the\u00a0case of
purchased or originated credit impaired (POCI) financial assets where
expected credit losses are included in the calculation of a credit-adjusted
effective interest rate). The calculation takes into account all fees,
including those for any expected early redemption, and points paid or
received between parties to the contract that are an integral part of the
effective interest rate, as well as transaction costs and all other premiums
and discounts.
All costs associated with mortgage incentive schemes are included in the
effective interest rate calculation. Fees and commissions payable to third
parties in connection with lending arrangements, where these are direct
and incremental costs related to the issue of a financial instrument, are
included in interest income as part of the effective interest rate.
Amortised cost and gross carrying amount
The amortised cost of a financial asset or financial liability is the amount
at which the financial asset or financial liability is measured at initial
recognition minus the principal repayments, plus or minus the cumulative
amortisation using the effective interest rate method of any difference
between the initial amount and the maturity amount and, for financial
assets, adjusted for any loss allowance.
The gross carrying amount of a financial asset is the amortised cost before
adjusting for any loss allowance.
Calculation of interest income and interest expense
In calculating interest income and expense, the effective interest rate is
applied to the gross carrying amount of the asset (when the asset is not
credit impaired) or to the amortised cost of the liability.
For financial assets that have become credit impaired subsequent to
initial recognition, interest income is calculated by applying the effective
interest rate to the amortised cost of the financial asset. If the asset is no
longer credit impaired, the calculation of interest income reverts to the
gross basis.
However, for financial assets that were credit impaired on initial
recognition, interest income is calculated by applying the credit adjusted
effective interest rate to the amortised cost of the financial asset. The
calculation of interest income does not revert to a gross basis, even if the
credit risk of the asset improves.
When a financial asset is no longer credit impaired or has been repaid in
full (i.e. cured without financial loss), the Group presents previously
unrecognised interest income as a reversal of credit impairment/recovery
of amounts previously written-off.
Interest income and expense on financial assets and liabilities classified
as\u00a0held for trading or at fair value through profit or loss (FVTPL) is
recognised in \u2018net trading income\u2019 or \u2018net gain on other financial assets
measured at FVTPL\u2019 in the income statement, as applicable.
Presentation
Interest income and expense presented in the consolidated income
statement include:
\u2022 Interest on financial assets and financial liabilities measured at
amortised cost calculated on an effective interest rate basis;
\u2022 Interest on investment debt securities measured at FVOCI calculated
on an effective interest rate basis;
\u2022 Net interest income and expense on qualifying hedge derivatives
designated as cash flow hedges or fair value hedges which are
recognised in interest income or interest expense;
\u2022 Net interest income or expense on derivatives that are held with
hedging intent, but for which hedge accounting is not applied;
\u2022 Interest income and funding costs of trading portfolio financial assets;
\u2022 Interest income and expense on leases and hire purchase contracts; and
\u2022 Interest income on financial assets at FVTPL.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-562": { "value": "
(f) Interest income and expense recognition \u2013 Notes 4 and 5
Effective interest rate
The effective interest rate (EIR) is the rate that exactly discounts the
estimated future cash payments or receipts through the expected life of
the financial instrument to:
\u2022 The gross carrying amount of the financial asset; or
\u2022 The amortised cost of the financial liability.
The application of the method has the effect of recognising income
receivable and expense payable on the instrument evenly in proportion to
the amount outstanding over the period to maturity or repayment.
In\u00a0calculating the effective interest rate for financial instruments, the
Group estimates cash flows (using projections based on its experience of
customers\u2019 behaviour) considering all contractual terms of the financial
instrument but excluding expected credit losses (except, in\u00a0the\u00a0case of
purchased or originated credit impaired (POCI) financial assets where
expected credit losses are included in the calculation of a credit-adjusted
effective interest rate). The calculation takes into account all fees,
including those for any expected early redemption, and points paid or
received between parties to the contract that are an integral part of the
effective interest rate, as well as transaction costs and all other premiums
and discounts.
All costs associated with mortgage incentive schemes are included in the
effective interest rate calculation. Fees and commissions payable to third
parties in connection with lending arrangements, where these are direct
and incremental costs related to the issue of a financial instrument, are
included in interest income as part of the effective interest rate.
Amortised cost and gross carrying amount
The amortised cost of a financial asset or financial liability is the amount
at which the financial asset or financial liability is measured at initial
recognition minus the principal repayments, plus or minus the cumulative
amortisation using the effective interest rate method of any difference
between the initial amount and the maturity amount and, for financial
assets, adjusted for any loss allowance.
The gross carrying amount of a financial asset is the amortised cost before
adjusting for any loss allowance.
Calculation of interest income and interest expense
In calculating interest income and expense, the effective interest rate is
applied to the gross carrying amount of the asset (when the asset is not
credit impaired) or to the amortised cost of the liability.
For financial assets that have become credit impaired subsequent to
initial recognition, interest income is calculated by applying the effective
interest rate to the amortised cost of the financial asset. If the asset is no
longer credit impaired, the calculation of interest income reverts to the
gross basis.
However, for financial assets that were credit impaired on initial
recognition, interest income is calculated by applying the credit adjusted
effective interest rate to the amortised cost of the financial asset. The
calculation of interest income does not revert to a gross basis, even if the
credit risk of the asset improves.
When a financial asset is no longer credit impaired or has been repaid in
full (i.e. cured without financial loss), the Group presents previously
unrecognised interest income as a reversal of credit impairment/recovery
of amounts previously written-off.
Interest income and expense on financial assets and liabilities classified
as\u00a0held for trading or at fair value through profit or loss (FVTPL) is
recognised in \u2018net trading income\u2019 or \u2018net gain on other financial assets
measured at FVTPL\u2019 in the income statement, as applicable.
Presentation
Interest income and expense presented in the consolidated income
statement include:
\u2022 Interest on financial assets and financial liabilities measured at
amortised cost calculated on an effective interest rate basis;
\u2022 Interest on investment debt securities measured at FVOCI calculated
on an effective interest rate basis;
\u2022 Net interest income and expense on qualifying hedge derivatives
designated as cash flow hedges or fair value hedges which are
recognised in interest income or interest expense;
\u2022 Net interest income or expense on derivatives that are held with
hedging intent, but for which hedge accounting is not applied;
\u2022 Interest income and funding costs of trading portfolio financial assets;
\u2022 Interest income and expense on leases and hire purchase contracts; and
\u2022 Interest income on financial assets at FVTPL.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-561": { "value": "
(f) Interest income and expense recognition \u2013 Notes 4 and 5
Effective interest rate
The effective interest rate (EIR) is the rate that exactly discounts the
estimated future cash payments or receipts through the expected life of
the financial instrument to:
\u2022 The gross carrying amount of the financial asset; or
\u2022 The amortised cost of the financial liability.
The application of the method has the effect of recognising income
receivable and expense payable on the instrument evenly in proportion to
the amount outstanding over the period to maturity or repayment.
In\u00a0calculating the effective interest rate for financial instruments, the
Group estimates cash flows (using projections based on its experience of
customers\u2019 behaviour) considering all contractual terms of the financial
instrument but excluding expected credit losses (except, in\u00a0the\u00a0case of
purchased or originated credit impaired (POCI) financial assets where
expected credit losses are included in the calculation of a credit-adjusted
effective interest rate). The calculation takes into account all fees,
including those for any expected early redemption, and points paid or
received between parties to the contract that are an integral part of the
effective interest rate, as well as transaction costs and all other premiums
and discounts.
All costs associated with mortgage incentive schemes are included in the
effective interest rate calculation. Fees and commissions payable to third
parties in connection with lending arrangements, where these are direct
and incremental costs related to the issue of a financial instrument, are
included in interest income as part of the effective interest rate.
Amortised cost and gross carrying amount
The amortised cost of a financial asset or financial liability is the amount
at which the financial asset or financial liability is measured at initial
recognition minus the principal repayments, plus or minus the cumulative
amortisation using the effective interest rate method of any difference
between the initial amount and the maturity amount and, for financial
assets, adjusted for any loss allowance.
The gross carrying amount of a financial asset is the amortised cost before
adjusting for any loss allowance.
Calculation of interest income and interest expense
In calculating interest income and expense, the effective interest rate is
applied to the gross carrying amount of the asset (when the asset is not
credit impaired) or to the amortised cost of the liability.
For financial assets that have become credit impaired subsequent to
initial recognition, interest income is calculated by applying the effective
interest rate to the amortised cost of the financial asset. If the asset is no
longer credit impaired, the calculation of interest income reverts to the
gross basis.
However, for financial assets that were credit impaired on initial
recognition, interest income is calculated by applying the credit adjusted
effective interest rate to the amortised cost of the financial asset. The
calculation of interest income does not revert to a gross basis, even if the
credit risk of the asset improves.
When a financial asset is no longer credit impaired or has been repaid in
full (i.e. cured without financial loss), the Group presents previously
unrecognised interest income as a reversal of credit impairment/recovery
of amounts previously written-off.
Interest income and expense on financial assets and liabilities classified
as\u00a0held for trading or at fair value through profit or loss (FVTPL) is
recognised in \u2018net trading income\u2019 or \u2018net gain on other financial assets
measured at FVTPL\u2019 in the income statement, as applicable.
Presentation
Interest income and expense presented in the consolidated income
statement include:
\u2022 Interest on financial assets and financial liabilities measured at
amortised cost calculated on an effective interest rate basis;
\u2022 Interest on investment debt securities measured at FVOCI calculated
on an effective interest rate basis;
\u2022 Net interest income and expense on qualifying hedge derivatives
designated as cash flow hedges or fair value hedges which are
recognised in interest income or interest expense;
\u2022 Net interest income or expense on derivatives that are held with
hedging intent, but for which hedge accounting is not applied;
\u2022 Interest income and funding costs of trading portfolio financial assets;
\u2022 Interest income and expense on leases and hire purchase contracts; and
\u2022 Interest income on financial assets at FVTPL.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-564": { "value": "
(g) Fee and commission income \u2013 Note 3
The measurement and timing of recognition of fee and commission
income is based on the core principles of IFRS 15 Revenue from Contracts
with Customers.
Fee and commission income is recognised when the performance
obligation in the contract has been performed, either at a \u2018point in time\u2019 or
\u2018over time\u2019 if the performance obligation is performed over a period of time
unless the income has been included in the effective interest
rate\u00a0calculation.
The Group includes in the transaction price, some or all of an amount of
variable consideration estimated only to the extent that it is highly
probable that a significant reversal in the amount of cumulative revenue
recognised will not occur when the uncertainty associated with the
variable consideration is subsequently resolved.
The majority of the Group\u2019s fee and commission income arises from retail
banking activities. Loan syndication fees are recognised as revenue when
the syndication has been completed and the Group has retained no part
of the loan package for itself or retained a part at the same effective
interest rate as applicable to the other participants.
Customer related foreign exchange is fee income that is derived from
arranging foreign exchange transactions on behalf of customers.
Such\u00a0income is recognised when the individual performance obligation
has been fulfilled.
Portfolio and other management advisory and service fees are recognised
based on the applicable service contracts. Asset management fees
relating to investment funds are recognised over time in line with the
performance obligation. The same principle is applied to the recognition of
income from wealth management, financial planning and custody
services that are continuously provided over an extended period of time.
Commitment fees together with related direct costs, for loan facilities
where drawdown is probable, are deferred and recognised as an
adjustment to the effective interest rate on the loan once drawn.
Commitment fees in relation to facilities where drawdown is not probable
are recognised over the term of the commitment on a straight line basis.
Other lending related fees are recognised over time in line with the
performance obligation except for arrangement fees where it is likely that
the facility will be drawn down, and which are included in the effective
interest rate calculation.
Fee income and fee expenses in respect of services and prepaid credits
for cellular phone and utilities sold to third parties are classified as
customer accounts and payment services and are recognised when the
performance obligation is satisfied.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFeeAndCommissionIncomeAndExpenseExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-565": { "value": "
(h) Employee benefits \u2013 Note 26
Retirement benefit obligations
The Group provides employees with post-retirement benefits mainly in the
form of pensions.
The Group operates a number of retirement benefit schemes including defined
benefit and defined contribution schemes. This includes benefits for some
members accrued from 2007 to 2013 under a hybrid scheme arrangement
that had both defined benefit and defined contribution elements.
Full actuarial valuations of defined benefit schemes are undertaken every
three years and are updated to reflect current conditions at each year end
reporting date.
Scheme assets are measured at fair value determined by using current bid
prices, except for insurance policies acquired as part of a buy-in. If the
policies are qualifying policies under IAS 19 Employee Benefits and if the
timing and amount of payments under the policies exactly match some or
all of the benefits payable under the scheme, then the present value of the
related obligation is determined and is deemed to be the fair value of the
insurance policies to be included in plan assets.
Scheme liabilities are measured on an actuarial basis by estimating the
amount of future benefit that employees have earned for their service in
current and prior periods and discounting that benefit at the market yield on
a high-quality corporate bond of equivalent term and currency to the liability.
The calculation is performed by a qualified actuary using the projected unit
credit method. The difference between the fair value of the scheme assets
and the present value of the defined benefit obligation at the year end
reporting date is recognised in the statement of financial position. Schemes
in surplus are shown as assets and schemes in deficit, together with
unfunded schemes, are shown as liabilities. A surplus is only recognised as
an asset to the extent that it is recoverable through a refund from the scheme
or through reduced contributions in the future. Actuarial gains and losses are
recognised immediately in other comprehensive income.
The cost of providing defined benefit pension schemes to employees,
comprising the net interest on the net defined benefit liability/(asset),
calculated by applying the discount rate to the net defined benefit liability/
(asset) at the start of the annual reporting period, taking into account
contributions and benefit payments during the period, is charged to the
income statement within personnel expenses.
Remeasurements of the net defined benefit liability/(asset), comprising
actuarial gains and losses and the return on scheme assets (excluding
amounts included in net interest on the net defined benefit liability/
(asset)) are recognised in other comprehensive income. Amounts
recognised in other comprehensive income in relation to remeasurements
of the net defined benefit liability/(asset) will not be reclassified to profit or
loss in a subsequent period.
The Group recognises the effect of an amendment to a defined benefit
scheme when the plan amendment occurs, which is when the Group
introduces or withdraws a defined benefit scheme, or changes the
benefits payable under existing defined benefit schemes. A\u00a0curtailment is
recognised when a significant reduction in the number of employees
covered by a defined benefit scheme occurs. A settlement is a transaction
that eliminates all further legal or constructive obligations for part or all of
the benefits provided under a defined benefit scheme. Gains or losses on
plan amendments, curtailments and settlements are recognised in the
income statement.
Changes with regard to benefits payable to retirees which represent a
constructive obligation under IAS 37 Provisions, Contingent Liabilities and
Contingent Assets are accounted for as a past service cost. These are
recognised in the income statement.
The costs of managing the defined benefit scheme assets are deducted
from the return on scheme assets. All costs of running the defined benefit
schemes are recognised in the income statement when they are\u00a0incurred.
The cost of the Group\u2019s defined contribution schemes is charged to the
income statement in the accounting period in which it is incurred. Any
contributions unpaid at the year end reporting date are included as a
liability. The Group has no further obligation under these schemes once
these contributions have been paid.
Short-term employee benefits
Short-term employee benefits, such as salaries and other benefits,
are\u00a0accounted for on an accruals basis over the period during which
employees have provided services. Bonuses are recognised to the extent
that the Group has a legal or constructive obligation to its employees that
can be measured reliably.
Retirement benefit obligations
The Group\u2019s accounting policy for retirement benefit obligations is set out
in accounting policy (h) in note 1. Details of the Group\u2019s retirement benefit
obligations are set out in note 26.
The key estimates and assumptions that the Group have used in
determining the retirement benefit obligation are as follows:
\u2022 In a situation where the Group believes the Trustee can grant
discretionary increases without any funding being provided by the
Group, the Group has assumed that the Trustee will grant increases and
as a result the scheme\u2019s liabilities include an estimate for this matter;
and
\u2022 The significant demographic and financial actuarial assumptions used
to determine the present value of the retirement benefit obligation.
The Trustee of the Irish Scheme has awarded an increase, in certain years,
in respect of pensions eligible for discretionary pension in payment
increases notwithstanding a decision by the Group not to fund such
increases. This reflected the ability of the Trustee to grant an increase
when the financial position of the scheme would enable such an increase
at that point in time. Taking these decisions by the Trustee into
consideration, the long-term assumption for future increases in pension in
payment reflects an assessment of the Trustee\u2019s ability to grant further
increases without any funding from the Group, capped at the lower of our
long-term inflation assumption or the surplus available to the Trustee.
Having taken actuarial advice, the Group has adopted a rate of 2.10%
(31\u00a0December 2024: 1.90%) for the long-term assumption for future
discretionary increases in pensions in payment. This increased the
scheme liabilities by \u20ac748\u00a0million at 31 December 2025 (31 December
2024: \u20ac808 million). A sensitivity analysis for the rate of increase in
pensions in payment is not provided, as this rate is dependent on the
surplus available to the Trustee to distribute and the advice of the actuary.
The actuarial valuation of the schemes\u2019 liabilities is dependent upon a
number of financial and demographic assumptions which are inherently
uncertain. Changes to those assumptions could materially impact the
reported amount for schemes\u2019 liabilities and the actuarial gains/losses
reported in equity. Details of the assumptions adopted by the Group
in\u00a0calculating the schemes\u2019 liabilities and a sensitivity analysis for the
principal assumptions used to measure the schemes\u2019 liabilities are
set\u00a0out in note 26 to the financial statements.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-567": { "value": "
(i) Income tax, including deferred income tax \u2013 Notes 13 and 25
Income tax comprises current and deferred tax. Income tax is recognised in
the income statement except to the extent that it relates to items recognised
in other comprehensive income, in which case it is\u00a0recognised in other
comprehensive income. Income tax relating to items in equity is recognised
directly in equity. However, the income tax consequences of payments on
financial instruments that are classified as equity but treated as liabilities for
tax purposes are recognised in profit or loss if those payments are
distributions of profits previously recognised in profit or loss.
Current tax is the expected tax payable on the taxable income for the year
using tax rates enacted or substantively enacted at the reporting date and
any adjustment to tax payable in respect of previous years.
Deferred income tax is provided on temporary differences between the tax
bases of assets and liabilities and their carrying amounts for financial
reporting purposes that exist at the balance sheet date. Deferred income
tax is determined using tax rates based on legislation enacted or
substantively enacted at the reporting date and is expected to apply when
the deferred tax asset is realised or the deferred tax liability is settled.
Deferred income tax assets are recognised when it is probable that future
taxable profits will be available against which the temporary differences
will be utilised. The deferred tax asset is reviewed at the end of each
reporting period and the carrying amount will reflect the extent that it is
probable that sufficient taxable profits will be available to allow all of the
asset to be recovered.
The tax effects of income tax losses available for carry forward are
recognised as an asset to the extent that it is probable that future taxable
profits will be available against which these losses can be utilised.
Deferred and current tax assets and liabilities are only offset when they
arise in the same tax reporting group and where there is both the legal right
and the intention to settle the current tax assets and liabilities on a net
basis or to realise the asset and settle the liability simultaneously.
The principal temporary differences arise from the depreciation of property,
plant and equipment, revaluation of certain financial assets and financial
liabilities including derivative contracts, provisions for expected credit
losses on financial instruments, provisions for pensions and other post-
retirement benefits, and in relation to acquisitions, on the difference
between the fair values of the net assets acquired and their tax base.
Deferred income tax is provided on temporary differences arising from
investments in subsidiaries and associates, except where the timing of the
reversal of the temporary difference is controlled by the Group and it is
probable that the difference will not reverse in the foreseeable future. In
addition, temporary differences are not provided for assets and liabilities
the initial recognition of which, in a transaction that is not a business
combination, affects neither accounting nor taxable profit.
Income tax payable on profits arising from investments in subsidiaries and
associates, based on the applicable tax law in each jurisdiction, is
recognised as an expense in the period in which the profits arise.
The Group adopted the amendments to IAS 12 International Tax Reform \u2013
Pillar Two Model Rules. The amendments provide a mandatory temporary
exception from the requirement to recognise and disclose deferred taxes
arising from enacted or substantively enacted tax law that implements the
Pillar Two\u00a0model rules. Accordingly, the Group has not recognised any
changes to its deferred tax assets or liabilities in respect of Pillar Two.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-566": { "value": "
(i) Income tax, including deferred income tax \u2013 Notes 13 and 25
Income tax comprises current and deferred tax. Income tax is recognised in
the income statement except to the extent that it relates to items recognised
in other comprehensive income, in which case it is\u00a0recognised in other
comprehensive income. Income tax relating to items in equity is recognised
directly in equity. However, the income tax consequences of payments on
financial instruments that are classified as equity but treated as liabilities for
tax purposes are recognised in profit or loss if those payments are
distributions of profits previously recognised in profit or loss.
Current tax is the expected tax payable on the taxable income for the year
using tax rates enacted or substantively enacted at the reporting date and
any adjustment to tax payable in respect of previous years.
Deferred income tax is provided on temporary differences between the tax
bases of assets and liabilities and their carrying amounts for financial
reporting purposes that exist at the balance sheet date. Deferred income
tax is determined using tax rates based on legislation enacted or
substantively enacted at the reporting date and is expected to apply when
the deferred tax asset is realised or the deferred tax liability is settled.
Deferred income tax assets are recognised when it is probable that future
taxable profits will be available against which the temporary differences
will be utilised. The deferred tax asset is reviewed at the end of each
reporting period and the carrying amount will reflect the extent that it is
probable that sufficient taxable profits will be available to allow all of the
asset to be recovered.
The tax effects of income tax losses available for carry forward are
recognised as an asset to the extent that it is probable that future taxable
profits will be available against which these losses can be utilised.
Deferred and current tax assets and liabilities are only offset when they
arise in the same tax reporting group and where there is both the legal right
and the intention to settle the current tax assets and liabilities on a net
basis or to realise the asset and settle the liability simultaneously.
The principal temporary differences arise from the depreciation of property,
plant and equipment, revaluation of certain financial assets and financial
liabilities including derivative contracts, provisions for expected credit
losses on financial instruments, provisions for pensions and other post-
retirement benefits, and in relation to acquisitions, on the difference
between the fair values of the net assets acquired and their tax base.
Deferred income tax is provided on temporary differences arising from
investments in subsidiaries and associates, except where the timing of the
reversal of the temporary difference is controlled by the Group and it is
probable that the difference will not reverse in the foreseeable future. In
addition, temporary differences are not provided for assets and liabilities
the initial recognition of which, in a transaction that is not a business
combination, affects neither accounting nor taxable profit.
Income tax payable on profits arising from investments in subsidiaries and
associates, based on the applicable tax law in each jurisdiction, is
recognised as an expense in the period in which the profits arise.
The Group adopted the amendments to IAS 12 International Tax Reform \u2013
Pillar Two Model Rules. The amendments provide a mandatory temporary
exception from the requirement to recognise and disclose deferred taxes
arising from enacted or substantively enacted tax law that implements the
Pillar Two\u00a0model rules. Accordingly, the Group has not recognised any
changes to its deferred tax assets or liabilities in respect of Pillar Two.
Deferred taxation
The Group\u2019s accounting policy for deferred tax is set out in accounting
policy (i) in note 1. Details of the Group\u2019s deferred tax assets and liabilities
are set out in note 25.
The Group\u2019s key judgement in relation to the recoverability of deferred tax
assets for unused tax losses is that it is probable that there will be
sufficient future taxable profits against which those losses can be used:
\u2022 The disclosed estimated utilisation period for those losses in Ireland
is within the timeframe that taxable profits are considered probable;
and
\u2022 Taxable profits are considered more likely than not in the UK for
a\u00a0period of 15 years.
Deferred tax assets are recognised for unused tax losses to the extent that it is
probable that there will be sufficient future taxable profits against which the
losses can be used. For a company with a history of\u00a0recent losses, there must
be other convincing evidence to underpin this assessment.
The recognition of these deferred tax assets relies on the assessment of
future profitability and the sufficiency of those profits to absorb losses
carried forward. It requires significant judgements to be made about the
projection of long-term future profitability because of the period over
which recovery extends.
In assessing the future profitability of the Group, the Board has considered
a range of positive and negative evidence for this purpose. Among this
evidence, the principal positive factors include:
\u2022 AIB as a pillar bank with a strong Irish franchise;
\u2022 The absence of any expiry dates for Irish and UK tax losses;
\u2022 The turnaround evident in the Group's financial performance over the
years 2021-2025;
\u2022 The changing banking landscape in Ireland;
\u2022 The Irish economy remained robust in 2025, with growth accelerating
sharply mostly due to developments in the export sector;
\u2022 External economic forecasts for Ireland, with growth forecasted for
2026;
\u2022 The introduction of the bank resolution framework under the BRRD and
the establishment in 2017 of AIB Group plc as the new holding
company of the Group. This provides greater confidence in relation to
the future viability of Allied Irish Banks, p.l.c. (as the principal operating
bank subsidiary) as there are now effective tools in place that should
facilitate its recapitalisation in a future crisis; and
\u2022 The non-enduring nature of the loan impairments at levels which
resulted in the losses between 2009 and 2013.
The Board also considered negative evidence and the inherent
uncertainties in any long-term financial assumptions and projections,
including:
\u2022 The absolute level of deferred tax assets compared to the Group\u2019s
equity;
\u2022 The quantum of profits required to be earned and the extended period
over which it is projected that the tax losses will be utilised;
\u2022 The challenge of forecasting over a long period, taking account of the
changing level of competition, and the evolving interest rate environment;
\u2022 The globalised nature of the Irish economy and its exposure to
macroeconomic headwinds and geopolitical issues; and
\u2022 Taxation changes (including Organisation for Economic Co-operation
and Development (OECD) tax reform) and the likelihood of future
developments and their impact on profitability.
Taking account of all relevant factors, and in the absence of any expiry
date for tax losses in Ireland, it is more likely than not that there will be
future profits in the medium term, and beyond, in the relevant Irish Group
companies against which to use the tax losses. In this regard, the\u00a0Group
has carried out an exercise to determine the likely number of\u00a0years
required to utilise the deferred tax asset under the following scenario.
Using the Group\u2019s financial plan 2026 to 2028 as a base and a profit
growth rate of 2% from 2028, it was assessed that it will take less than 7
years for the Irish deferred tax asset to be utilised. If the growth rate
assumption was decreased by 1%, then the utilisation period would
increase by less than 1 year. The Group\u2019s analysis of this and other
scenarios examined would not alter the basis of recognition or the current
carrying value. In 2024, the Group reported that it expected that it would
take less than 10 years for the deferred tax asset to be utilised.
Given the relative size of the Group\u2019s operations in the UK compared
to\u00a0the role that the Irish operations play in supporting a functioning
banking environment, a different judgement has been applied to the
period that taxable profits are considered more likely than not in the UK.
Despite the absence of any expiry date for tax losses in the UK, the Group
has concluded that the recognition of deferred tax assets in its UK
subsidiary be limited to the amount projected to be realised within a time
period of 15 years. This is the timescale within which the Group believes
that it can assess the likelihood of its UK profits arising as being more
likely than not.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-569": { "value": "
(j) Financial assets \u2013 Notes 6, 7, 8, 14, 16, 17, 18, 20, 24 and 41
Recognition and initial measurement
The Group initially recognises financial assets on the trade date, being the
date on which the Group commits to purchase the assets. Loan assets
are recognised when cash is advanced to borrowers. In a situation where
the Group commits to purchase financial assets under a contract which is
not considered a regular-way transaction, the assets to be acquired are
not recognised until the acquisition contract is settled. In this case, the
contract to acquire the financial asset is a derivative that is measured at
FVTPL in the period between the trade date and the settlement date.
Financial assets measured at amortised cost or at fair value through other
comprehensive income (FVOCI) are recognised initially at fair value adjusted
for direct and incremental transaction costs. Financial assets measured at
fair value through profit or loss (FVTPL) are recognised initially at fair value
and transaction costs are taken directly to the income statement.
Derivatives are measured initially at fair value on the date on which the
derivative contract is entered into. The best evidence of the fair value of a
derivative at initial recognition is the transaction price (i.e. the fair value of
the consideration given or received) unless the fair value of that
instrument is evidenced by comparison with other observable current
market transactions in the same instrument (i.e. without modification or
repackaging) or based on a valuation technique whose variables include
only data from observable markets. Profits or losses are only recognised
on the initial recognition of derivatives when there are observable current
market transactions or valuation techniques that are based on observable
market inputs.
Classification and subsequent measurement
On initial recognition, a financial asset is classified and subsequently
measured at amortised cost, FVOCI or FVTPL.
The classification and subsequent measurement of financial assets
depend on:
\u2022 The Group\u2019s business model for managing the asset; and
\u2022 The cash flow characteristics of the asset (for assets in a
\u2018hold\u2011to\u2011collect\u2019 or \u2018hold-to-collect-and-sell\u2019 business model).
Based on these factors, the Group classifies its financial assets into one
of the following categories:
\u2013 Amortised cost
Assets that have not been designated as at FVTPL, and are held within a
\u2018hold-to-collect\u2019 business model whose objective is to hold assets to
collect contractual cash flows; and whose contractual terms give rise on
specified dates to cash flows that are solely payments of principal and
interest (SPPI). The carrying amount of these assets is calculated using the
effective interest rate method and is adjusted on each measurement date
by the expected credit loss allowance for each asset, with movements
recognised in profit or loss.
\u2013 Fair value through other comprehensive income (FVOCI)
Assets that have not been designated as at FVTPL, and are held within a
\u2018hold-to-collect-and-sell\u2019 business model whose objective is achieved by
both collecting contractual cash flows and selling financial assets; and
whose contractual terms give rise on specified dates to cash flows that
are SPPI. Movements in the carrying amount of these assets are taken
through other comprehensive income (OCI), except for the recognition of
credit impairment gains or losses, interest revenue or foreign exchange
gains and losses, which are recognised in profit or loss. When a financial
asset is derecognised, the cumulative gain or loss previously recognised
in OCI is reclassified from equity to profit or loss other than in the case of
equity instruments designated at\u00a0FVOCI.
1\u00a0 Accounting policies continued
(j) Financial assets continued
\u2013 Fair value through profit or loss (FVTPL)
Financial assets that do not meet the criteria for amortised cost or FVOCI are
measured at FVTPL. Gains or losses (excluding interest income or expense)
on such assets are recognised in profit or loss on an ongoing basis.
In addition, the Group may irrevocably designate a financial asset as at
FVTPL that otherwise meets the requirements to be measured at
amortised cost or at FVOCI if doing so eliminates or significantly reduces
an accounting mismatch that would otherwise arise.
Business model assessment
The Group makes an assessment of the objective of the business model
at a portfolio level, as this reflects how portfolios of assets are managed to
achieve a particular objective, rather than management\u2019s intentions for
individual assets.
The assessment considers the following:
\u2022 The strategy for the portfolio as communicated by management;
\u2022 How the performance of the portfolio is evaluated and reported to
senior management;
\u2022 The risks that impact the performance of the business model, and how
those risks are managed;
\u2022 How managers of the business are compensated (i.e. based on fair
value of assets managed or on the contractual cash flows collected);
and
\u2022 The frequency, value and timing of sales in prior periods, reasons for
those sales, and expectations of future sales activity.
Financial assets that are held for trading or managed within a business
model that is evaluated on a fair value basis are measured at FVTPL
because the business objective is neither hold-to-collect contractual cash
flows nor hold-to-collect-and-sell contractual cash flows.
Characteristics of the contractual cash flows
An assessment (SPPI test) is performed on all financial assets at
origination that are held within a \u2018hold-to-collect\u2019 or \u2018hold-to-collect-and-
sell\u2019 business model to determine whether the contractual terms of the
financial assets give rise on specified dates to cash flows that are solely
payments of principal and interest on the principal outstanding. For the
purposes of this assessment, \u2018principal\u2019 is defined as the fair value of the
financial asset at initial recognition. \u2018Interest\u2019 is defined as consideration
for the time value of money, for the credit risk associated with the
principal amount outstanding, for other basic lending risks and costs (i.e.
liquidity, administrative costs) and profit margin.
The SPPI test requires an assessment of the contractual terms and
conditions to determine whether a financial asset contains any terms that
could modify the timing or amount of contractual cash flows of the asset,
to the extent that they could not be described as solely payments of
principal and interest. In making this assessment, the Group considers:
\u2022 Features that modify the time value of money element of interest (e.g.
tenor of the interest rate does not correspond with the frequency within
which it resets);
\u2022 Terms providing for prepayment and extension;
\u2022 Leverage features;
\u2022 Non-recourse features;
\u2022 Contingent events that could change the amount and timing of
cash\u00a0flows;
\u2022 Terms that limit the Group\u2019s claim to cash flows from specified assets;
and
\u2022 Contractually linked instruments.
Contractual terms that introduce exposure to risks or volatility in the
contractual cash flows that are unrelated to a basic lending arrangement
do not give rise to contractual cash flows that are solely payments of
principal and interest on the principal amount outstanding.
Investments in equity instruments
Equity instruments are classified and measured at FVTPL with gains and
losses reflected in profit or loss.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-568": { "value": "
(j) Financial assets \u2013 Notes 6, 7, 8, 14, 16, 17, 18, 20, 24 and 41
Recognition and initial measurement
The Group initially recognises financial assets on the trade date, being the
date on which the Group commits to purchase the assets. Loan assets
are recognised when cash is advanced to borrowers. In a situation where
the Group commits to purchase financial assets under a contract which is
not considered a regular-way transaction, the assets to be acquired are
not recognised until the acquisition contract is settled. In this case, the
contract to acquire the financial asset is a derivative that is measured at
FVTPL in the period between the trade date and the settlement date.
Financial assets measured at amortised cost or at fair value through other
comprehensive income (FVOCI) are recognised initially at fair value adjusted
for direct and incremental transaction costs. Financial assets measured at
fair value through profit or loss (FVTPL) are recognised initially at fair value
and transaction costs are taken directly to the income statement.
Derivatives are measured initially at fair value on the date on which the
derivative contract is entered into. The best evidence of the fair value of a
derivative at initial recognition is the transaction price (i.e. the fair value of
the consideration given or received) unless the fair value of that
instrument is evidenced by comparison with other observable current
market transactions in the same instrument (i.e. without modification or
repackaging) or based on a valuation technique whose variables include
only data from observable markets. Profits or losses are only recognised
on the initial recognition of derivatives when there are observable current
market transactions or valuation techniques that are based on observable
market inputs.
Classification and subsequent measurement
On initial recognition, a financial asset is classified and subsequently
measured at amortised cost, FVOCI or FVTPL.
The classification and subsequent measurement of financial assets
depend on:
\u2022 The Group\u2019s business model for managing the asset; and
\u2022 The cash flow characteristics of the asset (for assets in a
\u2018hold\u2011to\u2011collect\u2019 or \u2018hold-to-collect-and-sell\u2019 business model).
Based on these factors, the Group classifies its financial assets into one
of the following categories:
\u2013 Amortised cost
Assets that have not been designated as at FVTPL, and are held within a
\u2018hold-to-collect\u2019 business model whose objective is to hold assets to
collect contractual cash flows; and whose contractual terms give rise on
specified dates to cash flows that are solely payments of principal and
interest (SPPI). The carrying amount of these assets is calculated using the
effective interest rate method and is adjusted on each measurement date
by the expected credit loss allowance for each asset, with movements
recognised in profit or loss.
\u2013 Fair value through other comprehensive income (FVOCI)
Assets that have not been designated as at FVTPL, and are held within a
\u2018hold-to-collect-and-sell\u2019 business model whose objective is achieved by
both collecting contractual cash flows and selling financial assets; and
whose contractual terms give rise on specified dates to cash flows that
are SPPI. Movements in the carrying amount of these assets are taken
through other comprehensive income (OCI), except for the recognition of
credit impairment gains or losses, interest revenue or foreign exchange
gains and losses, which are recognised in profit or loss. When a financial
asset is derecognised, the cumulative gain or loss previously recognised
in OCI is reclassified from equity to profit or loss other than in the case of
equity instruments designated at\u00a0FVOCI.
1\u00a0 Accounting policies continued
(j) Financial assets continued
\u2013 Fair value through profit or loss (FVTPL)
Financial assets that do not meet the criteria for amortised cost or FVOCI are
measured at FVTPL. Gains or losses (excluding interest income or expense)
on such assets are recognised in profit or loss on an ongoing basis.
In addition, the Group may irrevocably designate a financial asset as at
FVTPL that otherwise meets the requirements to be measured at
amortised cost or at FVOCI if doing so eliminates or significantly reduces
an accounting mismatch that would otherwise arise.
Business model assessment
The Group makes an assessment of the objective of the business model
at a portfolio level, as this reflects how portfolios of assets are managed to
achieve a particular objective, rather than management\u2019s intentions for
individual assets.
The assessment considers the following:
\u2022 The strategy for the portfolio as communicated by management;
\u2022 How the performance of the portfolio is evaluated and reported to
senior management;
\u2022 The risks that impact the performance of the business model, and how
those risks are managed;
\u2022 How managers of the business are compensated (i.e. based on fair
value of assets managed or on the contractual cash flows collected);
and
\u2022 The frequency, value and timing of sales in prior periods, reasons for
those sales, and expectations of future sales activity.
Financial assets that are held for trading or managed within a business
model that is evaluated on a fair value basis are measured at FVTPL
because the business objective is neither hold-to-collect contractual cash
flows nor hold-to-collect-and-sell contractual cash flows.
Characteristics of the contractual cash flows
An assessment (SPPI test) is performed on all financial assets at
origination that are held within a \u2018hold-to-collect\u2019 or \u2018hold-to-collect-and-
sell\u2019 business model to determine whether the contractual terms of the
financial assets give rise on specified dates to cash flows that are solely
payments of principal and interest on the principal outstanding. For the
purposes of this assessment, \u2018principal\u2019 is defined as the fair value of the
financial asset at initial recognition. \u2018Interest\u2019 is defined as consideration
for the time value of money, for the credit risk associated with the
principal amount outstanding, for other basic lending risks and costs (i.e.
liquidity, administrative costs) and profit margin.
The SPPI test requires an assessment of the contractual terms and
conditions to determine whether a financial asset contains any terms that
could modify the timing or amount of contractual cash flows of the asset,
to the extent that they could not be described as solely payments of
principal and interest. In making this assessment, the Group considers:
\u2022 Features that modify the time value of money element of interest (e.g.
tenor of the interest rate does not correspond with the frequency within
which it resets);
\u2022 Terms providing for prepayment and extension;
\u2022 Leverage features;
\u2022 Non-recourse features;
\u2022 Contingent events that could change the amount and timing of
cash\u00a0flows;
\u2022 Terms that limit the Group\u2019s claim to cash flows from specified assets;
and
\u2022 Contractually linked instruments.
Contractual terms that introduce exposure to risks or volatility in the
contractual cash flows that are unrelated to a basic lending arrangement
do not give rise to contractual cash flows that are solely payments of
principal and interest on the principal amount outstanding.
Investments in equity instruments
Equity instruments are classified and measured at FVTPL with gains and
losses reflected in profit or loss.
(k) Financial liabilities and equity \u2013 Notes 6, 14, 27, 28, 29, 31, 32 and 41
The Group categorises financial liabilities as at amortised cost or as at FVTPL.
The Group recognises a financial liability when it becomes party to the
contractual provisions of the contract.
Issued financial instruments or their components are classified as
liabilities where the substance of the contractual arrangement results in
the Group having a present obligation to either deliver cash or another
financial asset to the holder, to exchange financial instruments on terms
that are potentially unfavourable or to satisfy the obligation otherwise than
by the exchange of a fixed amount of cash or another financial asset for a
fixed number of equity shares.
Financial liabilities are initially recognised at fair value, being their issue
proceeds (fair value of consideration received), net of transaction costs
incurred. Financial liabilities are subsequently measured at amortised
cost, with any difference between the proceeds net of transaction costs
and the redemption value recognised in the income statement using the
effective interest rate method.
Where financial liabilities are classified as trading they are also initially
recognised at fair value with the related transaction costs taken directly to
the income statement. Gains and losses arising from subsequent changes
in fair value are recognised directly in the income statement within net
trading income.
Issued financial instruments are classified as equity when the Group has
no contractual obligation to transfer cash, or other financial assets, or to
issue a variable number of its own equity instruments. Incremental costs
directly attributable to the issue of equity instruments are shown as a
deduction from the proceeds of issue, net of tax.
On the extinguishment of equity instruments, gains or losses arising are
recognised net of tax directly in the statement of changes in equity.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-570": { "value": "
\u2013 Fair value through profit or loss (FVTPL)
Financial assets that do not meet the criteria for amortised cost or FVOCI are
measured at FVTPL. Gains or losses (excluding interest income or expense)
on such assets are recognised in profit or loss on an ongoing basis.
In addition, the Group may irrevocably designate a financial asset as at
FVTPL that otherwise meets the requirements to be measured at
amortised cost or at FVOCI if doing so eliminates or significantly reduces
an accounting mismatch that would otherwise arise.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-571": { "value": "
(k) Financial liabilities and equity \u2013 Notes 6, 14, 27, 28, 29, 31, 32 and 41
The Group categorises financial liabilities as at amortised cost or as at FVTPL.
The Group recognises a financial liability when it becomes party to the
contractual provisions of the contract.
Issued financial instruments or their components are classified as
liabilities where the substance of the contractual arrangement results in
the Group having a present obligation to either deliver cash or another
financial asset to the holder, to exchange financial instruments on terms
that are potentially unfavourable or to satisfy the obligation otherwise than
by the exchange of a fixed amount of cash or another financial asset for a
fixed number of equity shares.
Financial liabilities are initially recognised at fair value, being their issue
proceeds (fair value of consideration received), net of transaction costs
incurred. Financial liabilities are subsequently measured at amortised
cost, with any difference between the proceeds net of transaction costs
and the redemption value recognised in the income statement using the
effective interest rate method.
Where financial liabilities are classified as trading they are also initially
recognised at fair value with the related transaction costs taken directly to
the income statement. Gains and losses arising from subsequent changes
in fair value are recognised directly in the income statement within net
trading income.
Issued financial instruments are classified as equity when the Group has
no contractual obligation to transfer cash, or other financial assets, or to
issue a variable number of its own equity instruments. Incremental costs
directly attributable to the issue of equity instruments are shown as a
deduction from the proceeds of issue, net of tax.
On the extinguishment of equity instruments, gains or losses arising are
recognised net of tax directly in the statement of changes in equity.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-572": { "value": "
(l) Leases \u2013 Notes 23 and 30
The Group applies a single recognition and measurement approach for all
leases, except for short-term leases of 12 months or less or leases of low-
value assets (i.e. the value of the underlying asset, when new, is less than
\u20ac5,000/\u00a35,000). The Group recognises lease liabilities that represent the
present value of lease payments to be made over the lease term and right-
of-use assets representing the right to use the underlying assets.
Right-of-use assets
The Group recognises right-of-use assets at the commencement date of
the lease (i.e. the date the underlying asset is available for use). Right-of-
use assets are measured at cost, less any accumulated depreciation and
impairment losses, and adjusted for any remeasurement of lease liabilities.
The cost of right-of-use assets includes the amount of lease liabilities
recognised, initial direct costs incurred, an estimate of any costs to
dismantle and remove the asset at the end of the lease and lease payments
made at or before the commencement date less any lease incentives
received. Right-of-use assets are depreciated on a straight-line basis over
the lease term.
1\u00a0 Accounting policies continued
(l) Leases continued
Lease liabilities
At the commencement date of the lease, the Group recognises lease
liabilities measured at the present value of lease payments to be made
over the lease term. The lease payments include fixed payments (less any
lease incentives receivable), variable lease payments that depend on an
index or a rate, and amounts expected to be paid under residual value
guarantees. The lease payments also include the exercise price of a
purchase option reasonably certain to be exercised by the Group and
payments of penalties for terminating the lease, if the lease term reflects
exercising the option to terminate. Variable lease payments that do not
depend on an index or a rate are recognised as expenses in the period in
which the event or condition that triggers the payment occurs.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-573": { "value": "
(m) Determination of fair value of financial instruments \u2013 Note 42
The fair value of a financial instrument is the price that would be received
to sell an asset or paid to transfer a liability in an orderly transaction
between market participants at the measurement date in the principal
market, or in its absence, the most advantageous market to which the
Group has access at that date. The Group considers the impact of non-
performance risk when valuing its financial liabilities.
Financial instruments are initially recognised at fair value and, with the
exception of financial assets at fair value through profit or loss, the initial
carrying amount is adjusted for direct and incremental transaction costs.
In the normal course of business, the fair value on initial recognition is the
transaction price (fair value of consideration given or received). If the
Group determines that the fair value at initial recognition differs from the
transaction price and the fair value is determined by a quoted price in an
active market for the same financial instrument, or by a valuation
technique which uses only observable market inputs, the difference
between the fair value at initial recognition and the transaction price is
recognised as a gain or loss. If the fair value is calculated by a valuation
technique that features significant market inputs that are not observable,
the difference between the fair value at initial recognition and the
transaction price is deferred. Subsequently, the difference is recognised in
the income statement on an appropriate basis over the life of the financial
instrument, but no later than when the valuation is supported by wholly
observable inputs; the transaction matures; or is closed\u00a0out.
Subsequent to initial recognition, the methods used to determine the fair
value of financial instruments include quoted prices in active markets where
those prices are considered to represent actual and regularly occurring
market transactions. Where quoted prices are not available or are unreliable
because of market inactivity, and in the case of over-the-counter
derivatives, fair values are determined using valuation techniques.
The fair values of financial instruments are classified according to the
following fair value hierarchy that reflects the observability of significant
market inputs:
Level 1 \u2013 financial assets and liabilities measured using quoted market
prices from an active market (unadjusted);
Level 2 \u2013 financial assets and liabilities measured using valuation
techniques which use quoted market prices from an active market or
measured using quoted market prices unadjusted from an inactive
market; and
Level 3 \u2013 financial assets and liabilities measured using valuation
techniques which use unobservable market inputs.
Quoted prices in active markets
Valuations for negotiable instruments such as debt and equity securities
are determined using bid prices for asset positions and ask prices for
liability positions.
Where securities are traded on an exchange, the fair value is based on
prices from the exchange. The market for debt securities largely operates
on an \u2018over-the-counter\u2019 basis which means that there is not an official
clearing or exchange price for these security instruments. Therefore,
market makers and/or investment banks (contributors) publish bid and
ask levels which reflect an indicative price that they are prepared to buy
and sell a\u00a0particular security. The Group\u2019s valuation policy requires that
the prices used in determining the fair value of securities quoted in active
markets must be sourced from established market makers and/or
investment banks.
Valuation techniques
Valuation techniques maximise the use of relevant observable inputs and
minimise the use of unobservable inputs. The valuation techniques used
incorporate the factors that market participants would take into account
in pricing a transaction. Valuation techniques include the use of recent
orderly transactions between market participants, reference to other
similar instruments, option pricing models, discounted cash flow analysis
and other valuation techniques commonly used by market participants.
Fair value may be estimated using quoted market prices for similar
instruments, adjusted for differences between the quoted instrument and
the instrument being valued. Where the fair value is calculated using
discounted cash flow analysis, the methodology is to use, to the greatest
extent possible, market data that is either directly observable or is implied
from instrument prices, such as interest rate yield curves, equities and
commodities prices, credit spreads, option volatilities and currency rates.
In addition, the Group considers the impact of its own credit risk and
counterparty risk when valuing its derivative liabilities.
The valuation methodology is to calculate the expected cash flows under
the terms of each specific contract and then discount these values back
to a present value. The assumptions involved in these valuation
techniques include:
\u2022 The likelihood and expected timing of future cash flows of the
instrument. These cash flows are generally governed by the terms of the
instrument, although management judgement may be required when
the ability of the counterparty to service the instrument in accordance
with the contractual terms is in doubt. In addition, future cash flows
may also be sensitive to the occurrence of future events, including
changes in market rates; and
\u2022 Selecting an appropriate discount rate for the instrument, based on the
interest rate yield curves including the determination of an appropriate
spread for the instrument over the risk-free rate. The spread is adjusted
to take into account the specific credit risk profile of the exposure.
All adjustments in the calculation of the present value of future cash flows
are based on factors market participants would take into account in
pricing the financial instrument. Certain financial instruments
(both\u00a0assets and liabilities) may be valued on the basis of valuation
techniques that feature one or more significant market inputs that are not
observable. When applying a valuation technique with unobservable data,
estimates are made to reflect uncertainties in fair values resulting from a
lack of market data, for example, as a result of illiquidity in the market. For
these instruments, the fair value measurement is less reliable. Inputs into
valuations based on non-observable data are inherently uncertain
because there is little or no current market data available from which to
determine the price at which an orderly transaction between market
participants would occur under current market conditions. However, in
most cases there is some market data available on which to base a
determination of fair value, for example historical data, and the fair values
of most financial instruments will be based on some market observable
inputs even where the non-observable inputs are significant. All
unobservable inputs used in valuation techniques reflect the assumptions
market participants would use when fair valuing the financial instrument.
1\u00a0 Accounting policies continued
(m) Determination of fair value of financial instruments continued
The Group tests the outputs of the valuation model to ensure that it
reflects current market conditions. The calculation of fair value for any
financial instrument may require adjustment of the quoted price or the
valuation technique output to reflect the cost of credit risk and the
liquidity of the market, if market participants would include one, where
these are not embedded in underlying valuation techniques or prices
used. The choice of contributors, the quality of market data used for
pricing and the valuation techniques used are all subject to internal review
and approval procedures.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-574": { "value": "If the
Group determines that the fair value at initial recognition differs from the
transaction price and the fair value is determined by a quoted price in an
active market for the same financial instrument, or by a valuation
technique which uses only observable market inputs, the difference
between the fair value at initial recognition and the transaction price is
recognised as a gain or loss. If the fair value is calculated by a valuation
technique that features significant market inputs that are not observable,
the difference between the fair value at initial recognition and the
transaction price is deferred. Subsequently, the difference is recognised in
the income statement on an appropriate basis over the life of the financial
instrument, but no later than when the valuation is supported by wholly
observable inputs; the transaction matures; or is closed\u00a0out.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognisingDifferenceBetweenFairValueAtInitialRecognitionAndAmountDeterminedUsingValuationTechniqueExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-575": { "value": "
(n) Securities financing \u2013 Notes 18 and 40
When securities are purchased subject to a commitment to resell (reverse
repurchase agreement), or where the Group borrows securities, but does
not acquire the risks and rewards of ownership, the transactions are
treated as collateralised loans, and the securities are not usually included
in the statement of financial position. The exception to this is where these
are sold to third parties, at which point the obligation to repurchase the
securities is recorded as a trading liability at fair value and any subsequent
gain or loss included in trading income.
Similarly, financial assets may be lent or sold subject to a commitment to
repurchase them (repurchase agreement). Such securities are retained on
the statement of financial position when substantially all the risks and
rewards of ownership remain with the Group. The liability to the
counterparty is included separately on the statement of financial position.
The difference between the sale and repurchase price for securities
financing transactions is accrued over the life of the agreements using the
effective interest rate method.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRepurchaseAndReverseRepurchaseAgreementsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-577": { "value": "
(o) Derivatives and hedge accounting \u2013 Note 15
Derivatives, such as interest rate swaps, options and forward rate
agreements, futures, currency swaps and options, credit and equity
derivatives are used for trading purposes whereas interest rate swaps,
currency swaps, cross currency interest rate swaps and credit derivatives
are used for hedge accounting purposes.
The Group maintains trading positions in a variety of financial instruments
including derivatives. Trading transactions arise both as a result of activity
generated by customers and from proprietary trading with a view to
generating incremental income.
Non-trading derivative transactions comprise transactions held for
hedging purposes as part of the Group\u2019s risk management strategy against
assets, liabilities, positions and cash flows.
Derivatives are measured initially at fair value on the date on which the
derivative contract is entered into and subsequently remeasured at fair
value. Fair values are obtained from quoted market prices in active
markets, including recent market transactions, and from valuation
techniques using discounted cash flow models and option pricing models
as appropriate. Derivatives are included in assets when their fair value is
positive, and in liabilities when their fair value is negative, unless there is
the legal ability and intention to settle an asset and liability on a net basis.
The best evidence of the fair value of a derivative at initial recognition is the
transaction price (i.e. the fair value of the consideration given or received)
unless the fair value of that instrument is evidenced by comparison with
other observable current market transactions in the same instrument (i.e.
without modification or repackaging) or based on a valuation technique
whose variables include only data from observable markets.
Profits or losses are only recognised on initial recognition of derivatives
when there are observable current market transactions or valuation
techniques that are based on observable market inputs.
Hedging
The Group avails of the hedge accounting requirements of IAS 39
Financial Instruments: Recognition and Measurement (IAS 39) as adopted
by the EU, until Dynamic Risk Management is addressed by the IASB, as
permitted as an accounting policy choice under IFRS 9 Financial
Instruments (IFRS 9).
All derivatives are carried at fair value and the accounting treatment of the
resulting fair value gain or loss depends on whether the derivative is
designated as a hedging instrument, and if so, the nature of the item being
hedged. Where derivatives are held for risk management purposes, and
where transactions meet the criteria specified in IAS 39, the Group
designates certain derivatives as either:
\u2022 Hedges of the fair value of recognised assets or liabilities or firm
commitments (fair value hedge); or
\u2022 Hedges of the exposure to variability of cash flows attributable to a
recognised asset or liability, or a highly probable forecasted transaction
(cash flow hedge); or
\u2022 Hedges of a net investment in a foreign operation.
When a financial instrument is designated as a hedge, the Group formally
documents the relationship between the hedging instrument and hedged
item as well as its risk management objectives and its strategy for
undertaking the various hedging transactions. The Group also documents its
assessment, both at hedge inception and on an ongoing basis, of whether
the derivatives that are used in hedging transactions are highly effective in
offsetting changes in fair values or cash flows of the hedged items.
The Group discontinues hedge accounting when:
(a) it is determined that a derivative is not, or has ceased to be, highly
effective as a hedge;
(b) the derivative expires, or is sold, terminated or exercised;
(c) the hedged item matures or is sold or repaid; or
(d) a forecast transaction is no longer deemed highly probable.
To the extent that the changes in the fair value of the hedging derivative
differ from changes in the fair value of the hedged risk in the hedged item,
or the cumulative change in the fair value of the hedging derivative differs
from the cumulative change in the fair value of expected future cash flows
of the hedged item, ineffectiveness arises. The amount of ineffectiveness,
taking into account the timing of the expected cash flows where relevant,
provided that it is not so great as to disqualify the entire hedge for hedge
accounting, is recorded in the income statement.
In certain circumstances, the Group may decide to cease hedge
accounting even though the hedge relationship continues to be highly
effective by no longer designating the financial instrument as a hedge.
Fair value hedge accounting
Changes in fair value of derivatives that qualify and are designated as fair
value hedges are recorded in the income statement, together with
changes in the fair value of the hedged asset or liability that are
attributable to the hedged risk.
For micro fair value hedges, the hedge adjustment is presented as an
adjustment to the carrying amount of the hedged item. For portfolio fair
value hedges, the aggregated fair value changes in the portfolio of hedged
items are recognised in a single separate line item within liabilities when
the hedged portfolio consists of liabilities, or within assets when the
hedged portfolio consists of assets.
If the hedge no longer meets the criteria for hedge accounting, the fair value
hedging adjustment, for items carried at amortised cost, is amortised to
profit or loss using the effective interest rate method over the remaining
maturity of the hedged item for micro hedges, and on a straight-line basis
over the relevant repricing period for portfolio hedges. For debt securities
measured at FVOCI, the fair value adjustment for hedged items is recognised
in the income statement using the effective interest rate method.
1\u00a0 Accounting policies continued
(o) Derivatives and hedge accounting continued
When a hedged item held at amortised cost that is designated in a micro
fair value hedge or included in the repricing time-period of a portfolio
hedge is derecognised, the unamortised fair value adjustment is
recognised immediately in the income statement.
Cash flow hedge accounting
The Group enters into portfolio cash flow hedges. The effective portion of
changes in the fair value of derivatives that are designated and qualify as
cash flow hedges is initially recognised directly in other comprehensive
income and included in the cash flow hedging reserve in the statement
of changes in equity. The amount recognised in other comprehensive
income is reclassed to profit or loss as a reclassification adjustment in the
same period as the hedged cash flows affect profit or loss, and in the
same line item in the statement of comprehensive income. Any ineffective
portion of the gain or loss on the hedging instrument is recognised in the
income statement immediately.
When a hedging instrument expires or is sold, or when a hedge no longer
meets the criteria for hedge accounting, any cumulative gain or loss
recognised in other comprehensive income from the time when the
hedge was effective remains in equity and is reclassified to the income
statement as a reclassification adjustment as the forecast transaction
affects profit or loss. When a forecast transaction is no longer expected
to occur, the cumulative gain or loss that was recognised in other
comprehensive income from the period when the hedge was effective is
reclassified to the income statement.
The cash flow hedging reserves are adjusted to the lower of either the
cumulative gain or loss on the hedging instrument or the cumulative
change in fair value (present value) of the hedged item from inception of
the hedge. The portion that is offset by the change in the cash flow hedging
reserves is recognised in other comprehensive income with any hedge
ineffectiveness recognised in the income statement.
Net investment hedge
Hedges of net investments in foreign operations, including monetary items
that are accounted for as part of the net investment, are accounted for
similarly to cash flow hedges. The effective portion of the gain or loss on
the hedging instrument is recognised in other comprehensive income and
the ineffective portion is recognised immediately in the income statement.
The cumulative gain or loss previously recognised in other comprehensive
income is recognised in the income statement on the disposal or partial
disposal of the foreign operation. Hedges of net investments may include
non-derivative liabilities as well as derivative financial instruments.
Derivatives that do not qualify for hedge accounting
Certain derivative contracts entered into as economic hedges do not
qualify for hedge accounting and are classified as trading derivatives.
Changes in the fair value of these derivative instruments are recognised
immediately in the income statement.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-576": { "value": "
(o) Derivatives and hedge accounting \u2013 Note 15
Derivatives, such as interest rate swaps, options and forward rate
agreements, futures, currency swaps and options, credit and equity
derivatives are used for trading purposes whereas interest rate swaps,
currency swaps, cross currency interest rate swaps and credit derivatives
are used for hedge accounting purposes.
The Group maintains trading positions in a variety of financial instruments
including derivatives. Trading transactions arise both as a result of activity
generated by customers and from proprietary trading with a view to
generating incremental income.
Non-trading derivative transactions comprise transactions held for
hedging purposes as part of the Group\u2019s risk management strategy against
assets, liabilities, positions and cash flows.
Derivatives are measured initially at fair value on the date on which the
derivative contract is entered into and subsequently remeasured at fair
value. Fair values are obtained from quoted market prices in active
markets, including recent market transactions, and from valuation
techniques using discounted cash flow models and option pricing models
as appropriate. Derivatives are included in assets when their fair value is
positive, and in liabilities when their fair value is negative, unless there is
the legal ability and intention to settle an asset and liability on a net basis.
The best evidence of the fair value of a derivative at initial recognition is the
transaction price (i.e. the fair value of the consideration given or received)
unless the fair value of that instrument is evidenced by comparison with
other observable current market transactions in the same instrument (i.e.
without modification or repackaging) or based on a valuation technique
whose variables include only data from observable markets.
Profits or losses are only recognised on initial recognition of derivatives
when there are observable current market transactions or valuation
techniques that are based on observable market inputs.
Hedging
The Group avails of the hedge accounting requirements of IAS 39
Financial Instruments: Recognition and Measurement (IAS 39) as adopted
by the EU, until Dynamic Risk Management is addressed by the IASB, as
permitted as an accounting policy choice under IFRS 9 Financial
Instruments (IFRS 9).
All derivatives are carried at fair value and the accounting treatment of the
resulting fair value gain or loss depends on whether the derivative is
designated as a hedging instrument, and if so, the nature of the item being
hedged. Where derivatives are held for risk management purposes, and
where transactions meet the criteria specified in IAS 39, the Group
designates certain derivatives as either:
\u2022 Hedges of the fair value of recognised assets or liabilities or firm
commitments (fair value hedge); or
\u2022 Hedges of the exposure to variability of cash flows attributable to a
recognised asset or liability, or a highly probable forecasted transaction
(cash flow hedge); or
\u2022 Hedges of a net investment in a foreign operation.
When a financial instrument is designated as a hedge, the Group formally
documents the relationship between the hedging instrument and hedged
item as well as its risk management objectives and its strategy for
undertaking the various hedging transactions. The Group also documents its
assessment, both at hedge inception and on an ongoing basis, of whether
the derivatives that are used in hedging transactions are highly effective in
offsetting changes in fair values or cash flows of the hedged items.
The Group discontinues hedge accounting when:
(a) it is determined that a derivative is not, or has ceased to be, highly
effective as a hedge;
(b) the derivative expires, or is sold, terminated or exercised;
(c) the hedged item matures or is sold or repaid; or
(d) a forecast transaction is no longer deemed highly probable.
To the extent that the changes in the fair value of the hedging derivative
differ from changes in the fair value of the hedged risk in the hedged item,
or the cumulative change in the fair value of the hedging derivative differs
from the cumulative change in the fair value of expected future cash flows
of the hedged item, ineffectiveness arises. The amount of ineffectiveness,
taking into account the timing of the expected cash flows where relevant,
provided that it is not so great as to disqualify the entire hedge for hedge
accounting, is recorded in the income statement.
In certain circumstances, the Group may decide to cease hedge
accounting even though the hedge relationship continues to be highly
effective by no longer designating the financial instrument as a hedge.
Fair value hedge accounting
Changes in fair value of derivatives that qualify and are designated as fair
value hedges are recorded in the income statement, together with
changes in the fair value of the hedged asset or liability that are
attributable to the hedged risk.
For micro fair value hedges, the hedge adjustment is presented as an
adjustment to the carrying amount of the hedged item. For portfolio fair
value hedges, the aggregated fair value changes in the portfolio of hedged
items are recognised in a single separate line item within liabilities when
the hedged portfolio consists of liabilities, or within assets when the
hedged portfolio consists of assets.
If the hedge no longer meets the criteria for hedge accounting, the fair value
hedging adjustment, for items carried at amortised cost, is amortised to
profit or loss using the effective interest rate method over the remaining
maturity of the hedged item for micro hedges, and on a straight-line basis
over the relevant repricing period for portfolio hedges. For debt securities
measured at FVOCI, the fair value adjustment for hedged items is recognised
in the income statement using the effective interest rate method.
1\u00a0 Accounting policies continued
(o) Derivatives and hedge accounting continued
When a hedged item held at amortised cost that is designated in a micro
fair value hedge or included in the repricing time-period of a portfolio
hedge is derecognised, the unamortised fair value adjustment is
recognised immediately in the income statement.
Cash flow hedge accounting
The Group enters into portfolio cash flow hedges. The effective portion of
changes in the fair value of derivatives that are designated and qualify as
cash flow hedges is initially recognised directly in other comprehensive
income and included in the cash flow hedging reserve in the statement
of changes in equity. The amount recognised in other comprehensive
income is reclassed to profit or loss as a reclassification adjustment in the
same period as the hedged cash flows affect profit or loss, and in the
same line item in the statement of comprehensive income. Any ineffective
portion of the gain or loss on the hedging instrument is recognised in the
income statement immediately.
When a hedging instrument expires or is sold, or when a hedge no longer
meets the criteria for hedge accounting, any cumulative gain or loss
recognised in other comprehensive income from the time when the
hedge was effective remains in equity and is reclassified to the income
statement as a reclassification adjustment as the forecast transaction
affects profit or loss. When a forecast transaction is no longer expected
to occur, the cumulative gain or loss that was recognised in other
comprehensive income from the period when the hedge was effective is
reclassified to the income statement.
The cash flow hedging reserves are adjusted to the lower of either the
cumulative gain or loss on the hedging instrument or the cumulative
change in fair value (present value) of the hedged item from inception of
the hedge. The portion that is offset by the change in the cash flow hedging
reserves is recognised in other comprehensive income with any hedge
ineffectiveness recognised in the income statement.
Net investment hedge
Hedges of net investments in foreign operations, including monetary items
that are accounted for as part of the net investment, are accounted for
similarly to cash flow hedges. The effective portion of the gain or loss on
the hedging instrument is recognised in other comprehensive income and
the ineffective portion is recognised immediately in the income statement.
The cumulative gain or loss previously recognised in other comprehensive
income is recognised in the income statement on the disposal or partial
disposal of the foreign operation. Hedges of net investments may include
non-derivative liabilities as well as derivative financial instruments.
Derivatives that do not qualify for hedge accounting
Certain derivative contracts entered into as economic hedges do not
qualify for hedge accounting and are classified as trading derivatives.
Changes in the fair value of these derivative instruments are recognised
immediately in the income statement.
Cash flow hedging reserves
Cash flow hedging reserves represent the net gains or losses, net of tax,
on effective cash flow hedging instruments that will be reclassified to the
income statement when the hedged transaction affects profit or\u00a0loss.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-578": { "value": "
Hedging
The Group avails of the hedge accounting requirements of IAS 39
Financial Instruments: Recognition and Measurement (IAS 39) as adopted
by the EU, until Dynamic Risk Management is addressed by the IASB, as
permitted as an accounting policy choice under IFRS 9 Financial
Instruments (IFRS 9).
All derivatives are carried at fair value and the accounting treatment of the
resulting fair value gain or loss depends on whether the derivative is
designated as a hedging instrument, and if so, the nature of the item being
hedged. Where derivatives are held for risk management purposes, and
where transactions meet the criteria specified in IAS 39, the Group
designates certain derivatives as either:
\u2022 Hedges of the fair value of recognised assets or liabilities or firm
commitments (fair value hedge); or
\u2022 Hedges of the exposure to variability of cash flows attributable to a
recognised asset or liability, or a highly probable forecasted transaction
(cash flow hedge); or
\u2022 Hedges of a net investment in a foreign operation.
When a financial instrument is designated as a hedge, the Group formally
documents the relationship between the hedging instrument and hedged
item as well as its risk management objectives and its strategy for
undertaking the various hedging transactions. The Group also documents its
assessment, both at hedge inception and on an ongoing basis, of whether
the derivatives that are used in hedging transactions are highly effective in
offsetting changes in fair values or cash flows of the hedged items.
The Group discontinues hedge accounting when:
(a) it is determined that a derivative is not, or has ceased to be, highly
effective as a hedge;
(b) the derivative expires, or is sold, terminated or exercised;
(c) the hedged item matures or is sold or repaid; or
(d) a forecast transaction is no longer deemed highly probable.
To the extent that the changes in the fair value of the hedging derivative
differ from changes in the fair value of the hedged risk in the hedged item,
or the cumulative change in the fair value of the hedging derivative differs
from the cumulative change in the fair value of expected future cash flows
of the hedged item, ineffectiveness arises. The amount of ineffectiveness,
taking into account the timing of the expected cash flows where relevant,
provided that it is not so great as to disqualify the entire hedge for hedge
accounting, is recorded in the income statement.
In certain circumstances, the Group may decide to cease hedge
accounting even though the hedge relationship continues to be highly
effective by no longer designating the financial instrument as a hedge.
Fair value hedge accounting
Changes in fair value of derivatives that qualify and are designated as fair
value hedges are recorded in the income statement, together with
changes in the fair value of the hedged asset or liability that are
attributable to the hedged risk.
For micro fair value hedges, the hedge adjustment is presented as an
adjustment to the carrying amount of the hedged item. For portfolio fair
value hedges, the aggregated fair value changes in the portfolio of hedged
items are recognised in a single separate line item within liabilities when
the hedged portfolio consists of liabilities, or within assets when the
hedged portfolio consists of assets.
If the hedge no longer meets the criteria for hedge accounting, the fair value
hedging adjustment, for items carried at amortised cost, is amortised to
profit or loss using the effective interest rate method over the remaining
maturity of the hedged item for micro hedges, and on a straight-line basis
over the relevant repricing period for portfolio hedges. For debt securities
measured at FVOCI, the fair value adjustment for hedged items is recognised
in the income statement using the effective interest rate method.
1\u00a0 Accounting policies continued
(o) Derivatives and hedge accounting continued
When a hedged item held at amortised cost that is designated in a micro
fair value hedge or included in the repricing time-period of a portfolio
hedge is derecognised, the unamortised fair value adjustment is
recognised immediately in the income statement.
Cash flow hedge accounting
The Group enters into portfolio cash flow hedges. The effective portion of
changes in the fair value of derivatives that are designated and qualify as
cash flow hedges is initially recognised directly in other comprehensive
income and included in the cash flow hedging reserve in the statement
of changes in equity. The amount recognised in other comprehensive
income is reclassed to profit or loss as a reclassification adjustment in the
same period as the hedged cash flows affect profit or loss, and in the
same line item in the statement of comprehensive income. Any ineffective
portion of the gain or loss on the hedging instrument is recognised in the
income statement immediately.
When a hedging instrument expires or is sold, or when a hedge no longer
meets the criteria for hedge accounting, any cumulative gain or loss
recognised in other comprehensive income from the time when the
hedge was effective remains in equity and is reclassified to the income
statement as a reclassification adjustment as the forecast transaction
affects profit or loss. When a forecast transaction is no longer expected
to occur, the cumulative gain or loss that was recognised in other
comprehensive income from the period when the hedge was effective is
reclassified to the income statement.
The cash flow hedging reserves are adjusted to the lower of either the
cumulative gain or loss on the hedging instrument or the cumulative
change in fair value (present value) of the hedged item from inception of
the hedge. The portion that is offset by the change in the cash flow hedging
reserves is recognised in other comprehensive income with any hedge
ineffectiveness recognised in the income statement.
Net investment hedge
Hedges of net investments in foreign operations, including monetary items
that are accounted for as part of the net investment, are accounted for
similarly to cash flow hedges. The effective portion of the gain or loss on
the hedging instrument is recognised in other comprehensive income and
the ineffective portion is recognised immediately in the income statement.
The cumulative gain or loss previously recognised in other comprehensive
income is recognised in the income statement on the disposal or partial
disposal of the foreign operation. Hedges of net investments may include
non-derivative liabilities as well as derivative financial instruments.
Derivatives that do not qualify for hedge accounting
Certain derivative contracts entered into as economic hedges do not
qualify for hedge accounting and are classified as trading derivatives.
Changes in the fair value of these derivative instruments are recognised
immediately in the income statement.
Cash flow hedging reserves
Cash flow hedging reserves represent the net gains or losses, net of tax,
on effective cash flow hedging instruments that will be reclassified to the
income statement when the hedged transaction affects profit or\u00a0loss.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-579": { "value": "
(p) Derecognition
Financial assets
The Group derecognises a financial asset when the contractual rights to
the cash flows from the financial asset expire or it transfers the rights to
receive the contractual cash flows in a transaction in which substantially
all of the risks and rewards of ownership of the financial asset are
transferred or in which the Group neither transfers nor retains
substantially all of the risks and rewards of ownership and it does not
retain control of the financial asset.
On derecognition of a financial asset, the difference between the carrying
amount of the asset and the sum of (i) the consideration received
(including any new asset obtained less any new liability assumed) and (ii)
any cumulative gain or loss that had been recognised in OCI is recognised
in profit or loss. Relevant costs incurred with the disposal of a financial
asset are deducted in computing the gain or loss on disposal.
The Group enters into transactions whereby it transfers assets recognised
on its statement of financial position, but retains either all or substantially
all of the risks and rewards of the transferred assets or a portion of them.
In such cases, the transferred assets are not derecognised. Examples of
such transactions are securities sold under agreements to repurchase.
In transactions in which the Group neither retains nor transfers
substantially all of the risks and rewards of ownership of a financial asset
and it retains control over the asset, the Group continues to recognise the
asset to the extent of its continuing involvement, determined by the extent
to which it is exposed to changes in the value of the transferred asset.
In certain transactions, the Group retains the obligation to service the
transferred financial asset for a fee. The transferred asset is derecognised
if it meets the derecognition criteria. An asset or liability is recognised for
the servicing contract if the servicing fee is more than adequate or is less
than adequate for performing the servicing.
The write-off of a financial asset constitutes a derecognition event. Where
a financial asset is partially written-off, and the portion written-off
comprises specifically identified cash flows, this will constitute a
derecognition event for that part written-off.
Financial liabilities
The Group derecognises a financial liability when its contractual
obligations are discharged, cancelled or expired. Any gain or loss on the
extinguishment or remeasurement of a financial liability is recognised in
profit or loss.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-581": { "value": "
(q) Impairment of financial assets \u2013 Notes 11, 19 and 33
The Group recognises loss allowances for expected credit losses at each
balance sheet date for the following financial instruments that are not
measured at FVTPL:
\u2022 Financial assets at amortised cost;
\u2022 Financial assets at FVOCI (except for equity instruments);
\u2022 Lease receivables;
\u2022 Financial guarantee contracts issued; and
\u2022 Loan commitments issued.
Investments in equity instruments are recognised at fair value and
accordingly, expected credit losses (ECLs) are not recognised separately
for equity instruments.
ECLs are the weighted average of credit losses. When measuring ECLs,
the Group takes into account:
\u2022 Probability weighted outcomes;
\u2022 The time value of money so that ECLs are discounted to the reporting
date; and
\u2022 Reasonable and supportable information that is available without
undue cost or effort at the reporting date about past events, current
conditions and forecasts of future economic conditions.
The amount of ECLs recognised as a loss allowance depends on the
extent of credit deterioration since initial recognition. There are two
measurement bases:
\u2022 12-month ECLs (Stage 1), which applies to all items as long as there is
no significant deterioration in credit quality since initial recognition; and
\u2022 Lifetime ECLs (Stages 2 and 3), which applies when a significant
increase in credit risk has occurred on an individual or collective basis.
The 12-month ECL is the portion of lifetime expected credit losses that
represent the expected credit losses that result from default events on
a\u00a0financial instrument that are possible within the 12 months after the
reporting date. Lifetime ECL is the expected credit losses that result from all
possible default events over the expected life of a financial instrument.
1\u00a0 Accounting policies continued
(q) Impairment of financial assets continued
In the case of Stage 2, credit risk on the financial instrument has increased
significantly since initial recognition but the instrument is not considered
credit impaired. For a financial instrument in Stage 3, credit risk has
increased significantly since initial recognition and the instrument is
considered credit impaired.
Financial assets are allocated to stages dependent on credit quality
relative to when the asset was originated.
A financial asset can only originate in either Stage 1 or as a POCI. The ECL
held against an asset depends on a number of factors, one of which is its
stage allocation. Assets allocated to Stage 2 and Stage 3 have lifetime
ECLs. Collateral and other credit enhancements are not considered as
part of stage allocation. Collateral is reflected in the Group\u2019s loss given
default models (LGD).
Purchased or originated credit impaired
POCI financial assets are those that are credit-impaired on initial
recognition. The Group may originate a credit-impaired financial asset
following a substantial modification of a distressed financial asset that
resulted in derecognition of the original financial asset.
POCIs are financial assets originated credit impaired that have a discount
to the contractual value when measured at fair value. The Group uses an
appropriate discount rate for measuring ECL in the case of POCIs which is
the credit-adjusted EIR. This rate is used to discount the expected cash
flows of such assets to fair value on initial recognition.
POCIs remain outside of the normal stage allocation process for the
lifetime of the obligation. The ECL for POCIs is always measured at
an\u00a0amount equal to lifetime expected credit losses. The amount
recognised as a loss allowance for these assets is the cumulative changes
in lifetime expected credit losses since the initial recognition of\u00a0the assets
rather than the total amount of lifetime expected credit\u00a0losses.
At each reporting date, the Group recognises the amount of the change in
lifetime expected credit losses as a credit impairment gain or loss in the
income statement. Favourable changes in lifetime expected credit losses
are recognised as a credit impairment gain, even if the favourable changes
exceed the amount previously recognised in profit or loss as a credit
impairment loss.
Modification
From time to time, the Group will modify the original terms of a customer\u2019s
loan either as part of the ongoing relationship or arising from changes in
the customer\u2019s circumstances such as when that customer is unable to
make the agreed original contractual repayments. A modification refers to
either:
\u2022 A change to the previous terms and conditions of a debt contract; or
\u2022 A total or partial refinancing of a debt contract.
Modifications may occur for both customers in distress and for those not
in distress. Any financial asset that undergoes a change or renegotiation of
cash flows and is not derecognised is a modified financial asset.
When modification does not result in derecognition, the modified assets
are treated as the same continuous lending agreement and a modification
gain or loss is taken to profit or loss immediately. The gross carrying
amount of the financial asset is recalculated as the present value of the
renegotiated or modified contractual cash flows discounted at the
financial asset\u2019s original effective interest rate. Any costs or fees incurred
adjust the carrying amount of the modified financial asset and are
amortised over the remaining term of the modified financial asset.
The stage allocation for modified assets which are not derecognised is\u00a0by
reference to the credit risk at initial recognition of the original, unmodified
contractual terms, i.e. the date of initial recognition is not\u00a0reset.
Where renegotiation of the terms of a financial asset leads to a\u00a0customer
granting equity to the Group in exchange for any loan balance outstanding,
the new instrument is recognised at fair value with\u00a0any difference to the
loan carrying amount recognised in the income statement.
Derecognition occurs if a modification or restructure is substantial on
a\u00a0qualitative or quantitative basis. Accordingly, certain forborne assets are
derecognised. The modified/restructured asset (derecognised forborne
asset (DFA)) is considered a \u2018new financial instrument\u2019 and\u00a0the date that
the new asset is recognised is the date of initial recognition from this point
forward. DFAs are allocated to Stage 1 on\u00a0origination and follow the
normal staging process thereafter.
If there is evidence of credit impairment at the time of initial recognition
of a DFA, the asset is deemed to be a POCI. POCIs are not allocated to
stages but are assigned a lifetime PD and ECL for the duration of the
obligation\u2019s life. Where the modification/restructure of a non-forborne
credit obligation results in derecognition, the new loan is originated in
Stage 1 and follows the normal staging process thereafter.
Collateralised financial assets \u2013 Repossessions
The ECL calculation for a collateralised financial asset reflects the cash
flows that may result from foreclosure, costs for obtaining and settling the
collateral, and whether or not foreclosure is probable.
For loans that are credit impaired, the Group may repossess collateral
previously pledged as security in order to achieve an orderly realisation of
the loan. The Group will then offer this repossessed collateral for sale.
However, if the Group believes the proceeds of the sale will comprise only
part of the recoverable amount of the loan with the customer remaining
liable for any outstanding balance, the loan continues to be recognised
and\u00a0the repossessed asset is not recognised. However, if the Group
believes that the sale proceeds of the asset will comprise all or
substantially all of the recoverable amount of the loan, the loan is
derecognised and the acquired asset is accounted for in accordance with
the applicable accounting standard. Any further impairment of the
repossessed asset is treated as an impairment of that asset and not as a
credit impairment of\u00a0the original\u00a0loan.
Financial assets at FVOCI
The ECL allowance for financial assets measured at FVOCI does not
reduce the carrying amount in the statement of financial position because
the carrying amount of these assets is fair value. However, an amount
equal to the ECL allowance that would arise if the assets were measured
at amortised cost is recognised in other comprehensive income (OCI) as
an accumulated credit impairment amount, with a corresponding charge
to profit or loss. The accumulated loss recognised in OCI is recycled to the
profit or loss upon derecognition of the assets (together with other
accumulated gains and losses in OCI).
Write-offs and debt forgiveness
The Group reduces the gross carrying amount of a financial asset either
partially or fully when there is no reasonable expectation of\u00a0recovery.
Where there is no formal debt forgiveness agreed with the customer,
the Group may write off a loan either partially or fully when there is no
reasonable expectation of recovery. This is considered a non-contracted
write-off. In this case, the borrower remains fully liable for the credit
obligation and is not advised of the write-off.
Once a financial asset is written-off either partially or fully, the amount
written-off cannot subsequently be recognised on the balance sheet.
It is only when cash is received in relation to the amount written-off that
income is recognised in the income statement as a \u2018recovery of bad debt
previously written-off\u2019.
Debt forgiveness arises where there is a formal contract agreed with the
customer for the write-off of a loan.
Impairment of financial assets
The Group\u2019s accounting policy for impairment of financial assets is set out
in accounting policy (q) in note 1. Details of the Group\u2019s net credit
impairment charge are set out in note 11 and ECL allowance on financial
assets are set out in note 19.
The calculation of the ECL allowance is complex and requires the use of a
number of accounting judgements.
The most significant judgements applied by the Group in determining the
ECL allowance are as follows:
\u2022 Determining the criteria for a significant increase in credit risk and for
being classified as credit impaired; and
\u2022 Determining the need for and an appropriate methodology for
post\u2011model adjustments.
The significant management judgement and the governance process,
relating to ECL, are set out on pages 182 to 189 in the Risk Management
section.
Impairment of financial assets
The Group\u2019s accounting policy for impairment of financial assets is set out
in accounting policy (q) in note 1. Details of the Group\u2019s ECL allowance
are set out in note 19.
The key estimates and assumptions that the Group have used in
determining the ECL allowance are as follows:
\u2022 Establishing the number and relative weightings for forward looking
scenarios;
\u2022 Inputs into discounted cash flows (DCFs) for certain Stage 3 credit
impaired obligors;
\u2022 The assumptions for measuring ECL (e.g. PD, LGD and EAD and the
parameters to be included within the models for modelled ECL); and
\u2022 The estimation of post model adjustments where required.
The calculation of the ECL allowance is complex and therefore the Group
must consider large amounts of information in its determination. This
process requires significant use of estimates and assumptions, some of
which by their nature are highly subjective and very sensitive to risk factors
such as changes to economic conditions. Changes in the ECL allowance
can materially affect net income.
On an ongoing basis, the various estimates and assumptions are reviewed
in light of differences between actual and previously calculated expected
losses. These are then recalibrated and refined to reflect current and
evolving economic conditions. The ECL allowance is, in turn, reviewed and
approved by the Group Credit Committee on a quarterly basis with final
Group levels being approved by the Board Audit Committee. Further detail
on the ECL governance process is set out on page 189.
The macroeconomic variables used in models to calculate ECL allowance
are based on assumptions, forecasts and estimates against\u00a0a backdrop of
an evolving economic landscape. Accordingly, developments in local and
international factors could have a material bearing on the ECL allowance
within the next financial year. The Group\u2019s sensitivity to a range of
macroeconomic factors under the (i) base forecast; (ii) upside; and (iii)
downside scenarios is set out on pages 190 to 194 of the Risk
Management section of this report.
DCFs are used as an input to the ECL calculation for Stage 3
credit\u2011impaired exposures where gross credit exposure is \u2265 \u20ac1 million in
the Republic of Ireland or \u2265 \u00a3500,000 in the UK. For higher\u2011value cases,
multiple DCFs are prepared to ensure that expected losses appropriately
reflect forward looking outcomes. This approach is required where gross
credit exposure is \u2265 \u20ac5 million (Republic of Ireland), \u2265 \u00a35 million (UK), or
where exposures fall within the Group Leveraged Lending Policy. This
approach captures borrower specific impacts under base, downside and
upside conditions, with each scenario probability weighted to derive the
final scenario weighted ECL. Collateral valuation assumptions and the
estimated time to realisation of collateral are key drivers of the DCF
approach. Forward looking information is incorporated through the
Group\u2019s credit assessment process and applied consistently across
scenarios. Where the calculated ECL is very low, a minimum ECL floor is
applied. This is benchmarked against relevant model outputs to ensure
consistency and prudence in ECL recognition.
The Group has developed a standard approach for the measurement of
ECL for the majority of the Group\u2019s exposures where each ECL input
parameter (e.g. PD, LGD and EAD) is developed in line with standard
modelling methodology. These are discussed further on pages 187 to 189
of the Risk Management section. When considering changes in these
assumptions collectively, there is a significant risk of a material
adjustment to the Group\u2019s ECL allowance within the next financial year.
Where the estimate of ECL does not adequately capture all available
forward looking information about the range of possible outcomes, or
where there is a significant degree of uncertainty, management may
consider it appropriate for an adjustment to ECL. These are referred to\u00a0as
post model adjustments and are set out in detail on pages 195 and 196.
The sensitivity of the carrying amounts of the ECL to changes in
assumptions and estimates relating to inputs into DCFs for certain Stage 3
credit impaired obligors, the assumptions for measuring ECL, and the
estimation of post model adjustments where required have not been
provided given their diverse nature, their interrelationship and the number
of estimates and assumptions involved.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-580": { "value": "
(q) Impairment of financial assets \u2013 Notes 11, 19 and 33
The Group recognises loss allowances for expected credit losses at each
balance sheet date for the following financial instruments that are not
measured at FVTPL:
\u2022 Financial assets at amortised cost;
\u2022 Financial assets at FVOCI (except for equity instruments);
\u2022 Lease receivables;
\u2022 Financial guarantee contracts issued; and
\u2022 Loan commitments issued.
Investments in equity instruments are recognised at fair value and
accordingly, expected credit losses (ECLs) are not recognised separately
for equity instruments.
ECLs are the weighted average of credit losses. When measuring ECLs,
the Group takes into account:
\u2022 Probability weighted outcomes;
\u2022 The time value of money so that ECLs are discounted to the reporting
date; and
\u2022 Reasonable and supportable information that is available without
undue cost or effort at the reporting date about past events, current
conditions and forecasts of future economic conditions.
The amount of ECLs recognised as a loss allowance depends on the
extent of credit deterioration since initial recognition. There are two
measurement bases:
\u2022 12-month ECLs (Stage 1), which applies to all items as long as there is
no significant deterioration in credit quality since initial recognition; and
\u2022 Lifetime ECLs (Stages 2 and 3), which applies when a significant
increase in credit risk has occurred on an individual or collective basis.
The 12-month ECL is the portion of lifetime expected credit losses that
represent the expected credit losses that result from default events on
a\u00a0financial instrument that are possible within the 12 months after the
reporting date. Lifetime ECL is the expected credit losses that result from all
possible default events over the expected life of a financial instrument.
1\u00a0 Accounting policies continued
(q) Impairment of financial assets continued
In the case of Stage 2, credit risk on the financial instrument has increased
significantly since initial recognition but the instrument is not considered
credit impaired. For a financial instrument in Stage 3, credit risk has
increased significantly since initial recognition and the instrument is
considered credit impaired.
Financial assets are allocated to stages dependent on credit quality
relative to when the asset was originated.
A financial asset can only originate in either Stage 1 or as a POCI. The ECL
held against an asset depends on a number of factors, one of which is its
stage allocation. Assets allocated to Stage 2 and Stage 3 have lifetime
ECLs. Collateral and other credit enhancements are not considered as
part of stage allocation. Collateral is reflected in the Group\u2019s loss given
default models (LGD).
Purchased or originated credit impaired
POCI financial assets are those that are credit-impaired on initial
recognition. The Group may originate a credit-impaired financial asset
following a substantial modification of a distressed financial asset that
resulted in derecognition of the original financial asset.
POCIs are financial assets originated credit impaired that have a discount
to the contractual value when measured at fair value. The Group uses an
appropriate discount rate for measuring ECL in the case of POCIs which is
the credit-adjusted EIR. This rate is used to discount the expected cash
flows of such assets to fair value on initial recognition.
POCIs remain outside of the normal stage allocation process for the
lifetime of the obligation. The ECL for POCIs is always measured at
an\u00a0amount equal to lifetime expected credit losses. The amount
recognised as a loss allowance for these assets is the cumulative changes
in lifetime expected credit losses since the initial recognition of\u00a0the assets
rather than the total amount of lifetime expected credit\u00a0losses.
At each reporting date, the Group recognises the amount of the change in
lifetime expected credit losses as a credit impairment gain or loss in the
income statement. Favourable changes in lifetime expected credit losses
are recognised as a credit impairment gain, even if the favourable changes
exceed the amount previously recognised in profit or loss as a credit
impairment loss.
Modification
From time to time, the Group will modify the original terms of a customer\u2019s
loan either as part of the ongoing relationship or arising from changes in
the customer\u2019s circumstances such as when that customer is unable to
make the agreed original contractual repayments. A modification refers to
either:
\u2022 A change to the previous terms and conditions of a debt contract; or
\u2022 A total or partial refinancing of a debt contract.
Modifications may occur for both customers in distress and for those not
in distress. Any financial asset that undergoes a change or renegotiation of
cash flows and is not derecognised is a modified financial asset.
When modification does not result in derecognition, the modified assets
are treated as the same continuous lending agreement and a modification
gain or loss is taken to profit or loss immediately. The gross carrying
amount of the financial asset is recalculated as the present value of the
renegotiated or modified contractual cash flows discounted at the
financial asset\u2019s original effective interest rate. Any costs or fees incurred
adjust the carrying amount of the modified financial asset and are
amortised over the remaining term of the modified financial asset.
The stage allocation for modified assets which are not derecognised is\u00a0by
reference to the credit risk at initial recognition of the original, unmodified
contractual terms, i.e. the date of initial recognition is not\u00a0reset.
Where renegotiation of the terms of a financial asset leads to a\u00a0customer
granting equity to the Group in exchange for any loan balance outstanding,
the new instrument is recognised at fair value with\u00a0any difference to the
loan carrying amount recognised in the income statement.
Derecognition occurs if a modification or restructure is substantial on
a\u00a0qualitative or quantitative basis. Accordingly, certain forborne assets are
derecognised. The modified/restructured asset (derecognised forborne
asset (DFA)) is considered a \u2018new financial instrument\u2019 and\u00a0the date that
the new asset is recognised is the date of initial recognition from this point
forward. DFAs are allocated to Stage 1 on\u00a0origination and follow the
normal staging process thereafter.
If there is evidence of credit impairment at the time of initial recognition
of a DFA, the asset is deemed to be a POCI. POCIs are not allocated to
stages but are assigned a lifetime PD and ECL for the duration of the
obligation\u2019s life. Where the modification/restructure of a non-forborne
credit obligation results in derecognition, the new loan is originated in
Stage 1 and follows the normal staging process thereafter.
Collateralised financial assets \u2013 Repossessions
The ECL calculation for a collateralised financial asset reflects the cash
flows that may result from foreclosure, costs for obtaining and settling the
collateral, and whether or not foreclosure is probable.
For loans that are credit impaired, the Group may repossess collateral
previously pledged as security in order to achieve an orderly realisation of
the loan. The Group will then offer this repossessed collateral for sale.
However, if the Group believes the proceeds of the sale will comprise only
part of the recoverable amount of the loan with the customer remaining
liable for any outstanding balance, the loan continues to be recognised
and\u00a0the repossessed asset is not recognised. However, if the Group
believes that the sale proceeds of the asset will comprise all or
substantially all of the recoverable amount of the loan, the loan is
derecognised and the acquired asset is accounted for in accordance with
the applicable accounting standard. Any further impairment of the
repossessed asset is treated as an impairment of that asset and not as a
credit impairment of\u00a0the original\u00a0loan.
Financial assets at FVOCI
The ECL allowance for financial assets measured at FVOCI does not
reduce the carrying amount in the statement of financial position because
the carrying amount of these assets is fair value. However, an amount
equal to the ECL allowance that would arise if the assets were measured
at amortised cost is recognised in other comprehensive income (OCI) as
an accumulated credit impairment amount, with a corresponding charge
to profit or loss. The accumulated loss recognised in OCI is recycled to the
profit or loss upon derecognition of the assets (together with other
accumulated gains and losses in OCI).
Write-offs and debt forgiveness
The Group reduces the gross carrying amount of a financial asset either
partially or fully when there is no reasonable expectation of\u00a0recovery.
Where there is no formal debt forgiveness agreed with the customer,
the Group may write off a loan either partially or fully when there is no
reasonable expectation of recovery. This is considered a non-contracted
write-off. In this case, the borrower remains fully liable for the credit
obligation and is not advised of the write-off.
Once a financial asset is written-off either partially or fully, the amount
written-off cannot subsequently be recognised on the balance sheet.
It is only when cash is received in relation to the amount written-off that
income is recognised in the income statement as a \u2018recovery of bad debt
previously written-off\u2019.
Debt forgiveness arises where there is a formal contract agreed with the
customer for the write-off of a loan.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-582": { "value": "
Netting
Financial assets and financial liabilities are offset and the net amount
reported on the statement of financial position if, and only if, there is a
currently enforceable legal right to set off the recognised amounts and
there is an intention to settle on a net basis, or to realise the asset and
settle the liability simultaneously. This is not generally the case with
master netting agreements, therefore, the related assets and liabilities are
presented gross on the statement of financial position.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-583": { "value": "
(s) Financial guarantees and loan commitment contracts \u2013 Note 38
Financial guarantees provided by the Group
Financial guarantees are given to banks, financial institutions and other
bodies on behalf of customers to secure loans, overdrafts and other
banking facilities (facility guarantees) and to other parties in connection
with the performance of customers under obligations relating to
contracts, advance payments made by other parties, tenders, retentions
and the payment of import duties. In its normal course of business, Allied
Irish Banks, p.l.c. (the principal operating company) may issue financial
guarantees to other Group entities.
A loan commitment is a contract with a borrower to provide a loan or
credit on specified terms at a future date. The contract may or may not be
cancelled unconditionally at any time without notice depending on the
terms of the contract.
The origination date for financial guarantees and loan commitment
contracts is the date when the contracts become irrevocable. The credit
risk at this date is used to determine if a significant increase in credit risk
has subsequently occurred.
Financial guarantees and loan commitments are initially recognised in\u00a0the
financial statements at fair value on the origination date. Subsequent to
initial recognition, the Group applies the impairment provisions of IFRS 9
and calculates an ECL allowance for financial guarantees and loan
commitment contracts (i.e. those that are not measured at FVTPL).\u00a0
The ECL allowance calculated on financial guarantees and loan
commitment contracts is reported within \u2018Provisions for liabilities
and\u00a0commitments\u2019.
Financial guarantees purchased by the Group
The Group enters into financial guarantee contracts which require the
counterparty to the contract to reimburse the Group for a loss when the
credit risk of the borrower significantly deteriorates. Any associated
reimbursement asset is settled periodically by the Guarantor or when the
Group has issued credit linked notes which include the guarantee it is
settled by reducing the liability associated with the credit linked notes.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialGuaranteesExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-585": { "value": "
(t) Property, plant and equipment \u2013 Note 23
Property, plant and equipment are stated at cost, or deemed cost,
less\u00a0accumulated depreciation and provisions for impairment, if any.
Additions and subsequent expenditures are capitalised only to the extent
that they enhance the future economic benefits expected to be derived
from the asset. No depreciation is provided on freehold land. Property,
plant and equipment are depreciated on a straight line basis over their
estimated useful economic lives. Depreciation is calculated based on the
gross carrying amount, less the estimated residual value at the end of the
assets\u2019 economic lives.
The Group uses the following useful lives when calculating depreciation:
Asset type
Useful life
Freehold buildings and long-leasehold
property
50 years
Short leasehold property
life of lease, up to 50 years
Costs of adaptation of freehold and
leasehold property
Branch properties
up to 10 years1
Office properties
up to 15 years1
Computers and similar equipment
3 \u2013 7 years
Fixtures and fittings and other equipment
5 \u2013 10 years
1. Subject to the maximum remaining life of the lease.
The Group depreciates right-of-use assets arising under lease obligations
from the commencement date of a lease to the earlier of the end of the
useful life of the right-of-use asset and the end of the lease term on a
straight-line basis.
The Group reviews its depreciation rates, at least annually, to take
account of any change in circumstances. When deciding on useful lives
and methods, the principal factors that the Group takes into account are
the expected rate of technological developments and expected market
requirements for, and the expected pattern of usage of, the assets. When
reviewing residual values, the Group estimates the amount that it would
currently obtain for the disposal of the asset, after deducting the
estimated cost of disposal if the asset was already of the age and
condition expected at the end of its useful life.
Gains and losses on disposal of property, plant and equipment are
included in the income statement. It is Group policy not to revalue its
property, plant and equipment.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-584": { "value": "
(t) Property, plant and equipment \u2013 Note 23
Property, plant and equipment are stated at cost, or deemed cost,
less\u00a0accumulated depreciation and provisions for impairment, if any.
Additions and subsequent expenditures are capitalised only to the extent
that they enhance the future economic benefits expected to be derived
from the asset. No depreciation is provided on freehold land. Property,
plant and equipment are depreciated on a straight line basis over their
estimated useful economic lives. Depreciation is calculated based on the
gross carrying amount, less the estimated residual value at the end of the
assets\u2019 economic lives.
The Group uses the following useful lives when calculating depreciation:
Asset type
Useful life
Freehold buildings and long-leasehold
property
50 years
Short leasehold property
life of lease, up to 50 years
Costs of adaptation of freehold and
leasehold property
Branch properties
up to 10 years1
Office properties
up to 15 years1
Computers and similar equipment
3 \u2013 7 years
Fixtures and fittings and other equipment
5 \u2013 10 years
1. Subject to the maximum remaining life of the lease.
The Group depreciates right-of-use assets arising under lease obligations
from the commencement date of a lease to the earlier of the end of the
useful life of the right-of-use asset and the end of the lease term on a
straight-line basis.
The Group reviews its depreciation rates, at least annually, to take
account of any change in circumstances. When deciding on useful lives
and methods, the principal factors that the Group takes into account are
the expected rate of technological developments and expected market
requirements for, and the expected pattern of usage of, the assets. When
reviewing residual values, the Group estimates the amount that it would
currently obtain for the disposal of the asset, after deducting the
estimated cost of disposal if the asset was already of the age and
condition expected at the end of its useful life.
Gains and losses on disposal of property, plant and equipment are
included in the income statement. It is Group policy not to revalue its
property, plant and equipment.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-586": { "value": "
(u) Intangible assets \u2013 Note 22
Computer software and other intangible assets
Computer software and other intangible assets are stated at cost,
less\u00a0amortisation on a straight line basis and provisions for impairment, if
any. The identifiable and directly associated external and internal costs of
acquiring and developing software are capitalised where the software is
controlled by the Group, and where it is probable that future economic
benefits that exceed its cost will flow from its use over more than one year.
Costs associated with maintaining software are recognised as an expense
when incurred. Capitalised computer software is amortised over 3 to 9
years. Other intangible assets are amortised over the life of the asset.
Computer software and other intangible assets are reviewed for
impairment when there is an indication that the asset may be impaired.
Intangible assets not yet available for use are reviewed for impairment on
an annual\u00a0basis.
Acquired intangible assets
Customer related intangible assets and brands acquired in a business
combination are recognised at fair value at acquisition date.
Customer related intangible assets and brands have a finite useful life and
are carried at cost less accumulated amortisation and provision for
impairment, if any. Amortisation is calculated using the straight line basis
to allocate the cost over their estimated useful life (6 years).
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-587": { "value": "
(v) Non-credit risk provisions \u2013 Note 33
Provisions are recognised for present legal or constructive obligations
arising as consequences of past events where it is probable that a transfer
of economic benefit will be necessary to settle the obligation, and it can
be reliably estimated.
When the effect is material, provisions are determined by discounting
expected future cash flows at a pre-tax rate that reflects current market
assessments of the time value of money and, where appropriate, the risks
specific to the liability. Payments are deducted from the present value of
the provision, and interest at the relevant discount rate is charged
annually to interest expense using the effective interest rate method.
These are reported within \u2018Provisions for liabilities and commitments\u2019 in
the statement of financial position.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-588": { "value": "
Share capital
Share capital comprises the ordinary shares of the entity. Share capital
represents funds raised by issuing shares in return for cash or other
consideration.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-589": { "value": "
Dividends and distributions
Final dividends on ordinary shares are recognised as a liability in the
Group\u2019s financial statements in the period in which they are approved by
the shareholders of the Company. Proposed dividends that are declared
after the end of the reporting date are not recognised as a liability, they are
disclosed in note 49.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-591": { "value": "
(x) Cash and cash equivalents \u2013 Notes 43 and 44
For the purposes of the cash flow statement, cash comprises cash
on\u00a0hand and demand deposits, and cash equivalents comprise highly
liquid investments that are convertible into cash with an insignificant risk
of changes in value and with a maturity of less than three months from the
date of acquisition.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-590": { "value": "
(x) Cash and cash equivalents \u2013 Notes 43 and 44
For the purposes of the cash flow statement, cash comprises cash
on\u00a0hand and demand deposits, and cash equivalents comprise highly
liquid investments that are convertible into cash with an insignificant risk
of changes in value and with a maturity of less than three months from the
date of acquisition.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-592": { "value": "
1\u00a0 Accounting policies continued
(y) Adoption of new accounting standards and amendments to standards
The table below outlines the new standards and amendments to standards that have been adopted by the Group for the year ended 31\u00a0December\u00a02025.
The Group has not early adopted any standard or amendment that has been issued but is not yet effective.\u00a0
Accounting standard update
Effective date
Amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates: Lack\u00a0of
Exchangeability
Annual reporting periods beginning on or after 1 January 2025.
Nature of change
Impact
Clarifies whether a currency is exchangeable into another currency, and which spot
exchange rate to use when it is not.
The amendments had no material impact on the Group\u2019s financial statements.
(z) Prospective accounting changes
The table below outlines the amendments to existing standards which have been approved by the IASB, but not early adopted by the Group, that\u00a0will
impact the Group\u2019s financial reporting in future periods. The Group will consider the impact of these amendments as the situation requires. The
amendments which are most relevant to the Group are as follows:
Accounting standard update
\u2022 Add new disclosures for certain instruments with contractual terms that can
change cash flows (such as some financial instruments with contingent
features); and
\u2022 Update the disclosures for equity instruments designated at FVOCI.
Amendments to IFRS 9 and IFRS 7 Financial Instruments: Disclosures: Classification
and Measurements of Financial Instruments
Nature of change
The amendments:
\u2022 Clarify the date of recognition and derecognition of some financial assets and
liabilities, with a new exception for some financial liabilities settled through an
electronic cash transfer system;
\u2022 Clarify and add further guidance for assessing whether a financial asset meets the
SPPI criterion;
Effective date
Annual reporting periods beginning on or after 1 January 2026 and will apply
retrospectively.
Impact
The amendments are not expected to have an impact on the Group\u2019s financial
statements because the amendments are in line with the Group\u2019s existing
accounting policies and practices.
Accounting standard update
Effective date
Amendments to IFRS 9 and IFRS 7: Nature-dependent Electricity
Annual reporting periods beginning on or after 1 January 2026.
Nature of change
Impact
The amendments:
\u2022 Clarify the application of the \u2018own-use\u2019 requirements for in-scope contracts;
\u2022 Amend the designation requirements for a hedged item in a cash flow hedging
relationship for in-scope contracts; and
\u2022 Add new disclosure requirements.
The amendments are not expected to have a material impact on the Group\u2019s
financial statements.
Accounting standard update
Effective date
Annual Improvements to IFRS \u2013 Volume 11
Annual reporting periods beginning on or after 1 January 2026.
Nature of change
Impact
Limited amendments to IFRS 1 First-time Adoption of International Financial Reporting
Standards, IFRS 7, IFRS 9, IFRS 10 Consolidated Financial Statements and IAS 7
Statement of Cash Flows that either clarify the wording of an IFRS standard or correct
relatively minor unintended consequences, oversights or conflicts between
requirements in the standards.
The amendments are not expected to have a material impact on the Group\u2019s
financial statements.
Accounting standard update
Effective date
IFRS 18 Presentation and Disclosure in Financial Statements
Annual reporting periods beginning on or after 1 January 2027.
Nature of change
Impact
Introduces new requirements to present specified categories and defined subtotals in
the statement of profit or loss, provide disclosures on management-defined
performance measures (MPMs) in the notes to the financial statements.
The Group is currently evaluating the impact that IFRS 18 will have on its financial
statements.
Accounting standard update
Effective date
IFRS 19 Subsidiaries without Public Accountability: Disclosures
When endorsed by the EU it is expected to be effective for annual reporting periods
beginning on or after 1 January 2027.
Nature of change
Optional for certain eligible subsidiaries of parent entities that report under IFRS
Accounting Standards to apply reduced disclosure requirements.
Impact
The Group is not eligible to apply IFRS 19 in its consolidated or company financial
statements.
", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-593": { "value": "
(y) Adoption of new accounting standards and amendments to standards
The table below outlines the new standards and amendments to standards that have been adopted by the Group for the year ended 31\u00a0December\u00a02025.
The Group has not early adopted any standard or amendment that has been issued but is not yet effective.\u00a0
Accounting standard update
Effective date
Amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates: Lack\u00a0of
Exchangeability
Annual reporting periods beginning on or after 1 January 2025.
Nature of change
Impact
Clarifies whether a currency is exchangeable into another currency, and which spot
exchange rate to use when it is not.
The amendments had no material impact on the Group\u2019s financial statements.
(z) Prospective accounting changes
The table below outlines the amendments to existing standards which have been approved by the IASB, but not early adopted by the Group, that\u00a0will
impact the Group\u2019s financial reporting in future periods. The Group will consider the impact of these amendments as the situation requires. The
amendments which are most relevant to the Group are as follows:
Accounting standard update
\u2022 Add new disclosures for certain instruments with contractual terms that can
change cash flows (such as some financial instruments with contingent
features); and
\u2022 Update the disclosures for equity instruments designated at FVOCI.
Amendments to IFRS 9 and IFRS 7 Financial Instruments: Disclosures: Classification
and Measurements of Financial Instruments
Nature of change
The amendments:
\u2022 Clarify the date of recognition and derecognition of some financial assets and
liabilities, with a new exception for some financial liabilities settled through an
electronic cash transfer system;
\u2022 Clarify and add further guidance for assessing whether a financial asset meets the
SPPI criterion;
Effective date
Annual reporting periods beginning on or after 1 January 2026 and will apply
retrospectively.
Impact
The amendments are not expected to have an impact on the Group\u2019s financial
statements because the amendments are in line with the Group\u2019s existing
accounting policies and practices.
Accounting standard update
Effective date
Amendments to IFRS 9 and IFRS 7: Nature-dependent Electricity
Annual reporting periods beginning on or after 1 January 2026.
Nature of change
Impact
The amendments:
\u2022 Clarify the application of the \u2018own-use\u2019 requirements for in-scope contracts;
\u2022 Amend the designation requirements for a hedged item in a cash flow hedging
relationship for in-scope contracts; and
\u2022 Add new disclosure requirements.
The amendments are not expected to have a material impact on the Group\u2019s
financial statements.
Accounting standard update
Effective date
Annual Improvements to IFRS \u2013 Volume 11
Annual reporting periods beginning on or after 1 January 2026.
Nature of change
Impact
Limited amendments to IFRS 1 First-time Adoption of International Financial Reporting
Standards, IFRS 7, IFRS 9, IFRS 10 Consolidated Financial Statements and IAS 7
Statement of Cash Flows that either clarify the wording of an IFRS standard or correct
relatively minor unintended consequences, oversights or conflicts between
requirements in the standards.
The amendments are not expected to have a material impact on the Group\u2019s
financial statements.
Accounting standard update
Effective date
IFRS 18 Presentation and Disclosure in Financial Statements
Annual reporting periods beginning on or after 1 January 2027.
Nature of change
Impact
Introduces new requirements to present specified categories and defined subtotals in
the statement of profit or loss, provide disclosures on management-defined
performance measures (MPMs) in the notes to the financial statements.
The Group is currently evaluating the impact that IFRS 18 will have on its financial
statements.
Accounting standard update
Effective date
IFRS 19 Subsidiaries without Public Accountability: Disclosures
When endorsed by the EU it is expected to be effective for annual reporting periods
beginning on or after 1 January 2027.
Nature of change
Optional for certain eligible subsidiaries of parent entities that report under IFRS
Accounting Standards to apply reduced disclosure requirements.
Impact
The Group is not eligible to apply IFRS 19 in its consolidated or company financial
statements.
", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-594": { "value": "Critical accounting estimates The accounting estimates with a significant risk of material adjustment to the carrying amounts of assets and liabilities within the next financial year were in relation to:\u2022 Impairment of financial assets; and\u2022 Retirement benefit obligations.Impairment of financial assetsThe Group\u2019s accounting policy for impairment of financial assets is set out in accounting policy (q) in note 1. Details of the Group\u2019s ECL allowance are set out in note 19.The key estimates and assumptions that the Group have used in determining the ECL allowance are as follows:\u2022 Establishing the number and relative weightings for forward looking scenarios; \u2022 Inputs into discounted cash flows (DCFs) for certain Stage 3 credit impaired obligors; \u2022 The assumptions for measuring ECL (e.g. PD, LGD and EAD and the parameters to be included within the models for modelled ECL); and\u2022 The estimation of post model adjustments where required.The calculation of the ECL allowance is complex and therefore the Group must consider large amounts of information in its determination. This process requires significant use of estimates and assumptions, some of which by their nature are highly subjective and very sensitive to risk factors such as changes to economic conditions. Changes in the ECL allowance can materially affect net income.On an ongoing basis, the various estimates and assumptions are reviewed in light of differences between actual and previously calculated expected losses. These are then recalibrated and refined to reflect current and evolving economic conditions. The ECL allowance is, in turn, reviewed and approved by the Group Credit Committee on a quarterly basis with final Group levels being approved by the Board Audit Committee. Further detail on the ECL governance process is set out on page 189.The macroeconomic variables used in models to calculate ECL allowance are based on assumptions, forecasts and estimates against\u00a0a backdrop of an evolving economic landscape. Accordingly, developments in local and international factors could have a material bearing on the ECL allowance within the next financial year. The Group\u2019s sensitivity to a range of macroeconomic factors under the (i) base forecast; (ii) upside; and (iii) downside scenarios is set out on pages 190 to 194 of the Risk Management section of this report.DCFs are used as an input to the ECL calculation for Stage 3 credit\u2011impaired exposures where gross credit exposure is \u2265 \u20ac1 million in the Republic of Ireland or \u2265 \u00a3500,000 in the UK. For higher\u2011value cases, multiple DCFs are prepared to ensure that expected losses appropriately reflect forward looking outcomes. This approach is required where gross credit exposure is \u2265 \u20ac5 million (Republic of Ireland), \u2265 \u00a35 million (UK), or where exposures fall within the Group Leveraged Lending Policy. This approach captures borrower specific impacts under base, downside and upside conditions, with each scenario probability weighted to derive the final scenario weighted ECL. Collateral valuation assumptions and the estimated time to realisation of collateral are key drivers of the DCF approach. Forward looking information is incorporated through the Group\u2019s credit assessment process and applied consistently across scenarios. Where the calculated ECL is very low, a minimum ECL floor is applied. This is benchmarked against relevant model outputs to ensure consistency and prudence in ECL recognition.The Group has developed a standard approach for the measurement of ECL for the majority of the Group\u2019s exposures where each ECL input parameter (e.g. PD, LGD and EAD) is developed in line with standard modelling methodology. These are discussed further on pages 187 to 189 of the Risk Management section. When considering changes in these assumptions collectively, there is a significant risk of a material adjustment to the Group\u2019s ECL allowance within the next financial year. Where the estimate of ECL does not adequately capture all available forward looking information about the range of possible outcomes, or where there is a significant degree of uncertainty, management may consider it appropriate for an adjustment to ECL. These are referred to\u00a0as post model adjustments and are set out in detail on pages 195 and 196.The sensitivity of the carrying amounts of the ECL to changes in assumptions and estimates relating to inputs into DCFs for certain Stage 3 credit impaired obligors, the assumptions for measuring ECL, and the estimation of post model adjustments where required have not been provided given their diverse nature, their interrelationship and the number of estimates and assumptions involved. Retirement benefit obligations The Group\u2019s accounting policy for retirement benefit obligations is set out in accounting policy (h) in note 1. Details of the Group\u2019s retirement benefit obligations are set out in note 26.The key estimates and assumptions that the Group have used in determining the retirement benefit obligation are as follows:\u2022 In a situation where the Group believes the Trustee can grant discretionary increases without any funding being provided by the Group, the Group has assumed that the Trustee will grant increases and as a result the scheme\u2019s liabilities include an estimate for this matter; and\u2022 The significant demographic and financial actuarial assumptions used to determine the present value of the retirement benefit obligation. The Trustee of the Irish Scheme has awarded an increase, in certain years, in respect of pensions eligible for discretionary pension in payment increases notwithstanding a decision by the Group not to fund such increases. This reflected the ability of the Trustee to grant an increase when the financial position of the scheme would enable such an increase at that point in time. Taking these decisions by the Trustee into consideration, the long-term assumption for future increases in pension in payment reflects an assessment of the Trustee\u2019s ability to grant further increases without any funding from the Group, capped at the lower of our long-term inflation assumption or the surplus available to the Trustee.Having taken actuarial advice, the Group has adopted a rate of 2.10% (31\u00a0December 2024: 1.90%) for the long-term assumption for future discretionary increases in pensions in payment. This increased the scheme liabilities by \u20ac748\u00a0million at 31 December 2025 (31 December 2024: \u20ac808 million). A sensitivity analysis for the rate of increase in pensions in payment is not provided, as this rate is dependent on the surplus available to the Trustee to distribute and the advice of the actuary.The actuarial valuation of the schemes\u2019 liabilities is dependent upon a number of financial and demographic assumptions which are inherently uncertain. Changes to those assumptions could materially impact the reported amount for schemes\u2019 liabilities and the actuarial gains/losses reported in equity. Details of the assumptions adopted by the Group in\u00a0calculating the schemes\u2019 liabilities and a sensitivity analysis for the principal assumptions used to measure the schemes\u2019 liabilities are set\u00a0out in note 26 to the financial statements.", "dimensions": { "concept": "ifrs-full:ExplanationOfAssumptionAboutFutureWithSignificantRiskOfResultingInMaterialAdjustments", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-597": { "value": "
3\u00a0 Segmental information
Segment overview
The Group has identified reportable segments on the basis of internal
reports about components of the Group that are regularly reviewed by the
Chief Operating Decision Maker (CODM) in order to allocate resources to
the segment and assess its performance. Based on this identification, the
reportable segments are the operating segments within the Group. The
Executive Leadership Team is the CODM and it relies primarily on the
management accounts to assess performance of the reportable
segments and when making resource allocation decisions.
During 2025, the Group announced a change in its management structure
and the integration of AIB UK into the Retail Banking business line. The
Group\u2019s performance for the 12 months to 31 December 2025 was
managed and reported, in the management accounts, across Retail
Banking, AIB Capital Markets (Capital Markets), Climate & Infrastructure
Capital, AIB UK and Group segments and therefore the announcement did
not impact the Group\u2019s disclosure of its reportable segments.
Transactions between operating segments are on normal commercial
terms and conditions, with internal charges and transfer pricing
adjustments reflected in the performance of each operating segment.
Revenue sharing agreements are used to allocate external
customer\u00a0revenues to an operating segment on a reasonable basis.
The geographical distribution of total revenue is based primarily on
the\u00a0location of the office recording the transaction.
Retail Banking
Retail Banking is the Group\u2019s leading Irish retail franchise which provides a
comprehensive range of products and services through branch, digital and
phone banking channels. The aim is to provide our customers with a
seamless and transparent experience across all channels, while
supporting the development of sustainable businesses within their local
communities.
Capital Markets
Capital Markets provides institutional, corporate, business banking
services and specialised products to the Group\u2019s larger customers and
customers requiring specific sector or product expertise. Goodbody offers
further capabilities in wealth management, asset management and
investment banking.
Climate & Infrastructure Capital
In 2025, the Group\u2019s Climate Capital segment was renamed as Climate &
Infrastructure Capital (C&IC) as the name better reflects the nature of its
lending activity. C&IC which serves the Irish, UK, European and North
American markets, specialises in lending to large scale renewable energy
and infrastructure projects, which are key drivers for sustainable
economic growth.
AIB UK
AIB UK provides lending, treasury, trade facilities, asset finance and
invoice discounting services to large corporates in Great Britain and
Northern Ireland and operates a full-service retail franchise in Northern
Ireland with a focus on everyday banking, mortgage and business banking.
Group
Group comprises wholesale treasury activities as well as Group control
and support functions. Treasury manages the Group\u2019s liquidity and
funding positions and provides customer treasury services and economic
research while the control and support functions oversee the Group\u2019s
strategy, establish clear governance and control frameworks and provide
management services to the Group.
Segment allocations
Under the Group's cost allocation methodology, substantially all of the
costs of the Group's control, support and Treasury functions are allocated
to Retail Banking, Capital Markets, C&IC and AIB UK. In addition, certain
Bank levies and regulatory fees, such as the Irish bank levy, are allocated
to the Retail Banking, Capital Markets and C&IC segments.
Funding and liquidity income/charges are based on each segment\u2019s
funding requirements and the Group\u2019s funding cost profile, which
is\u00a0informed by wholesale and retail funding costs. Income attributable
to\u00a0capital is allocated to segments based on each segment\u2019s
capital\u00a0requirement.
Change in presentation of net fee and commission income
The Group has introduced new categories of fee income and expense for
2025 to separately identify the nature of those items in the Group's
disclosures. The Group now discloses Customer accounts and payment
services; Wealth and insurance and Investment banking\u00a0 as separate
categories of fee income and fee expense and has re-presented the
comparatives on this basis. For the 2024 comparatives:
\u2022 \u20ac128 million of Specialised payments services (Payzone) income and
\u20ac108 million of Specialised payments services (Payzone) expense were
re-presented as Customer accounts and payment services;
\u2022 \u20ac43 million of Stockbroking client fees and commissions income,
\u20ac39\u00a0million of Other fees and commissions income and \u20ac3 million
of\u00a0Other fees and commissions expense were re-presented as
Wealth\u00a0and insurance; and
\u2022 \u20ac14 million of Stockbroking client fees and commissions income,
\u20ac6\u00a0million of Other fees and commissions income, and \u20ac2 million
of\u00a0Other fees and commissions expense were re-presented as
Investment banking.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-596": { "value": "
3\u00a0 Segmental information
Segment overview
The Group has identified reportable segments on the basis of internal
reports about components of the Group that are regularly reviewed by the
Chief Operating Decision Maker (CODM) in order to allocate resources to
the segment and assess its performance. Based on this identification, the
reportable segments are the operating segments within the Group. The
Executive Leadership Team is the CODM and it relies primarily on the
management accounts to assess performance of the reportable
segments and when making resource allocation decisions.
During 2025, the Group announced a change in its management structure
and the integration of AIB UK into the Retail Banking business line. The
Group\u2019s performance for the 12 months to 31 December 2025 was
managed and reported, in the management accounts, across Retail
Banking, AIB Capital Markets (Capital Markets), Climate & Infrastructure
Capital, AIB UK and Group segments and therefore the announcement did
not impact the Group\u2019s disclosure of its reportable segments.
Transactions between operating segments are on normal commercial
terms and conditions, with internal charges and transfer pricing
adjustments reflected in the performance of each operating segment.
Revenue sharing agreements are used to allocate external
customer\u00a0revenues to an operating segment on a reasonable basis.
The geographical distribution of total revenue is based primarily on
the\u00a0location of the office recording the transaction.
Retail Banking
Retail Banking is the Group\u2019s leading Irish retail franchise which provides a
comprehensive range of products and services through branch, digital and
phone banking channels. The aim is to provide our customers with a
seamless and transparent experience across all channels, while
supporting the development of sustainable businesses within their local
communities.
Capital Markets
Capital Markets provides institutional, corporate, business banking
services and specialised products to the Group\u2019s larger customers and
customers requiring specific sector or product expertise. Goodbody offers
further capabilities in wealth management, asset management and
investment banking.
Climate & Infrastructure Capital
In 2025, the Group\u2019s Climate Capital segment was renamed as Climate &
Infrastructure Capital (C&IC) as the name better reflects the nature of its
lending activity. C&IC which serves the Irish, UK, European and North
American markets, specialises in lending to large scale renewable energy
and infrastructure projects, which are key drivers for sustainable
economic growth.
AIB UK
AIB UK provides lending, treasury, trade facilities, asset finance and
invoice discounting services to large corporates in Great Britain and
Northern Ireland and operates a full-service retail franchise in Northern
Ireland with a focus on everyday banking, mortgage and business banking.
Group
Group comprises wholesale treasury activities as well as Group control
and support functions. Treasury manages the Group\u2019s liquidity and
funding positions and provides customer treasury services and economic
research while the control and support functions oversee the Group\u2019s
strategy, establish clear governance and control frameworks and provide
management services to the Group.
Segment allocations
Under the Group's cost allocation methodology, substantially all of the
costs of the Group's control, support and Treasury functions are allocated
to Retail Banking, Capital Markets, C&IC and AIB UK. In addition, certain
Bank levies and regulatory fees, such as the Irish bank levy, are allocated
to the Retail Banking, Capital Markets and C&IC segments.
Funding and liquidity income/charges are based on each segment\u2019s
funding requirements and the Group\u2019s funding cost profile, which
is\u00a0informed by wholesale and retail funding costs. Income attributable
to\u00a0capital is allocated to segments based on each segment\u2019s
capital\u00a0requirement.
Change in presentation of net fee and commission income
The Group has introduced new categories of fee income and expense for
2025 to separately identify the nature of those items in the Group's
disclosures. The Group now discloses Customer accounts and payment
services; Wealth and insurance and Investment banking\u00a0 as separate
categories of fee income and fee expense and has re-presented the
comparatives on this basis. For the 2024 comparatives:
\u2022 \u20ac128 million of Specialised payments services (Payzone) income and
\u20ac108 million of Specialised payments services (Payzone) expense were
re-presented as Customer accounts and payment services;
\u2022 \u20ac43 million of Stockbroking client fees and commissions income,
\u20ac39\u00a0million of Other fees and commissions income and \u20ac3 million
of\u00a0Other fees and commissions expense were re-presented as
Wealth\u00a0and insurance; and
\u2022 \u20ac14 million of Stockbroking client fees and commissions income,
\u20ac6\u00a0million of Other fees and commissions income, and \u20ac2 million
of\u00a0Other fees and commissions expense were re-presented as
Investment banking.
3\u00a0 Segmental information continued
2025
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Exceptional
items
1
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Operations by business segment
Net interest income
2,380
787
140
340
101
3,748
\u2014
3,748
Net fee and commission income*
465
171
16
41
(1)
692
\u2014
692
Other
28
38
1
(8)
5
64
7
2
71
Total other income
493
209
17
33
4
756
7
763
Total operating income
2,873
996
157
373
105
4,504
7
4,511
Personnel expenses
(589)
(237)
(31)
(102)
(7)
(966)
(16)
3
(982)
General and administrative expenses
(543)
(106)
(11)
(69)
(6)
(735)
8
4
(727)
Depreciation, impairment and amortisation
(224)
(37)
(4)
(22)
(4)
(291)
\u2014
(291)
Other operating expenses
(1,356)
(380)
(46)
(193)
(17)
(1,992)
(8)
(2,000)
Bank levies and regulatory fees
(104)
(16)
(1)
(1)
8
(114)
\u2014
(114)
Total operating expenses
(1,460)
(396)
(47)
(194)
(9)
(2,106)
(8)
(2,114)
Operating profit/(loss) before impairment losses
1,413
600
110
179
96
2,398
(1)
2,397
Net credit impairment charge
(47)
(12)
(71)
(42)
\u2014
(172)
\u2014
(172)
Operating profit/(loss)
1,366
588
39
137
96
2,226
(1)
2,225
Income from equity accounted investments
14
\u2014
\u2014
3
\u2014
17
157
5
174
Loss on disposal of business
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Profit before taxation
1,380
588
39
140
96
2,243
156
2,399
1. Exceptional items are shown separately above. These are items that Management view as distorting comparability of performance year-on-year. Exceptional items are set out in footnotes 2 to 5 below.
2. Gain on disposal of loan portfolios.
3. Restructuring costs.
4. Legal claims and customer redress writeback.
5. Sale of AIB Merchant Services.
2025
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Exceptional
items
Total
*Net fee and commission income
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Customer accounts and payment services
325
26
1
11
1
364
\u2014
364
Card income
169
9
\u2014
12
\u2014
190
\u2014
190
Customer related foreign exchange
45
33
\u2014
8
1
87
\u2014
87
Wealth and insurance1
39
51
\u2014
\u2014
\u2014
90
\u2014
90
Lending related fees
8
26
11
13
\u2014
58
\u2014
58
Investment banking2
\u2014
32
\u2014
\u2014
\u2014
32
\u2014
32
Other fees and commissions
3
1
4
\u2014
2
10
\u2014
10
Fee and commission income
589
178
16
44
4
831
\u2014
831
Customer accounts and payment services
(99)
(1)
\u2014
\u2014
\u2014
(100)
\u2014
(100)
Card expenses
(21)
(1)
\u2014
(3)
\u2014
(25)
\u2014
(25)
Wealth and insurance1
(3)
(3)
\u2014
\u2014
\u2014
(6)
\u2014
(6)
Investment banking2
\u2014
(1)
\u2014
\u2014
\u2014
(1)
\u2014
(1)
Other fees and commissions
(1)
(1)
\u2014
\u2014
(5)
(7)
\u2014
(7)
Fee and commission expense
(124)
(7)
\u2014
(3)
(5)
(139)
\u2014
(139)
Total net fee and commission income
465
171
16
41
(1)
692
\u2014
692
1. Wealth refers to fees and commissions from financial planning and investment management services. Insurance refers to fees and commissions from selling insurance products, such as home,
car\u00a0and travel insurance on behalf of the Group's insurance partners.
2. Investment banking relates to fees and commissions earned from advisory, corporate research and transactional services for debt or equity raising.
Fees and commissions which are an integral part of the effective interest rate are recognised as part of interest and similar income (note 4) or interest
and similar expense (note 5).
3\u00a0 Segmental information continued
2024
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Exceptional
items
1
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Operations by business segment
Net interest income
2,633
906
110
379
101
4,129
\u2014
4,129
Net fee and commission income*
455
158
13
37
3
666
15
2
681
Other
54
65
8
(11)
(3)
113
5
3
118
Other income
509
223
21
26
\u2014
779
20
799
Total operating income
3,142
1,129
131
405
101
4,908
20
4,928
Personnel expenses
(611)
(239)
(29)
(95)
(6)
(980)
(4)
4
(984)
General and administrative expenses
(510)
(97)
(12)
(66)
(5)
(690)
(82)
5-7
(772)
Depreciation, impairment and amortisation
(232)
(39)
(6)
(21)
(3)
(301)
\u2014
(301)
Other operating expenses
(1,353)
(375)
(47)
(182)
(14)
(1,971)
(86)
(2,057)
Bank levies and regulatory fees
(104)
(19)
(2)
(2)
(11)
(138)
\u2014
(138)
Total operating expenses
(1,457)
(394)
(49)
(184)
(25)
(2,109)
(86)
(2,195)
Operating profit/(loss) before impairment losses
1,685
735
82
221
76
2,799
(66)
2,733
Net credit impairment (charge)/writeback
(28)
83
(22)
(90)
2
(55)
\u2014
(55)
Operating profit/(loss)
1,657
818
60
131
78
2,744
(66)
2,678
Income/(loss) from equity accounted investments
21
\u2014
\u2014
6
(1)
26
\u2014
26
Loss on disposal of business
\u2014
\u2014
\u2014
\u2014
(2)
(2)
\u2014
(2)
Profit/(loss) before taxation
1,678
818
60
137
75
2,768
(66)
2,702
1. Exceptional items are shown separately above. These are items that Management view as distorting comparability of performance year-on-year. Exceptional items are set out in footnotes 2 to 7 below.
2. Run-off fee receivable on exit of a servicing arrangement.
3. Gain on disposal of loan portfolios and other operating income.
4. Restructuring costs.
5. Customer redress costs.
6. Inorganic transaction costs.
7. Other costs.
2024
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Exceptional
items
1
Total
*Net fee and commission income
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Customer accounts and payment services
338
26
1
12
1
378
\u2014
378
Card income
169
8
\u2014
12
\u2014
189
\u2014
189
Customer related foreign exchange
47
36
1
6
1
91
\u2014
91
Wealth and insurance2
37
45
\u2014
\u2014
\u2014
82
\u2014
82
Lending related fees
8
28
9
11
\u2014
56
\u2014
56
Investment banking3
\u2014
20
\u2014
\u2014
\u2014
20
\u2014
20
Other fees and commissions
6
1
2
\u2014
5
14
15
4
29
Fee and commission income
605
164
13
41
7
830
15
845
Customer accounts and payment services
(109)
(1)
\u2014
\u2014
\u2014
(110)
\u2014
(110)
Card expenses
(36)
(1)
\u2014
(4)
\u2014
(41)
\u2014
(41)
Wealth and insurance2
(3)
\u2014
\u2014
\u2014
\u2014
(3)
\u2014
(3)
Investment banking3
\u2014
(2)
\u2014
\u2014
\u2014
(2)
\u2014
(2)
Other fees and commissions
(2)
(2)
\u2014
\u2014
(4)
(8)
\u2014
(8)
Fee and commission expense
(150)
(6)
\u2014
(4)
(4)
(164)
\u2014
(164)
Total net fee and commission income
455
158
13
37
1
3
666
15
681
1. Exceptional items are shown separately above. These are items that Management view as distorting comparability of performance year-on-year.
2. Wealth refers to fees and commissions from financial planning and investment management services. Insurance refers to fees and commissions from selling insurance products, such as home,
car\u00a0and travel insurance on behalf of the Group's insurance partners.
3. Investment banking relates to fees and commissions earned from advisory, corporate research and transactional services for debt or equity raising.
4. Run-off fee receivable on exit of a servicing arrangement.
5. Wealth refers to fees and commissions from financial planning and investment management services. Insurance refers to fees and commissions from selling insurance
products, such as home, car and travel insurance on behalf of the Group's insurance partners.
3\u00a0 Segmental information continued
31 December 2025
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Other amounts \u2013 statement of financial position
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Loans and advances to customers:
\u2013 measured at amortised cost
42,231
16,518
6,248
6,028
91
71,116
\u2013 measured at FVTPL
\u2014
84
\u2014
\u2014
\u2014
84
Total loans and advances to customers
42,231
16,602
6,248
6,028
91
71,200
Deposits and advances from customers
89,893
17,561
305
8,440
1,472
117,671
31 December 2024
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Other amounts \u2013 statement of financial position
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Loans and advances to customers:
\u2013 measured at amortised cost
41,570
16,885
5,483
5,837
50
69,825
\u2013 measured at FVTPL
\u2014
64
\u2014
\u2014
\u2014
64
Total loans and advances to customers
41,570
16,949
5,483
5,837
50
69,889
Deposits and advances from customers
84,206
15,555
365
8,575
1,182
109,883
Year to 31 December 2025
Ireland
United
Kingdom
Rest of the
World
Total
Geographic information1
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Gross external revenue
3,868
557
86
4,511
Inter-geographical segment revenue
171
(111)
(60)
\u2014
Total revenue
4,039
446
26
4,511
Year to 31 December 2024
Ireland
United
Kingdom
Rest of the
World
Total
Geographic information1
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Gross external revenue
4,410
483
35
4,928
Inter-geographical segment revenue
21
31
(52)
\u2014
Total revenue
4,431
514
(17)
4,928
Revenue comprises all items included within total operating income as disclosed in the consolidated income statement.
31 December 2025
Ireland
United
Kingdom
Rest of the
World
Total
Geographic Information
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Non-current assets2
1,447
51
6
1,504
31 December 2024
Ireland
United
Kingdom
Rest of the
World
Total
Geographic Information
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Non-current assets2
1,387
55
8
1,450
1. For details of significant geographic concentrations, see the Risk Management section.
2. Non-current assets comprise intangible assets, goodwill and property, plant and equipment.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOperatingSegmentsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-595": { "value": "
3\u00a0 Segmental information
Segment overview
The Group has identified reportable segments on the basis of internal
reports about components of the Group that are regularly reviewed by the
Chief Operating Decision Maker (CODM) in order to allocate resources to
the segment and assess its performance. Based on this identification, the
reportable segments are the operating segments within the Group. The
Executive Leadership Team is the CODM and it relies primarily on the
management accounts to assess performance of the reportable
segments and when making resource allocation decisions.
During 2025, the Group announced a change in its management structure
and the integration of AIB UK into the Retail Banking business line. The
Group\u2019s performance for the 12 months to 31 December 2025 was
managed and reported, in the management accounts, across Retail
Banking, AIB Capital Markets (Capital Markets), Climate & Infrastructure
Capital, AIB UK and Group segments and therefore the announcement did
not impact the Group\u2019s disclosure of its reportable segments.
Transactions between operating segments are on normal commercial
terms and conditions, with internal charges and transfer pricing
adjustments reflected in the performance of each operating segment.
Revenue sharing agreements are used to allocate external
customer\u00a0revenues to an operating segment on a reasonable basis.
The geographical distribution of total revenue is based primarily on
the\u00a0location of the office recording the transaction.
Retail Banking
Retail Banking is the Group\u2019s leading Irish retail franchise which provides a
comprehensive range of products and services through branch, digital and
phone banking channels. The aim is to provide our customers with a
seamless and transparent experience across all channels, while
supporting the development of sustainable businesses within their local
communities.
Capital Markets
Capital Markets provides institutional, corporate, business banking
services and specialised products to the Group\u2019s larger customers and
customers requiring specific sector or product expertise. Goodbody offers
further capabilities in wealth management, asset management and
investment banking.
Climate & Infrastructure Capital
In 2025, the Group\u2019s Climate Capital segment was renamed as Climate &
Infrastructure Capital (C&IC) as the name better reflects the nature of its
lending activity. C&IC which serves the Irish, UK, European and North
American markets, specialises in lending to large scale renewable energy
and infrastructure projects, which are key drivers for sustainable
economic growth.
AIB UK
AIB UK provides lending, treasury, trade facilities, asset finance and
invoice discounting services to large corporates in Great Britain and
Northern Ireland and operates a full-service retail franchise in Northern
Ireland with a focus on everyday banking, mortgage and business banking.
Group
Group comprises wholesale treasury activities as well as Group control
and support functions. Treasury manages the Group\u2019s liquidity and
funding positions and provides customer treasury services and economic
research while the control and support functions oversee the Group\u2019s
strategy, establish clear governance and control frameworks and provide
management services to the Group.
Segment allocations
Under the Group's cost allocation methodology, substantially all of the
costs of the Group's control, support and Treasury functions are allocated
to Retail Banking, Capital Markets, C&IC and AIB UK. In addition, certain
Bank levies and regulatory fees, such as the Irish bank levy, are allocated
to the Retail Banking, Capital Markets and C&IC segments.
Funding and liquidity income/charges are based on each segment\u2019s
funding requirements and the Group\u2019s funding cost profile, which
is\u00a0informed by wholesale and retail funding costs. Income attributable
to\u00a0capital is allocated to segments based on each segment\u2019s
capital\u00a0requirement.
Change in presentation of net fee and commission income
The Group has introduced new categories of fee income and expense for
2025 to separately identify the nature of those items in the Group's
disclosures. The Group now discloses Customer accounts and payment
services; Wealth and insurance and Investment banking\u00a0 as separate
categories of fee income and fee expense and has re-presented the
comparatives on this basis. For the 2024 comparatives:
\u2022 \u20ac128 million of Specialised payments services (Payzone) income and
\u20ac108 million of Specialised payments services (Payzone) expense were
re-presented as Customer accounts and payment services;
\u2022 \u20ac43 million of Stockbroking client fees and commissions income,
\u20ac39\u00a0million of Other fees and commissions income and \u20ac3 million
of\u00a0Other fees and commissions expense were re-presented as
Wealth\u00a0and insurance; and
\u2022 \u20ac14 million of Stockbroking client fees and commissions income,
\u20ac6\u00a0million of Other fees and commissions income, and \u20ac2 million
of\u00a0Other fees and commissions expense were re-presented as
Investment banking.
3\u00a0 Segmental information continued
2025
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Exceptional
items
1
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Operations by business segment
Net interest income
2,380
787
140
340
101
3,748
\u2014
3,748
Net fee and commission income*
465
171
16
41
(1)
692
\u2014
692
Other
28
38
1
(8)
5
64
7
2
71
Total other income
493
209
17
33
4
756
7
763
Total operating income
2,873
996
157
373
105
4,504
7
4,511
Personnel expenses
(589)
(237)
(31)
(102)
(7)
(966)
(16)
3
(982)
General and administrative expenses
(543)
(106)
(11)
(69)
(6)
(735)
8
4
(727)
Depreciation, impairment and amortisation
(224)
(37)
(4)
(22)
(4)
(291)
\u2014
(291)
Other operating expenses
(1,356)
(380)
(46)
(193)
(17)
(1,992)
(8)
(2,000)
Bank levies and regulatory fees
(104)
(16)
(1)
(1)
8
(114)
\u2014
(114)
Total operating expenses
(1,460)
(396)
(47)
(194)
(9)
(2,106)
(8)
(2,114)
Operating profit/(loss) before impairment losses
1,413
600
110
179
96
2,398
(1)
2,397
Net credit impairment charge
(47)
(12)
(71)
(42)
\u2014
(172)
\u2014
(172)
Operating profit/(loss)
1,366
588
39
137
96
2,226
(1)
2,225
Income from equity accounted investments
14
\u2014
\u2014
3
\u2014
17
157
5
174
Loss on disposal of business
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Profit before taxation
1,380
588
39
140
96
2,243
156
2,399
1. Exceptional items are shown separately above. These are items that Management view as distorting comparability of performance year-on-year. Exceptional items are set out in footnotes 2 to 5 below.
2. Gain on disposal of loan portfolios.
3. Restructuring costs.
4. Legal claims and customer redress writeback.
5. Sale of AIB Merchant Services.
2025
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Exceptional
items
Total
*Net fee and commission income
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Customer accounts and payment services
325
26
1
11
1
364
\u2014
364
Card income
169
9
\u2014
12
\u2014
190
\u2014
190
Customer related foreign exchange
45
33
\u2014
8
1
87
\u2014
87
Wealth and insurance1
39
51
\u2014
\u2014
\u2014
90
\u2014
90
Lending related fees
8
26
11
13
\u2014
58
\u2014
58
Investment banking2
\u2014
32
\u2014
\u2014
\u2014
32
\u2014
32
Other fees and commissions
3
1
4
\u2014
2
10
\u2014
10
Fee and commission income
589
178
16
44
4
831
\u2014
831
Customer accounts and payment services
(99)
(1)
\u2014
\u2014
\u2014
(100)
\u2014
(100)
Card expenses
(21)
(1)
\u2014
(3)
\u2014
(25)
\u2014
(25)
Wealth and insurance1
(3)
(3)
\u2014
\u2014
\u2014
(6)
\u2014
(6)
Investment banking2
\u2014
(1)
\u2014
\u2014
\u2014
(1)
\u2014
(1)
Other fees and commissions
(1)
(1)
\u2014
\u2014
(5)
(7)
\u2014
(7)
Fee and commission expense
(124)
(7)
\u2014
(3)
(5)
(139)
\u2014
(139)
Total net fee and commission income
465
171
16
41
(1)
692
\u2014
692
1. Wealth refers to fees and commissions from financial planning and investment management services. Insurance refers to fees and commissions from selling insurance products, such as home,
car\u00a0and travel insurance on behalf of the Group's insurance partners.
2. Investment banking relates to fees and commissions earned from advisory, corporate research and transactional services for debt or equity raising.
Fees and commissions which are an integral part of the effective interest rate are recognised as part of interest and similar income (note 4) or interest
and similar expense (note 5).
3\u00a0 Segmental information continued
2024
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Exceptional
items
1
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Operations by business segment
Net interest income
2,633
906
110
379
101
4,129
\u2014
4,129
Net fee and commission income*
455
158
13
37
3
666
15
2
681
Other
54
65
8
(11)
(3)
113
5
3
118
Other income
509
223
21
26
\u2014
779
20
799
Total operating income
3,142
1,129
131
405
101
4,908
20
4,928
Personnel expenses
(611)
(239)
(29)
(95)
(6)
(980)
(4)
4
(984)
General and administrative expenses
(510)
(97)
(12)
(66)
(5)
(690)
(82)
5-7
(772)
Depreciation, impairment and amortisation
(232)
(39)
(6)
(21)
(3)
(301)
\u2014
(301)
Other operating expenses
(1,353)
(375)
(47)
(182)
(14)
(1,971)
(86)
(2,057)
Bank levies and regulatory fees
(104)
(19)
(2)
(2)
(11)
(138)
\u2014
(138)
Total operating expenses
(1,457)
(394)
(49)
(184)
(25)
(2,109)
(86)
(2,195)
Operating profit/(loss) before impairment losses
1,685
735
82
221
76
2,799
(66)
2,733
Net credit impairment (charge)/writeback
(28)
83
(22)
(90)
2
(55)
\u2014
(55)
Operating profit/(loss)
1,657
818
60
131
78
2,744
(66)
2,678
Income/(loss) from equity accounted investments
21
\u2014
\u2014
6
(1)
26
\u2014
26
Loss on disposal of business
\u2014
\u2014
\u2014
\u2014
(2)
(2)
\u2014
(2)
Profit/(loss) before taxation
1,678
818
60
137
75
2,768
(66)
2,702
1. Exceptional items are shown separately above. These are items that Management view as distorting comparability of performance year-on-year. Exceptional items are set out in footnotes 2 to 7 below.
2. Run-off fee receivable on exit of a servicing arrangement.
3. Gain on disposal of loan portfolios and other operating income.
4. Restructuring costs.
5. Customer redress costs.
6. Inorganic transaction costs.
7. Other costs.
2024
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Exceptional
items
1
Total
*Net fee and commission income
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Customer accounts and payment services
338
26
1
12
1
378
\u2014
378
Card income
169
8
\u2014
12
\u2014
189
\u2014
189
Customer related foreign exchange
47
36
1
6
1
91
\u2014
91
Wealth and insurance2
37
45
\u2014
\u2014
\u2014
82
\u2014
82
Lending related fees
8
28
9
11
\u2014
56
\u2014
56
Investment banking3
\u2014
20
\u2014
\u2014
\u2014
20
\u2014
20
Other fees and commissions
6
1
2
\u2014
5
14
15
4
29
Fee and commission income
605
164
13
41
7
830
15
845
Customer accounts and payment services
(109)
(1)
\u2014
\u2014
\u2014
(110)
\u2014
(110)
Card expenses
(36)
(1)
\u2014
(4)
\u2014
(41)
\u2014
(41)
Wealth and insurance2
(3)
\u2014
\u2014
\u2014
\u2014
(3)
\u2014
(3)
Investment banking3
\u2014
(2)
\u2014
\u2014
\u2014
(2)
\u2014
(2)
Other fees and commissions
(2)
(2)
\u2014
\u2014
(4)
(8)
\u2014
(8)
Fee and commission expense
(150)
(6)
\u2014
(4)
(4)
(164)
\u2014
(164)
Total net fee and commission income
455
158
13
37
1
3
666
15
681
1. Exceptional items are shown separately above. These are items that Management view as distorting comparability of performance year-on-year.
2. Wealth refers to fees and commissions from financial planning and investment management services. Insurance refers to fees and commissions from selling insurance products, such as home,
car\u00a0and travel insurance on behalf of the Group's insurance partners.
3. Investment banking relates to fees and commissions earned from advisory, corporate research and transactional services for debt or equity raising.
4. Run-off fee receivable on exit of a servicing arrangement.
5. Wealth refers to fees and commissions from financial planning and investment management services. Insurance refers to fees and commissions from selling insurance
products, such as home, car and travel insurance on behalf of the Group's insurance partners.
3\u00a0 Segmental information continued
31 December 2025
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Other amounts \u2013 statement of financial position
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Loans and advances to customers:
\u2013 measured at amortised cost
42,231
16,518
6,248
6,028
91
71,116
\u2013 measured at FVTPL
\u2014
84
\u2014
\u2014
\u2014
84
Total loans and advances to customers
42,231
16,602
6,248
6,028
91
71,200
Deposits and advances from customers
89,893
17,561
305
8,440
1,472
117,671
31 December 2024
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Other amounts \u2013 statement of financial position
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Loans and advances to customers:
\u2013 measured at amortised cost
41,570
16,885
5,483
5,837
50
69,825
\u2013 measured at FVTPL
\u2014
64
\u2014
\u2014
\u2014
64
Total loans and advances to customers
41,570
16,949
5,483
5,837
50
69,889
Deposits and advances from customers
84,206
15,555
365
8,575
1,182
109,883
Year to 31 December 2025
Ireland
United
Kingdom
Rest of the
World
Total
Geographic information1
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Gross external revenue
3,868
557
86
4,511
Inter-geographical segment revenue
171
(111)
(60)
\u2014
Total revenue
4,039
446
26
4,511
Year to 31 December 2024
Ireland
United
Kingdom
Rest of the
World
Total
Geographic information1
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Gross external revenue
4,410
483
35
4,928
Inter-geographical segment revenue
21
31
(52)
\u2014
Total revenue
4,431
514
(17)
4,928
Revenue comprises all items included within total operating income as disclosed in the consolidated income statement.
31 December 2025
Ireland
United
Kingdom
Rest of the
World
Total
Geographic Information
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Non-current assets2
1,447
51
6
1,504
31 December 2024
Ireland
United
Kingdom
Rest of the
World
Total
Geographic Information
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Non-current assets2
1,387
55
8
1,450
1. For details of significant geographic concentrations, see the Risk Management section.
2. Non-current assets comprise intangible assets, goodwill and property, plant and equipment.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-598": { "value": "
2025
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Exceptional
items
1
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Operations by business segment
Net interest income
2,380
787
140
340
101
3,748
\u2014
3,748
Net fee and commission income*
465
171
16
41
(1)
692
\u2014
692
Other
28
38
1
(8)
5
64
7
2
71
Total other income
493
209
17
33
4
756
7
763
Total operating income
2,873
996
157
373
105
4,504
7
4,511
Personnel expenses
(589)
(237)
(31)
(102)
(7)
(966)
(16)
3
(982)
General and administrative expenses
(543)
(106)
(11)
(69)
(6)
(735)
8
4
(727)
Depreciation, impairment and amortisation
(224)
(37)
(4)
(22)
(4)
(291)
\u2014
(291)
Other operating expenses
(1,356)
(380)
(46)
(193)
(17)
(1,992)
(8)
(2,000)
Bank levies and regulatory fees
(104)
(16)
(1)
(1)
8
(114)
\u2014
(114)
Total operating expenses
(1,460)
(396)
(47)
(194)
(9)
(2,106)
(8)
(2,114)
Operating profit/(loss) before impairment losses
1,413
600
110
179
96
2,398
(1)
2,397
Net credit impairment charge
(47)
(12)
(71)
(42)
\u2014
(172)
\u2014
(172)
Operating profit/(loss)
1,366
588
39
137
96
2,226
(1)
2,225
Income from equity accounted investments
14
\u2014
\u2014
3
\u2014
17
157
5
174
Loss on disposal of business
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Profit before taxation
1,380
588
39
140
96
2,243
156
2,399
1. Exceptional items are shown separately above. These are items that Management view as distorting comparability of performance year-on-year. Exceptional items are set out in footnotes 2 to 5 below.
2. Gain on disposal of loan portfolios.
3. Restructuring costs.
4. Legal claims and customer redress writeback.
5. Sale of AIB Merchant Services.
2025
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Exceptional
items
Total
*Net fee and commission income
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Customer accounts and payment services
325
26
1
11
1
364
\u2014
364
Card income
169
9
\u2014
12
\u2014
190
\u2014
190
Customer related foreign exchange
45
33
\u2014
8
1
87
\u2014
87
Wealth and insurance1
39
51
\u2014
\u2014
\u2014
90
\u2014
90
Lending related fees
8
26
11
13
\u2014
58
\u2014
58
Investment banking2
\u2014
32
\u2014
\u2014
\u2014
32
\u2014
32
Other fees and commissions
3
1
4
\u2014
2
10
\u2014
10
Fee and commission income
589
178
16
44
4
831
\u2014
831
Customer accounts and payment services
(99)
(1)
\u2014
\u2014
\u2014
(100)
\u2014
(100)
Card expenses
(21)
(1)
\u2014
(3)
\u2014
(25)
\u2014
(25)
Wealth and insurance1
(3)
(3)
\u2014
\u2014
\u2014
(6)
\u2014
(6)
Investment banking2
\u2014
(1)
\u2014
\u2014
\u2014
(1)
\u2014
(1)
Other fees and commissions
(1)
(1)
\u2014
\u2014
(5)
(7)
\u2014
(7)
Fee and commission expense
(124)
(7)
\u2014
(3)
(5)
(139)
\u2014
(139)
Total net fee and commission income
465
171
16
41
(1)
692
\u2014
692
1. Wealth refers to fees and commissions from financial planning and investment management services. Insurance refers to fees and commissions from selling insurance products, such as home,
car\u00a0and travel insurance on behalf of the Group's insurance partners.
2. Investment banking relates to fees and commissions earned from advisory, corporate research and transactional services for debt or equity raising.
Fees and commissions which are an integral part of the effective interest rate are recognised as part of interest and similar income (note 4) or interest
and similar expense (note 5).
3\u00a0 Segmental information continued
2024
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Exceptional
items
1
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Operations by business segment
Net interest income
2,633
906
110
379
101
4,129
\u2014
4,129
Net fee and commission income*
455
158
13
37
3
666
15
2
681
Other
54
65
8
(11)
(3)
113
5
3
118
Other income
509
223
21
26
\u2014
779
20
799
Total operating income
3,142
1,129
131
405
101
4,908
20
4,928
Personnel expenses
(611)
(239)
(29)
(95)
(6)
(980)
(4)
4
(984)
General and administrative expenses
(510)
(97)
(12)
(66)
(5)
(690)
(82)
5-7
(772)
Depreciation, impairment and amortisation
(232)
(39)
(6)
(21)
(3)
(301)
\u2014
(301)
Other operating expenses
(1,353)
(375)
(47)
(182)
(14)
(1,971)
(86)
(2,057)
Bank levies and regulatory fees
(104)
(19)
(2)
(2)
(11)
(138)
\u2014
(138)
Total operating expenses
(1,457)
(394)
(49)
(184)
(25)
(2,109)
(86)
(2,195)
Operating profit/(loss) before impairment losses
1,685
735
82
221
76
2,799
(66)
2,733
Net credit impairment (charge)/writeback
(28)
83
(22)
(90)
2
(55)
\u2014
(55)
Operating profit/(loss)
1,657
818
60
131
78
2,744
(66)
2,678
Income/(loss) from equity accounted investments
21
\u2014
\u2014
6
(1)
26
\u2014
26
Loss on disposal of business
\u2014
\u2014
\u2014
\u2014
(2)
(2)
\u2014
(2)
Profit/(loss) before taxation
1,678
818
60
137
75
2,768
(66)
2,702
1. Exceptional items are shown separately above. These are items that Management view as distorting comparability of performance year-on-year. Exceptional items are set out in footnotes 2 to 7 below.
2. Run-off fee receivable on exit of a servicing arrangement.
3. Gain on disposal of loan portfolios and other operating income.
4. Restructuring costs.
5. Customer redress costs.
6. Inorganic transaction costs.
7. Other costs.
2024
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Exceptional
items
1
Total
*Net fee and commission income
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Customer accounts and payment services
338
26
1
12
1
378
\u2014
378
Card income
169
8
\u2014
12
\u2014
189
\u2014
189
Customer related foreign exchange
47
36
1
6
1
91
\u2014
91
Wealth and insurance2
37
45
\u2014
\u2014
\u2014
82
\u2014
82
Lending related fees
8
28
9
11
\u2014
56
\u2014
56
Investment banking3
\u2014
20
\u2014
\u2014
\u2014
20
\u2014
20
Other fees and commissions
6
1
2
\u2014
5
14
15
4
29
Fee and commission income
605
164
13
41
7
830
15
845
Customer accounts and payment services
(109)
(1)
\u2014
\u2014
\u2014
(110)
\u2014
(110)
Card expenses
(36)
(1)
\u2014
(4)
\u2014
(41)
\u2014
(41)
Wealth and insurance2
(3)
\u2014
\u2014
\u2014
\u2014
(3)
\u2014
(3)
Investment banking3
\u2014
(2)
\u2014
\u2014
\u2014
(2)
\u2014
(2)
Other fees and commissions
(2)
(2)
\u2014
\u2014
(4)
(8)
\u2014
(8)
Fee and commission expense
(150)
(6)
\u2014
(4)
(4)
(164)
\u2014
(164)
Total net fee and commission income
455
158
13
37
1
3
666
15
681
1. Exceptional items are shown separately above. These are items that Management view as distorting comparability of performance year-on-year.
2. Wealth refers to fees and commissions from financial planning and investment management services. Insurance refers to fees and commissions from selling insurance products, such as home,
car\u00a0and travel insurance on behalf of the Group's insurance partners.
3. Investment banking relates to fees and commissions earned from advisory, corporate research and transactional services for debt or equity raising.
4. Run-off fee receivable on exit of a servicing arrangement.
5. Wealth refers to fees and commissions from financial planning and investment management services. Insurance refers to fees and commissions from selling insurance
products, such as home, car and travel insurance on behalf of the Group's insurance partners.
4\u00a0 Interest and similar income
2025
2024
\u20ac m
\u20ac m
Interest on loans and advances to customers
3,026
2,715
Interest on loans and advances to banks
970
1,445
Interest on securities financing
198
271
Interest on investment securities
268
545
Total interest income on financial assets measured at amortised cost
4,462
4,976
Interest on investment securities at FVOCI
364
297
Interest income calculated using the effective interest rate method
4,826
5,273
Interest income on finance leases and hire purchase contracts
103
94
Interest income on financial assets at FVTPL
\u2014
9
Other interest and similar income
103
103
Total interest and similar income
4,929
5,376
of which relates to cash flow hedges transferred from other comprehensive income
(82)
(618)
of which relates to fair value hedges of interest rate risk
153
407
5\u00a0 Interest and similar expense
2025
2024
\u20ac m
\u20ac m
Interest on deposits and advances from customers
523
468
Interest on deposits and advances from banks
17
35
Interest on securities financing
28
25
Interest on debt securities in issue
439
540
Interest on lease liabilities
10
9
Interest on Tier 2 subordinated liabilities and other capital instruments
88
111
Interest expense on financial liabilities measured at amortised cost
1,105
1,188
Negative interest on financial assets
\u2014
2
Interest expense calculated using the effective interest rate method
1,105
1,190
Non-trading derivatives (not in hedge accounting relationships \u2013 economic hedges)
76
57
Other interest and similar expense
76
57
Total interest and similar expense
1,181
1,247
of which relates to cash flow hedges transferred from other comprehensive income
(25)
(49)
of which relates to fair value hedges of interest rate risk
61
220
of which relates to portfolio fair value hedges of interest rate risk
(45)
12
6\u00a0 Net trading income
2025
2024
\u20ac m
\u20ac m
Foreign exchange contracts
1
23
Interest rate contracts and debt securities
9
12
Credit derivative contracts
(1)
(1)
Equity investments, index contracts and warrants
(1)
(8)
Forward contract to acquire loans
\u2014
27
Virtual corporate power purchase agreement
1
(3)
Total net trading income
9
50
of which relates to hedging ineffectiveness on cash flow hedges
(1)
(6)
of which relates to hedging ineffectiveness on fair value hedges
(9)
(2)
7\u00a0 Net gain on other financial assets measured at FVTPL
2025
2024
\u20ac m
\u20ac m
Loans and advances to customers
13
12
Investment securities \u2013 equity
32
70
Other
3
\u2014
Total net gain on other financial assets measured at FVTPL
48
82
8\u00a0 Net gain on derecognition of financial assets measured at amortised cost
2025
2024
Carrying value of
derecognised
financial assets
measured at
amortised cost
Gain from
derecognition
Carrying value of
derecognised
financial assets
measured at
amortised cost
Gain from
derecognition
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Loans and advances to customers
520
8
284
2
Derecognition relates to the sale of portfolios of performing and non-performing loans and the sale of individual loans (for credit management purposes)
where credit deterioration had occurred.
9\u00a0 Other income/(expense)
2025
2024
\u20ac m
\u20ac m
Loss on disposal of investment securities at FVOCI \u2013 debt
(76)
(77)
Gain on termination of hedging swaps1
76
41
Dividend income
\u2014
1
Miscellaneous operating income
6
19
Total other income/(expense)
6
(16)
of which relates to cash flow hedges transferred from other comprehensive income
1
\u2014
1. The majority of the gain on termination of hedging swaps relates to the disposal of debt securities at FVOCI.
10\u00a0 Operating expenses
2025
2024
\u20ac m
\u20ac m
Personnel expenses:
Wages and salaries
770
777
Retirement benefits1
117
110
Social security costs
85
83
Other personnel expenses
32
29
Termination benefits2
17
19
1,021
1,018
Less: staff costs capitalised to intangible assets
(39)
(34)
Total personnel expenses3
982
984
General and administrative expenses
729
720
Customer redress
(2)
52
727
772
Bank levies and regulatory fees
114
138
Total operating expenses
1,823
1,894
1. Comprises a defined contribution charge of \u20ac99m ( 2024: a charge of \u20ac96m), a defined benefit expense charge of \u20ac7m (2024: a charge of \u20ac3m), and a long-term disability payments/death in service
benefit charge of \u20ac11m (2024: a charge of \u20ac11m). For details of retirement benefits, see note 26.
2. Represents charges for voluntary severance programmes.
3. The Group implemented a new \u2018Save As You Earn\u2019 (SAYE) scheme in September 2025. The scheme is available to eligible employees in Ireland and the UK and is classified as an equity-settled share-
based payment arrangement under IFRS 2 Share-based payment. The expense related to the SAYE scheme is not material for the year.
The average number of employees for 2025 and 2024 is set out in note 46.
11\u00a0 Net credit impairment charge
The following table analyses the income statement net credit impairment charge on financial instruments for the years to 31 December 2025 and\u00a0 2024.
2025
2024
Net remeasurement of ECL allowance
Measured
at amortised
cost
Measured
at FVOCI
Total
Measured
at amortised
cost
Measured
at FVOCI
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Loans and advances to banks
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Loans and advances to customers
(204)
\u2014
(204)
(92)
\u2014
(92)
Securities financing
1
\u2014
1
\u2014
\u2014
\u2014
Loan commitments
3
\u2014
3
1
\u2014
1
Financial guarantee contracts
5
\u2014
5
2
\u2014
2
Investment securities \u2013 debt
\u2014
(3)
(3)
2
\u2014
2
Net remeasurement of ECL allowance
(195)
(3)
(198)
(87)
\u2014
(87)
Recoveries of amounts previously written-off
26
\u2014
26
32
\u2014
32
Net credit impairment charge
(169)
(3)
(172)
(55)
\u2014
(55)
22\u00a0 Intangible assets and goodwill
2025
Software
externally
purchased
Software
internally
generated
Software
under
construction
Goodwill
Other
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Cost
At 1 January
216
1,899
164
128
42
2,449
Additions
4
117
155
\u2014
\u2014
276
Transfers in/(out)
\u2014
92
(92)
\u2014
\u2014
\u2014
Amounts written-off1
(51)
(10)
(2)
\u2014
\u2014
(63)
Exchange translation adjustments
\u2014
(3)
\u2014
\u2014
\u2014
(3)
At 31 December
169
2,095
225
128
42
2,659
Accumulated amortisation/impairment
At 1 January
191
1,288
\u2014
\u2014
36
1,515
Amortisation for the year2
11
203
\u2014
\u2014
5
219
Impairment for the year2
\u2014
1
2
\u2014
\u2014
3
Amounts written-off1
(51)
(10)
(2)
\u2014
\u2014
(63)
Exchange translation adjustments
\u2014
(2)
\u2014
\u2014
\u2014
(2)
At 31 December
151
1,480
\u2014
\u2014
41
1,672
Carrying value at 31 December
18
615
225
128
1
987
2024
Software
externally
purchased
Software
internally
generated
Software
under
construction
Goodwill
Other
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Cost
At 1 January
237
1,805
158
128
42
2,370
Additions
13
106
113
\u2014
\u2014
232
Transfers in/(out)
\u2014
105
(105)
\u2014
\u2014
\u2014
Amounts written-off1
(34)
(120)
(2)
\u2014
\u2014
(156)
Exchange translation adjustments
\u2014
3
\u2014
\u2014
\u2014
3
At 31 December
216
1,899
164
128
42
2,449
Accumulated amortisation/impairment
At 1 January
214
1,201
\u2014
\u2014
30
1,445
Amortisation for the year2
11
205
\u2014
\u2014
6
222
Impairment for the year2
\u2014
\u2014
2
\u2014
\u2014
2
Amounts written-off1
(34)
(120)
(2)
\u2014
\u2014
(156)
Exchange translation adjustments
\u2014
2
\u2014
\u2014
\u2014
2
At 31 December
191
1,288
\u2014
\u2014
36
1,515
Carrying value at 31 December
25
611
164
128
6
934
1. Relates to assets which are no longer in use with a Nil carrying value.
2. Included in \u2018Impairment and amortisation of intangible assets\u2019 in the consolidated income statement.
Future capital expenditure in relation to both intangible assets and property, plant and equipment is set out in note 23.
23\u00a0 Property, plant and equipment
2025
Owned assets
Leased assets
Property
Equipment
Assets under
construction
Right-of-use assets
Total
Freehold
Long
leasehold
Leasehold
under
50 years
Property
Other
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Cost
At 1 January
176
37
120
353
10
421
5
1,122
Transfers in/(out)
4
\u2014
4
1
(9)
\u2014
\u2014
\u2014
Additions
5
\u2014
3
31
20
14
1
74
Transfers to held for sale
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Amounts written-off1
(3)
\u2014
(10)
(105)
\u2014
(12)
(1)
(131)
Exchange translation adjustments
(1)
\u2014
\u2014
(1)
\u2014
(3)
\u2014
(5)
At 31 December
181
37
117
\u2014
279
21
420
5
1,060
Accumulated depreciation/impairment
At 1 January
60
15
67
288
\u2014
174
2
606
Depreciation charge for the year2
6
\u2014
8
21
\u2014
33
1
69
Impairment charge for the year2
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Amounts written-off1
(3)
\u2014
(10)
(105)
\u2014
(12)
(1)
(131)
Transfers to held for sale
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Exchange translation adjustments
\u2014
\u2014
\u2014
\u2014
\u2014
(1)
\u2014
(1)
At 31 December
63
15
65
204
\u2014
194
2
543
Carrying value at 31 December
118
22
52
75
21
226
3
517
2024
Owned assets
Leased assets
Property
Equipment
Assets under
construction
Right-of-use assets
Total
Freehold
Long
leasehold
Leasehold
under
50 years
Property
Other
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac
m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Cost
At 1 January
173
39
109
370
17
443
5
1,156
Transfers in/(out)
1
\u2014
13
2
(16)
\u2014
\u2014
\u2014
Additions
1
\u2014
2
13
9
8
1
34
Transfers to held for sale
\u2014
(2)
\u2014
\u2014
\u2014
\u2014
\u2014
(2)
Amounts written-off1
\u2014
\u2014
(4)
(33)
\u2014
(32)
(1)
(70)
Exchange translation adjustments
1
\u2014
\u2014
1
\u2014
2
\u2014
4
At 31 December
176
37
120
353
10
421
5
1,122
Accumulated depreciation/impairment
At 1 January
54
14
61
298
\u2014
171
\u2014
598
Depreciation charge for the year2
5
1
9
22
\u2014
34
2
73
Impairment charge for the year2
1
1
1
1
\u2014
\u2014
\u2014
4
Amounts written-off1
\u2014
\u2014
(4)
(33)
\u2014
(32)
(1)
(70)
Transfers to held for sale
\u2014
(1)
\u2014
\u2014
\u2014
\u2014
\u2014
(1)
Exchange translation adjustments
\u2014
\u2014
\u2014
\u2014
\u2014
1
1
2
At 31 December
60
15
67
288
\u2014
174
2
606
Carrying value at 31 December
116
22
53
65
10
247
3
516
1. Relates to assets which are no longer in use with a Nil carrying value.
2. Included in \u2018Impairment and depreciation of property, plant and equipment\u2019 in the consolidated income statement.
The net carrying value of property occupied by the Group for its own activities was \u20ac183 million (2024: \u20ac182 million) in relation to owned assets and
\u20ac226 million in relation to right-of-use assets (2024: \u20ac247 million), excluding those held as disposal groups and non-current assets held for sale.
Property leased to others by the Group had a net carrying value of \u20ac9 million (2024: \u20ac9 million).
23\u00a0 Property, plant and equipment continued
Future capital expenditure
The table below shows future capital expenditure in relation to both property, plant and equipment and intangible assets (excluding right-of-use assets).
2025
2024
\u20ac m
\u20ac m
Estimated outstanding commitments for capital expenditure not provided for in the financial statements1
58
2
Capital expenditure authorised but not yet contracted for1
\u2014
14
1. At 31 December 2025, the Group had a higher level of contractual commitments for capital expenditure compared to the previous year. As a result of these increased commitments, there was no
outstanding authorised capital expenditure that had been approved that had not yet been contracted for.
Leased assets
Property
The Group leases property for its offices and retail branch outlets. Lease terms are negotiated on an individual basis and contain a wide range of
different terms and conditions. Most of these leases carry statutory renewal rights, or include an option to renew the lease for an additional period after
the end of the contract term. Where the Group is likely to exercise these options, this has been taken into account in determining the lease liability and
the right-of-use asset.
Other
The Group leases motor vehicles, ATM offsite locations and IT equipment.
Lease liabilities
A maturity analysis of lease liabilities is shown in note 30.
Amounts recognised in income statement
2025
2024
\u20ac m
\u20ac m
Depreciation expense on right-of-use assets
34
36
Interest on lease liabilities (note 5)
10
9
Amounts recognised in statement of cash flows
2025
2024
\u20ac m
\u20ac m
Total cash outflow for leases during the year
40
43
of which comprises interest expense on lease liabilities (note 30)
10
9
of which comprises principal repayments on lease liabilities (note 30)
30
34
", "dimensions": { "concept": "ifrs-full:DisclosureOfProfitLossFromOperatingActivitiesExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-601": { "value": "
2025
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Exceptional
items
Total
*Net fee and commission income
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Customer accounts and payment services
325
26
1
11
1
364
\u2014
364
Card income
169
9
\u2014
12
\u2014
190
\u2014
190
Customer related foreign exchange
45
33
\u2014
8
1
87
\u2014
87
Wealth and insurance1
39
51
\u2014
\u2014
\u2014
90
\u2014
90
Lending related fees
8
26
11
13
\u2014
58
\u2014
58
Investment banking2
\u2014
32
\u2014
\u2014
\u2014
32
\u2014
32
Other fees and commissions
3
1
4
\u2014
2
10
\u2014
10
Fee and commission income
589
178
16
44
4
831
\u2014
831
Customer accounts and payment services
(99)
(1)
\u2014
\u2014
\u2014
(100)
\u2014
(100)
Card expenses
(21)
(1)
\u2014
(3)
\u2014
(25)
\u2014
(25)
Wealth and insurance1
(3)
(3)
\u2014
\u2014
\u2014
(6)
\u2014
(6)
Investment banking2
\u2014
(1)
\u2014
\u2014
\u2014
(1)
\u2014
(1)
Other fees and commissions
(1)
(1)
\u2014
\u2014
(5)
(7)
\u2014
(7)
Fee and commission expense
(124)
(7)
\u2014
(3)
(5)
(139)
\u2014
(139)
Total net fee and commission income
465
171
16
41
(1)
692
\u2014
692
1. Wealth refers to fees and commissions from financial planning and investment management services. Insurance refers to fees and commissions from selling insurance products, such as home,
car\u00a0and travel insurance on behalf of the Group's insurance partners.
2. Investment banking relates to fees and commissions earned from advisory, corporate research and transactional services for debt or equity raising.
Fees and commissions which are an integral part of the effective interest rate are recognised as part of interest and similar income (note 4) or interest
and similar expense (note 5).
2024
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Exceptional
items
1
Total
*Net fee and commission income
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Customer accounts and payment services
338
26
1
12
1
378
\u2014
378
Card income
169
8
\u2014
12
\u2014
189
\u2014
189
Customer related foreign exchange
47
36
1
6
1
91
\u2014
91
Wealth and insurance2
37
45
\u2014
\u2014
\u2014
82
\u2014
82
Lending related fees
8
28
9
11
\u2014
56
\u2014
56
Investment banking3
\u2014
20
\u2014
\u2014
\u2014
20
\u2014
20
Other fees and commissions
6
1
2
\u2014
5
14
15
4
29
Fee and commission income
605
164
13
41
7
830
15
845
Customer accounts and payment services
(109)
(1)
\u2014
\u2014
\u2014
(110)
\u2014
(110)
Card expenses
(36)
(1)
\u2014
(4)
\u2014
(41)
\u2014
(41)
Wealth and insurance2
(3)
\u2014
\u2014
\u2014
\u2014
(3)
\u2014
(3)
Investment banking3
\u2014
(2)
\u2014
\u2014
\u2014
(2)
\u2014
(2)
Other fees and commissions
(2)
(2)
\u2014
\u2014
(4)
(8)
\u2014
(8)
Fee and commission expense
(150)
(6)
\u2014
(4)
(4)
(164)
\u2014
(164)
Total net fee and commission income
455
158
13
37
1
3
666
15
681
1. Exceptional items are shown separately above. These are items that Management view as distorting comparability of performance year-on-year.
2. Wealth refers to fees and commissions from financial planning and investment management services. Insurance refers to fees and commissions from selling insurance products, such as home,
car\u00a0and travel insurance on behalf of the Group's insurance partners.
3. Investment banking relates to fees and commissions earned from advisory, corporate research and transactional services for debt or equity raising.
4. Run-off fee receivable on exit of a servicing arrangement.
5. Wealth refers to fees and commissions from financial planning and investment management services. Insurance refers to fees and commissions from selling insurance
products, such as home, car and travel insurance on behalf of the Group's insurance partners.
", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-600": { "value": "
2025
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Exceptional
items
Total
*Net fee and commission income
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Customer accounts and payment services
325
26
1
11
1
364
\u2014
364
Card income
169
9
\u2014
12
\u2014
190
\u2014
190
Customer related foreign exchange
45
33
\u2014
8
1
87
\u2014
87
Wealth and insurance1
39
51
\u2014
\u2014
\u2014
90
\u2014
90
Lending related fees
8
26
11
13
\u2014
58
\u2014
58
Investment banking2
\u2014
32
\u2014
\u2014
\u2014
32
\u2014
32
Other fees and commissions
3
1
4
\u2014
2
10
\u2014
10
Fee and commission income
589
178
16
44
4
831
\u2014
831
Customer accounts and payment services
(99)
(1)
\u2014
\u2014
\u2014
(100)
\u2014
(100)
Card expenses
(21)
(1)
\u2014
(3)
\u2014
(25)
\u2014
(25)
Wealth and insurance1
(3)
(3)
\u2014
\u2014
\u2014
(6)
\u2014
(6)
Investment banking2
\u2014
(1)
\u2014
\u2014
\u2014
(1)
\u2014
(1)
Other fees and commissions
(1)
(1)
\u2014
\u2014
(5)
(7)
\u2014
(7)
Fee and commission expense
(124)
(7)
\u2014
(3)
(5)
(139)
\u2014
(139)
Total net fee and commission income
465
171
16
41
(1)
692
\u2014
692
1. Wealth refers to fees and commissions from financial planning and investment management services. Insurance refers to fees and commissions from selling insurance products, such as home,
car\u00a0and travel insurance on behalf of the Group's insurance partners.
2. Investment banking relates to fees and commissions earned from advisory, corporate research and transactional services for debt or equity raising.
Fees and commissions which are an integral part of the effective interest rate are recognised as part of interest and similar income (note 4) or interest
and similar expense (note 5).
2024
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Exceptional
items
1
Total
*Net fee and commission income
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Customer accounts and payment services
338
26
1
12
1
378
\u2014
378
Card income
169
8
\u2014
12
\u2014
189
\u2014
189
Customer related foreign exchange
47
36
1
6
1
91
\u2014
91
Wealth and insurance2
37
45
\u2014
\u2014
\u2014
82
\u2014
82
Lending related fees
8
28
9
11
\u2014
56
\u2014
56
Investment banking3
\u2014
20
\u2014
\u2014
\u2014
20
\u2014
20
Other fees and commissions
6
1
2
\u2014
5
14
15
4
29
Fee and commission income
605
164
13
41
7
830
15
845
Customer accounts and payment services
(109)
(1)
\u2014
\u2014
\u2014
(110)
\u2014
(110)
Card expenses
(36)
(1)
\u2014
(4)
\u2014
(41)
\u2014
(41)
Wealth and insurance2
(3)
\u2014
\u2014
\u2014
\u2014
(3)
\u2014
(3)
Investment banking3
\u2014
(2)
\u2014
\u2014
\u2014
(2)
\u2014
(2)
Other fees and commissions
(2)
(2)
\u2014
\u2014
(4)
(8)
\u2014
(8)
Fee and commission expense
(150)
(6)
\u2014
(4)
(4)
(164)
\u2014
(164)
Total net fee and commission income
455
158
13
37
1
3
666
15
681
1. Exceptional items are shown separately above. These are items that Management view as distorting comparability of performance year-on-year.
2. Wealth refers to fees and commissions from financial planning and investment management services. Insurance refers to fees and commissions from selling insurance products, such as home,
car\u00a0and travel insurance on behalf of the Group's insurance partners.
3. Investment banking relates to fees and commissions earned from advisory, corporate research and transactional services for debt or equity raising.
4. Run-off fee receivable on exit of a servicing arrangement.
5. Wealth refers to fees and commissions from financial planning and investment management services. Insurance refers to fees and commissions from selling insurance
products, such as home, car and travel insurance on behalf of the Group's insurance partners.
Year to 31 December 2025
Ireland
United
Kingdom
Rest of the
World
Total
Geographic information1
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Gross external revenue
3,868
557
86
4,511
Inter-geographical segment revenue
171
(111)
(60)
\u2014
Total revenue
4,039
446
26
4,511
Year to 31 December 2024
Ireland
United
Kingdom
Rest of the
World
Total
Geographic information1
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Gross external revenue
4,410
483
35
4,928
Inter-geographical segment revenue
21
31
(52)
\u2014
Total revenue
4,431
514
(17)
4,928
Revenue comprises all items included within total operating income as disclosed in the consolidated income statement.
4\u00a0 Interest and similar income
2025
2024
\u20ac m
\u20ac m
Interest on loans and advances to customers
3,026
2,715
Interest on loans and advances to banks
970
1,445
Interest on securities financing
198
271
Interest on investment securities
268
545
Total interest income on financial assets measured at amortised cost
4,462
4,976
Interest on investment securities at FVOCI
364
297
Interest income calculated using the effective interest rate method
4,826
5,273
Interest income on finance leases and hire purchase contracts
103
94
Interest income on financial assets at FVTPL
\u2014
9
Other interest and similar income
103
103
Total interest and similar income
4,929
5,376
of which relates to cash flow hedges transferred from other comprehensive income
(82)
(618)
of which relates to fair value hedges of interest rate risk
153
407
5\u00a0 Interest and similar expense
2025
2024
\u20ac m
\u20ac m
Interest on deposits and advances from customers
523
468
Interest on deposits and advances from banks
17
35
Interest on securities financing
28
25
Interest on debt securities in issue
439
540
Interest on lease liabilities
10
9
Interest on Tier 2 subordinated liabilities and other capital instruments
88
111
Interest expense on financial liabilities measured at amortised cost
1,105
1,188
Negative interest on financial assets
\u2014
2
Interest expense calculated using the effective interest rate method
1,105
1,190
Non-trading derivatives (not in hedge accounting relationships \u2013 economic hedges)
76
57
Other interest and similar expense
76
57
Total interest and similar expense
1,181
1,247
of which relates to cash flow hedges transferred from other comprehensive income
(25)
(49)
of which relates to fair value hedges of interest rate risk
61
220
of which relates to portfolio fair value hedges of interest rate risk
(45)
12
6\u00a0 Net trading income
2025
2024
\u20ac m
\u20ac m
Foreign exchange contracts
1
23
Interest rate contracts and debt securities
9
12
Credit derivative contracts
(1)
(1)
Equity investments, index contracts and warrants
(1)
(8)
Forward contract to acquire loans
\u2014
27
Virtual corporate power purchase agreement
1
(3)
Total net trading income
9
50
of which relates to hedging ineffectiveness on cash flow hedges
(1)
(6)
of which relates to hedging ineffectiveness on fair value hedges
(9)
(2)
7\u00a0 Net gain on other financial assets measured at FVTPL
2025
2024
\u20ac m
\u20ac m
Loans and advances to customers
13
12
Investment securities \u2013 equity
32
70
Other
3
\u2014
Total net gain on other financial assets measured at FVTPL
48
82
8\u00a0 Net gain on derecognition of financial assets measured at amortised cost
2025
2024
Carrying value of
derecognised
financial assets
measured at
amortised cost
Gain from
derecognition
Carrying value of
derecognised
financial assets
measured at
amortised cost
Gain from
derecognition
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Loans and advances to customers
520
8
284
2
Derecognition relates to the sale of portfolios of performing and non-performing loans and the sale of individual loans (for credit management purposes)
where credit deterioration had occurred.
9\u00a0 Other income/(expense)
2025
2024
\u20ac m
\u20ac m
Loss on disposal of investment securities at FVOCI \u2013 debt
(76)
(77)
Gain on termination of hedging swaps1
76
41
Dividend income
\u2014
1
Miscellaneous operating income
6
19
Total other income/(expense)
6
(16)
of which relates to cash flow hedges transferred from other comprehensive income
1
\u2014
1. The majority of the gain on termination of hedging swaps relates to the disposal of debt securities at FVOCI.", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-599": { "value": "
2025
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Exceptional
items
Total
*Net fee and commission income
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Customer accounts and payment services
325
26
1
11
1
364
\u2014
364
Card income
169
9
\u2014
12
\u2014
190
\u2014
190
Customer related foreign exchange
45
33
\u2014
8
1
87
\u2014
87
Wealth and insurance1
39
51
\u2014
\u2014
\u2014
90
\u2014
90
Lending related fees
8
26
11
13
\u2014
58
\u2014
58
Investment banking2
\u2014
32
\u2014
\u2014
\u2014
32
\u2014
32
Other fees and commissions
3
1
4
\u2014
2
10
\u2014
10
Fee and commission income
589
178
16
44
4
831
\u2014
831
Customer accounts and payment services
(99)
(1)
\u2014
\u2014
\u2014
(100)
\u2014
(100)
Card expenses
(21)
(1)
\u2014
(3)
\u2014
(25)
\u2014
(25)
Wealth and insurance1
(3)
(3)
\u2014
\u2014
\u2014
(6)
\u2014
(6)
Investment banking2
\u2014
(1)
\u2014
\u2014
\u2014
(1)
\u2014
(1)
Other fees and commissions
(1)
(1)
\u2014
\u2014
(5)
(7)
\u2014
(7)
Fee and commission expense
(124)
(7)
\u2014
(3)
(5)
(139)
\u2014
(139)
Total net fee and commission income
465
171
16
41
(1)
692
\u2014
692
1. Wealth refers to fees and commissions from financial planning and investment management services. Insurance refers to fees and commissions from selling insurance products, such as home,
car\u00a0and travel insurance on behalf of the Group's insurance partners.
2. Investment banking relates to fees and commissions earned from advisory, corporate research and transactional services for debt or equity raising.
Fees and commissions which are an integral part of the effective interest rate are recognised as part of interest and similar income (note 4) or interest
and similar expense (note 5).
2024
Retail
Banking
Capital
Markets
C&IC
AIB UK
Group
Total
Exceptional
items
1
Total
*Net fee and commission income
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Customer accounts and payment services
338
26
1
12
1
378
\u2014
378
Card income
169
8
\u2014
12
\u2014
189
\u2014
189
Customer related foreign exchange
47
36
1
6
1
91
\u2014
91
Wealth and insurance2
37
45
\u2014
\u2014
\u2014
82
\u2014
82
Lending related fees
8
28
9
11
\u2014
56
\u2014
56
Investment banking3
\u2014
20
\u2014
\u2014
\u2014
20
\u2014
20
Other fees and commissions
6
1
2
\u2014
5
14
15
4
29
Fee and commission income
605
164
13
41
7
830
15
845
Customer accounts and payment services
(109)
(1)
\u2014
\u2014
\u2014
(110)
\u2014
(110)
Card expenses
(36)
(1)
\u2014
(4)
\u2014
(41)
\u2014
(41)
Wealth and insurance2
(3)
\u2014
\u2014
\u2014
\u2014
(3)
\u2014
(3)
Investment banking3
\u2014
(2)
\u2014
\u2014
\u2014
(2)
\u2014
(2)
Other fees and commissions
(2)
(2)
\u2014
\u2014
(4)
(8)
\u2014
(8)
Fee and commission expense
(150)
(6)
\u2014
(4)
(4)
(164)
\u2014
(164)
Total net fee and commission income
455
158
13
37
1
3
666
15
681
1. Exceptional items are shown separately above. These are items that Management view as distorting comparability of performance year-on-year.
2. Wealth refers to fees and commissions from financial planning and investment management services. Insurance refers to fees and commissions from selling insurance products, such as home,
car\u00a0and travel insurance on behalf of the Group's insurance partners.
3. Investment banking relates to fees and commissions earned from advisory, corporate research and transactional services for debt or equity raising.
4. Run-off fee receivable on exit of a servicing arrangement.
5. Wealth refers to fees and commissions from financial planning and investment management services. Insurance refers to fees and commissions from selling insurance
products, such as home, car and travel insurance on behalf of the Group's insurance partners.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFeeAndCommissionIncomeExpenseExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-605": { "value": "
4\u00a0 Interest and similar income
2025
2024
\u20ac m
\u20ac m
Interest on loans and advances to customers
3,026
2,715
Interest on loans and advances to banks
970
1,445
Interest on securities financing
198
271
Interest on investment securities
268
545
Total interest income on financial assets measured at amortised cost
4,462
4,976
Interest on investment securities at FVOCI
364
297
Interest income calculated using the effective interest rate method
4,826
5,273
Interest income on finance leases and hire purchase contracts
103
94
Interest income on financial assets at FVTPL
\u2014
9
Other interest and similar income
103
103
Total interest and similar income
4,929
5,376
of which relates to cash flow hedges transferred from other comprehensive income
(82)
(618)
of which relates to fair value hedges of interest rate risk
153
407
5\u00a0 Interest and similar expense
2025
2024
\u20ac m
\u20ac m
Interest on deposits and advances from customers
523
468
Interest on deposits and advances from banks
17
35
Interest on securities financing
28
25
Interest on debt securities in issue
439
540
Interest on lease liabilities
10
9
Interest on Tier 2 subordinated liabilities and other capital instruments
88
111
Interest expense on financial liabilities measured at amortised cost
1,105
1,188
Negative interest on financial assets
\u2014
2
Interest expense calculated using the effective interest rate method
1,105
1,190
Non-trading derivatives (not in hedge accounting relationships \u2013 economic hedges)
76
57
Other interest and similar expense
76
57
Total interest and similar expense
1,181
1,247
of which relates to cash flow hedges transferred from other comprehensive income
(25)
(49)
of which relates to fair value hedges of interest rate risk
61
220
of which relates to portfolio fair value hedges of interest rate risk
(45)
12
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-604": { "value": "
4\u00a0 Interest and similar income
2025
2024
\u20ac m
\u20ac m
Interest on loans and advances to customers
3,026
2,715
Interest on loans and advances to banks
970
1,445
Interest on securities financing
198
271
Interest on investment securities
268
545
Total interest income on financial assets measured at amortised cost
4,462
4,976
Interest on investment securities at FVOCI
364
297
Interest income calculated using the effective interest rate method
4,826
5,273
Interest income on finance leases and hire purchase contracts
103
94
Interest income on financial assets at FVTPL
\u2014
9
Other interest and similar income
103
103
Total interest and similar income
4,929
5,376
of which relates to cash flow hedges transferred from other comprehensive income
(82)
(618)
of which relates to fair value hedges of interest rate risk
153
407
5\u00a0 Interest and similar expense
2025
2024
\u20ac m
\u20ac m
Interest on deposits and advances from customers
523
468
Interest on deposits and advances from banks
17
35
Interest on securities financing
28
25
Interest on debt securities in issue
439
540
Interest on lease liabilities
10
9
Interest on Tier 2 subordinated liabilities and other capital instruments
88
111
Interest expense on financial liabilities measured at amortised cost
1,105
1,188
Negative interest on financial assets
\u2014
2
Interest expense calculated using the effective interest rate method
1,105
1,190
Non-trading derivatives (not in hedge accounting relationships \u2013 economic hedges)
76
57
Other interest and similar expense
76
57
Total interest and similar expense
1,181
1,247
of which relates to cash flow hedges transferred from other comprehensive income
(25)
(49)
of which relates to fair value hedges of interest rate risk
61
220
of which relates to portfolio fair value hedges of interest rate risk
(45)
12
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-603": { "value": "
4\u00a0 Interest and similar income
2025
2024
\u20ac m
\u20ac m
Interest on loans and advances to customers
3,026
2,715
Interest on loans and advances to banks
970
1,445
Interest on securities financing
198
271
Interest on investment securities
268
545
Total interest income on financial assets measured at amortised cost
4,462
4,976
Interest on investment securities at FVOCI
364
297
Interest income calculated using the effective interest rate method
4,826
5,273
Interest income on finance leases and hire purchase contracts
103
94
Interest income on financial assets at FVTPL
\u2014
9
Other interest and similar income
103
103
Total interest and similar income
4,929
5,376
of which relates to cash flow hedges transferred from other comprehensive income
(82)
(618)
of which relates to fair value hedges of interest rate risk
153
407
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-602": { "value": "
4\u00a0 Interest and similar income
2025
2024
\u20ac m
\u20ac m
Interest on loans and advances to customers
3,026
2,715
Interest on loans and advances to banks
970
1,445
Interest on securities financing
198
271
Interest on investment securities
268
545
Total interest income on financial assets measured at amortised cost
4,462
4,976
Interest on investment securities at FVOCI
364
297
Interest income calculated using the effective interest rate method
4,826
5,273
Interest income on finance leases and hire purchase contracts
103
94
Interest income on financial assets at FVTPL
\u2014
9
Other interest and similar income
103
103
Total interest and similar income
4,929
5,376
of which relates to cash flow hedges transferred from other comprehensive income
(82)
(618)
of which relates to fair value hedges of interest rate risk
153
407
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-607": { "value": "
5\u00a0 Interest and similar expense
2025
2024
\u20ac m
\u20ac m
Interest on deposits and advances from customers
523
468
Interest on deposits and advances from banks
17
35
Interest on securities financing
28
25
Interest on debt securities in issue
439
540
Interest on lease liabilities
10
9
Interest on Tier 2 subordinated liabilities and other capital instruments
88
111
Interest expense on financial liabilities measured at amortised cost
1,105
1,188
Negative interest on financial assets
\u2014
2
Interest expense calculated using the effective interest rate method
1,105
1,190
Non-trading derivatives (not in hedge accounting relationships \u2013 economic hedges)
76
57
Other interest and similar expense
76
57
Total interest and similar expense
1,181
1,247
of which relates to cash flow hedges transferred from other comprehensive income
(25)
(49)
of which relates to fair value hedges of interest rate risk
61
220
of which relates to portfolio fair value hedges of interest rate risk
(45)
12
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-606": { "value": "
5\u00a0 Interest and similar expense
2025
2024
\u20ac m
\u20ac m
Interest on deposits and advances from customers
523
468
Interest on deposits and advances from banks
17
35
Interest on securities financing
28
25
Interest on debt securities in issue
439
540
Interest on lease liabilities
10
9
Interest on Tier 2 subordinated liabilities and other capital instruments
88
111
Interest expense on financial liabilities measured at amortised cost
1,105
1,188
Negative interest on financial assets
\u2014
2
Interest expense calculated using the effective interest rate method
1,105
1,190
Non-trading derivatives (not in hedge accounting relationships \u2013 economic hedges)
76
57
Other interest and similar expense
76
57
Total interest and similar expense
1,181
1,247
of which relates to cash flow hedges transferred from other comprehensive income
(25)
(49)
of which relates to fair value hedges of interest rate risk
61
220
of which relates to portfolio fair value hedges of interest rate risk
(45)
12
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-608": { "value": "
6\u00a0 Net trading income
2025
2024
\u20ac m
\u20ac m
Foreign exchange contracts
1
23
Interest rate contracts and debt securities
9
12
Credit derivative contracts
(1)
(1)
Equity investments, index contracts and warrants
(1)
(8)
Forward contract to acquire loans
\u2014
27
Virtual corporate power purchase agreement
1
(3)
Total net trading income
9
50
of which relates to hedging ineffectiveness on cash flow hedges
(1)
(6)
of which relates to hedging ineffectiveness on fair value hedges
(9)
(2)
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradingIncomeExpenseExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-610": { "value": "
7\u00a0 Net gain on other financial assets measured at FVTPL
2025
2024
\u20ac m
\u20ac m
Loans and advances to customers
13
12
Investment securities \u2013 equity
32
70
Other
3
\u2014
Total net gain on other financial assets measured at FVTPL
48
82
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsDesignatedAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-609": { "value": "
7\u00a0 Net gain on other financial assets measured at FVTPL
2025
2024
\u20ac m
\u20ac m
Loans and advances to customers
13
12
Investment securities \u2013 equity
32
70
Other
3
\u2014
Total net gain on other financial assets measured at FVTPL
48
82
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-613": { "value": "
9\u00a0 Other income/(expense)
2025
2024
\u20ac m
\u20ac m
Loss on disposal of investment securities at FVOCI \u2013 debt
(76)
(77)
Gain on termination of hedging swaps1
76
41
Dividend income
\u2014
1
Miscellaneous operating income
6
19
Total other income/(expense)
6
(16)
of which relates to cash flow hedges transferred from other comprehensive income
1
\u2014
1. The majority of the gain on termination of hedging swaps relates to the disposal of debt securities at FVOCI.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-612": { "value": "
9\u00a0 Other income/(expense)
2025
2024
\u20ac m
\u20ac m
Loss on disposal of investment securities at FVOCI \u2013 debt
(76)
(77)
Gain on termination of hedging swaps1
76
41
Dividend income
\u2014
1
Miscellaneous operating income
6
19
Total other income/(expense)
6
(16)
of which relates to cash flow hedges transferred from other comprehensive income
1
\u2014
1. The majority of the gain on termination of hedging swaps relates to the disposal of debt securities at FVOCI.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-611": { "value": "
9\u00a0 Other income/(expense)
2025
2024
\u20ac m
\u20ac m
Loss on disposal of investment securities at FVOCI \u2013 debt
(76)
(77)
Gain on termination of hedging swaps1
76
41
Dividend income
\u2014
1
Miscellaneous operating income
6
19
Total other income/(expense)
6
(16)
of which relates to cash flow hedges transferred from other comprehensive income
1
\u2014
1. The majority of the gain on termination of hedging swaps relates to the disposal of debt securities at FVOCI.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-616": { "value": "
10\u00a0 Operating expenses
2025
2024
\u20ac m
\u20ac m
Personnel expenses:
Wages and salaries
770
777
Retirement benefits1
117
110
Social security costs
85
83
Other personnel expenses
32
29
Termination benefits2
17
19
1,021
1,018
Less: staff costs capitalised to intangible assets
(39)
(34)
Total personnel expenses3
982
984
General and administrative expenses
729
720
Customer redress
(2)
52
727
772
Bank levies and regulatory fees
114
138
Total operating expenses
1,823
1,894
1. Comprises a defined contribution charge of \u20ac99m ( 2024: a charge of \u20ac96m), a defined benefit expense charge of \u20ac7m (2024: a charge of \u20ac3m), and a long-term disability payments/death in service
benefit charge of \u20ac11m (2024: a charge of \u20ac11m). For details of retirement benefits, see note 26.
2. Represents charges for voluntary severance programmes.
3. The Group implemented a new \u2018Save As You Earn\u2019 (SAYE) scheme in September 2025. The scheme is available to eligible employees in Ireland and the UK and is classified as an equity-settled share-
based payment arrangement under IFRS 2 Share-based payment. The expense related to the SAYE scheme is not material for the year.
The average number of employees for 2025 and 2024 is set out in note 46.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-615": { "value": "
10\u00a0 Operating expenses
2025
2024
\u20ac m
\u20ac m
Personnel expenses:
Wages and salaries
770
777
Retirement benefits1
117
110
Social security costs
85
83
Other personnel expenses
32
29
Termination benefits2
17
19
1,021
1,018
Less: staff costs capitalised to intangible assets
(39)
(34)
Total personnel expenses3
982
984
General and administrative expenses
729
720
Customer redress
(2)
52
727
772
Bank levies and regulatory fees
114
138
Total operating expenses
1,823
1,894
1. Comprises a defined contribution charge of \u20ac99m ( 2024: a charge of \u20ac96m), a defined benefit expense charge of \u20ac7m (2024: a charge of \u20ac3m), and a long-term disability payments/death in service
benefit charge of \u20ac11m (2024: a charge of \u20ac11m). For details of retirement benefits, see note 26.
2. Represents charges for voluntary severance programmes.
3. The Group implemented a new \u2018Save As You Earn\u2019 (SAYE) scheme in September 2025. The scheme is available to eligible employees in Ireland and the UK and is classified as an equity-settled share-
based payment arrangement under IFRS 2 Share-based payment. The expense related to the SAYE scheme is not material for the year.
The average number of employees for 2025 and 2024 is set out in note 46.
", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-614": { "value": "
10\u00a0 Operating expenses
2025
2024
\u20ac m
\u20ac m
Personnel expenses:
Wages and salaries
770
777
Retirement benefits1
117
110
Social security costs
85
83
Other personnel expenses
32
29
Termination benefits2
17
19
1,021
1,018
Less: staff costs capitalised to intangible assets
(39)
(34)
Total personnel expenses3
982
984
General and administrative expenses
729
720
Customer redress
(2)
52
727
772
Bank levies and regulatory fees
114
138
Total operating expenses
1,823
1,894
1. Comprises a defined contribution charge of \u20ac99m ( 2024: a charge of \u20ac96m), a defined benefit expense charge of \u20ac7m (2024: a charge of \u20ac3m), and a long-term disability payments/death in service
benefit charge of \u20ac11m (2024: a charge of \u20ac11m). For details of retirement benefits, see note 26.
2. Represents charges for voluntary severance programmes.
3. The Group implemented a new \u2018Save As You Earn\u2019 (SAYE) scheme in September 2025. The scheme is available to eligible employees in Ireland and the UK and is classified as an equity-settled share-
based payment arrangement under IFRS 2 Share-based payment. The expense related to the SAYE scheme is not material for the year.
The average number of employees for 2025 and 2024 is set out in note 46.
", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-617": { "value": "
12\u00a0 Auditor's remuneration
The disclosure of auditor\u2019s remuneration is in accordance with Section 322 of the Companies Act 2014. This mandates disclosure of remuneration paid/
payable to the Group Auditor only (PricewaterhouseCoopers), for services relating to the audit of the Group and relevant subsidiary financial statements
in the categories set out below.
2025
2024
Auditor\u2019s remuneration (excluding VAT)
Ireland
Overseas
Total
Ireland
Overseas
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Audit of Group financial statements
3.4
0.9
4.3
3.9
0.9
4.8
Other assurance services
1.2
0.1
1.3
1.5
0.1
1.6
Other non-audit services
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Total auditor\u2019s remuneration
4.6
1.0
5.6
5.4
1.0
6.4
The amounts in the table above relate to fees payable to PricewaterhouseCoopers, split between those payable to the statutory auditors,
PricewaterhouseCoopers in Ireland and fees paid to overseas auditors, PricewaterhouseCoopers LLP in the UK.
Other assurance services include remuneration for additional assurance issued by the firms outside of the audit of the statutory financial statements of
the Group and its subsidiaries such as sustainability reporting, letters of comfort and other regulatory reporting. This remuneration includes
assignments where the Auditor, in Ireland, provides assurance to third parties.
The Group policy on the provision of non-audit services to the parent and its subsidiary companies includes the prohibition on the provision of certain
services and the pre-approval by the Board Audit Committee of the engagement of the Auditor in other instances. The Board Audit Committee has
reviewed the level of non-audit services remuneration and is satisfied that it has not affected the independence of the Auditor. It is Group policy to
subject all large consultancy assignments to competitive tender, where appropriate.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-619": { "value": "
13\u00a0 Taxation
2025
2024
\u20ac m
\u20ac m
Current tax
Corporation tax in Ireland
Current tax on income for the year
(8)
(8)
Adjustments in respect of prior years
\u2014
1
(8)
(7)
Foreign tax
Current tax on income for the year
(44)
(52)
Adjustments in respect of prior years
\u2014
(1)
(44)
(53)
Current tax charge for the year
(52)
(60)
Deferred tax
Origination and reversal of temporary differences
(4)
4
Adjustments in respect of prior years
(2)
(1)
Recognition of deferred tax assets in respect of current and prior period losses
64
25
Reduction in carrying value of deferred tax assets in respect of carried forward losses
(266)
(319)
Deferred tax charge for the year
(208)
(291)
Total tax charge for the year
(260)
(351)
Effective tax rate
10.8%
13.0%
Factors affecting the effective tax rate
The following table sets out the difference between the tax charge that would result from applying the standard corporation tax rate in Ireland of 12.5%
and the actual tax charge for the year:
2025
2024
\u20ac m
%
\u20ac m
%
Profit before tax
2,399
2,702
Tax charge at standard corporation tax rate in Ireland of 12.5%
(300)
12.5
(338)
12.5
Effects of:
Foreign profits taxed at other rates
(36)
1.5
(34)
1.3
Expenses not deductible for tax purposes
(16)
0.7
(20)
0.6
Exempted income, income at reduced rates and tax credits
28
(1.2)
1
\u2014
Share of results of equity accounted investments shown post tax in the income statement
3
(0.1)
5
(0.2)
Income taxed at higher tax rates
(5)
0.2
(7)
0.3
Tax legislation on equity distributions
12
(0.5)
11
(0.4)
Deferred tax assets not recognised/reversal of amounts previously not recognised
64
(2.7)
30
(1.1)
Other tax adjustments
(8)
0.3
1
\u2014
Adjustments to tax charge in respect of prior years
(2)
0.1
\u2014
\u2014
Tax charge
(260)
10.8
(351)
13.0
The Group is within the scope of the global minimum top-up tax under Pillar Two tax legislation from 1 January 2024, however the Group is not liable to
any additional top-up tax expense for the period in Ireland nor in any of the other jurisdictions in which it operates. This is because the Pillar Two effective
tax rate in each of those jurisdictions is above 15% or transitional exemptions apply.
13\u00a0 Taxation continued
Recognised within other comprehensive income in the Consolidated Statement of Comprehensive Income
The following table sets out the movements recognised in other comprehensive income in the period before and after the effect of tax.
2025
2024
Gross
Tax
Net
Gross
Tax
Net
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Revenue reserves
Remeasurement of retirement benefit assets/(liabilities)
(23)
7
(16)
(18)
5
(13)
Total
(23)
7
(16)
(18)
5
(13)
Foreign currency translation reserves
Net gains/(losses) on net investment hedges
69
(9)
60
(66)
8
(58)
Net exchange differences on translation of foreign operations
(140)
\u2014
(140)
127
\u2014
127
Total
(71)
(9)
(80)
61
8
69
Cash flow hedging reserves
Amounts reclassified from the cash flow hedging reserves to the income statement as a
reclassification adjustment when the hedged item affects the income statement
56
(7)
49
569
(71)
498
Hedging (losses)/gains recognised in other comprehensive income
(271)
22
(249)
(382)
51
(331)
Total
(215)
15
(200)
187
(20)
167
Investment debt securities at FVOCI reserves
Fair value losses reclassified to income statement
76
(8)
68
77
(4)
73
Fair value gains/(losses) recognised in other comprehensive income
98
(13)
85
(148)
18
(130)
Total
174
(21)
153
(71)
14
(57)
Total movements recognised in other comprehensive income
(135)
(8)
(143)
159
7
166
25\u00a0 Deferred taxation
2025
2024
\u20ac m
\u20ac m
Deferred tax assets:
Unutilised tax losses
1,975
2,203
Cash flow hedges
81
73
Transition to IFRS 9
2
3
Assets used in the business
44
47
Retirement benefits
2
3
Assets leased to customers
15
15
Investment securities
\u2014
15
Other
2
3
Total gross deferred tax assets
2,121
2,362
Deferred tax liabilities:
Cash flow hedges
\u2014
(7)
Retirement benefits
(2)
(6)
Assets used in the business
(49)
(51)
Investment securities
(6)
\u2014
Acquisition of subsidiary
\u2014
(1)
Other
(7)
(8)
Total gross deferred tax liabilities
(64)
(73)
Net deferred tax assets
2,057
2,289
Represented on the statement of financial position:
Deferred tax assets
2,074
2,303
Deferred tax liabilities
(17)
(14)
2,057
2,289
Net deferred tax assets at 31 December 2025 of \u20ac1,826 million (2024: \u20ac2,076 million) are expected to be recovered after more than 12 months. For each
of the years ended 31 December 2025 and 2024, full provision has been made for capital allowances and other temporary differences.
Analysis of movements in deferred taxation
2025
2024
\u20ac m
\u20ac m
At 1 January
2,289
2,558
Exchange translation and other adjustments
(16)
15
Deferred tax through other comprehensive income (note 13)
(8)
7
Income statement1 (note 13)
(208)
(291)
At 31 December
2,057
2,289
1. During 2025 the Group recognised a net charge of \u20ac202m to the income statement in respect of deferred tax assets arising from unutilised tax losses (2024: \u20ac294m). In addition, the carrying value
decreased by \u20ac26m (2024: increase of \u20ac23m) due to exchange translation differences and other adjustments. As a result the recognised deferred tax asset relating to unutilised tax losses amounted to
\u20ac1,975m at the reporting date (2024: \u20ac2,203m).
Commentary on the basis of recognition of deferred tax assets on unused tax losses is included in note 2. The Group's deferred tax asset for unutilised
losses at 31 December 2025 and 2024 comprises the following:
Unutilised tax losses
2025
2024
\u20ac m
\u20ac m
Irish tax losses
1,729
1,995
UK tax losses
219
191
US tax losses
27
17
At 31 December
1,975
2,203
25\u00a0 Deferred taxation continued
For certain other subsidiaries and branches, the Group has concluded that it is more likely than not that there will be insufficient profits to support the
recognition of deferred tax assets. The Group has not recognised deferred tax assets for the following unutilised losses and foreign tax credits at\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0
31 December 2025 and 2024.
Tax losses and foreign tax credits for which no deferred tax asset is recognised
2025
2024
\u20ac m
\u20ac m
Irish tax on unused tax losses
152
155
Foreign tax (UK and USA) on unused tax losses
2,687
3,078
Foreign tax credits for Irish tax purposes
19
19
At 31 December1
2,858
3,252
1. None of these tax losses and foreign tax credits for which no deferred tax asset is recognised have an expiry date.
The aggregate amount of temporary differences associated with investments in subsidiaries, branches and associates for which deferred tax liabilities
have not been recognised amounted to Nil (2024: Nil). Deferred tax recognised directly in equity amounted to Nil (2024: Nil).
", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-618": { "value": "
13\u00a0 Taxation
2025
2024
\u20ac m
\u20ac m
Current tax
Corporation tax in Ireland
Current tax on income for the year
(8)
(8)
Adjustments in respect of prior years
\u2014
1
(8)
(7)
Foreign tax
Current tax on income for the year
(44)
(52)
Adjustments in respect of prior years
\u2014
(1)
(44)
(53)
Current tax charge for the year
(52)
(60)
Deferred tax
Origination and reversal of temporary differences
(4)
4
Adjustments in respect of prior years
(2)
(1)
Recognition of deferred tax assets in respect of current and prior period losses
64
25
Reduction in carrying value of deferred tax assets in respect of carried forward losses
(266)
(319)
Deferred tax charge for the year
(208)
(291)
Total tax charge for the year
(260)
(351)
Effective tax rate
10.8%
13.0%
Factors affecting the effective tax rate
The following table sets out the difference between the tax charge that would result from applying the standard corporation tax rate in Ireland of 12.5%
and the actual tax charge for the year:
2025
2024
\u20ac m
%
\u20ac m
%
Profit before tax
2,399
2,702
Tax charge at standard corporation tax rate in Ireland of 12.5%
(300)
12.5
(338)
12.5
Effects of:
Foreign profits taxed at other rates
(36)
1.5
(34)
1.3
Expenses not deductible for tax purposes
(16)
0.7
(20)
0.6
Exempted income, income at reduced rates and tax credits
28
(1.2)
1
\u2014
Share of results of equity accounted investments shown post tax in the income statement
3
(0.1)
5
(0.2)
Income taxed at higher tax rates
(5)
0.2
(7)
0.3
Tax legislation on equity distributions
12
(0.5)
11
(0.4)
Deferred tax assets not recognised/reversal of amounts previously not recognised
64
(2.7)
30
(1.1)
Other tax adjustments
(8)
0.3
1
\u2014
Adjustments to tax charge in respect of prior years
(2)
0.1
\u2014
\u2014
Tax charge
(260)
10.8
(351)
13.0
The Group is within the scope of the global minimum top-up tax under Pillar Two tax legislation from 1 January 2024, however the Group is not liable to
any additional top-up tax expense for the period in Ireland nor in any of the other jurisdictions in which it operates. This is because the Pillar Two effective
tax rate in each of those jurisdictions is above 15% or transitional exemptions apply.
13\u00a0 Taxation continued
Recognised within other comprehensive income in the Consolidated Statement of Comprehensive Income
The following table sets out the movements recognised in other comprehensive income in the period before and after the effect of tax.
2025
2024
Gross
Tax
Net
Gross
Tax
Net
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Revenue reserves
Remeasurement of retirement benefit assets/(liabilities)
(23)
7
(16)
(18)
5
(13)
Total
(23)
7
(16)
(18)
5
(13)
Foreign currency translation reserves
Net gains/(losses) on net investment hedges
69
(9)
60
(66)
8
(58)
Net exchange differences on translation of foreign operations
(140)
\u2014
(140)
127
\u2014
127
Total
(71)
(9)
(80)
61
8
69
Cash flow hedging reserves
Amounts reclassified from the cash flow hedging reserves to the income statement as a
reclassification adjustment when the hedged item affects the income statement
56
(7)
49
569
(71)
498
Hedging (losses)/gains recognised in other comprehensive income
(271)
22
(249)
(382)
51
(331)
Total
(215)
15
(200)
187
(20)
167
Investment debt securities at FVOCI reserves
Fair value losses reclassified to income statement
76
(8)
68
77
(4)
73
Fair value gains/(losses) recognised in other comprehensive income
98
(13)
85
(148)
18
(130)
Total
174
(21)
153
(71)
14
(57)
Total movements recognised in other comprehensive income
(135)
(8)
(143)
159
7
166
", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-622": { "value": "
14\u00a0 Trading portfolio
2025
2024
Trading
portfolio
assets
Trading
portfolio
liabilities
Trading
portfolio
assets
Trading
portfolio
liabilities
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Equity securities
10
(3)
15
(5)
Debt securities
276
(522)
121
(257)
Total
286
(525)
136
(262)
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialAssetsHeldForTradingExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-621": { "value": "
14\u00a0 Trading portfolio
2025
2024
Trading
portfolio
assets
Trading
portfolio
liabilities
Trading
portfolio
assets
Trading
portfolio
liabilities
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Equity securities
10
(3)
15
(5)
Debt securities
276
(522)
121
(257)
Total
286
(525)
136
(262)
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialLiabilitiesHeldForTradingExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-620": { "value": "
14\u00a0 Trading portfolio
2025
2024
Trading
portfolio
assets
Trading
portfolio
liabilities
Trading
portfolio
assets
Trading
portfolio
liabilities
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Equity securities
10
(3)
15
(5)
Debt securities
276
(522)
121
(257)
Total
286
(525)
136
(262)
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsHeldForTradingExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-623": { "value": "
15\u00a0 Derivative financial instruments
Derivatives are entered into to service customer requirements, to manage the Group\u2019s interest rate, exchange rate, equity and credit exposures and for
trading purposes. Derivative instruments are contractual agreements whose value is derived from price movements in underlying assets, interest rates,
foreign exchange rates or indices. All hedging instruments are included within derivative financial instruments on the statement of financial position and
ineffectiveness is included within net trading income in the income statement.
Market risk is the exposure to potential loss through holding interest rate, exchange rate and equity positions in the face of absolute and relative price
movements, interest rate volatility, movements in exchange rates and shifts in liquidity. Credit risk is the exposure to loss should the counterparty to a
financial instrument fail to perform in accordance with the terms of the contract.
Credit risk in derivative contracts is the risk that the Group\u2019s counterparty in the contract defaults prior to maturity at a time when the Group has a\u00a0claim
on the counterparty under the contract (i.e. contracts with a positive fair value). The Group would then have to replace the contract at the current market
rate, which may result in a loss. For risk management purposes, consideration is taken of the fact that not all counterparties to derivative positions are
expected to default at the point where the Group is most exposed to them. While notional principal amounts are used to express the volume of
derivative transactions, the amounts subject to credit risk are much lower because derivative contracts typically involve payments based on the net
differences between specified prices or rates.
The following table presents the notional principal amount of interest rate, exchange rate, equity, credit and commodity derivative contracts together
with the positive and negative fair values attaching to those contracts at 31 December 2025 and 2024:
2025
2024
Notional
principal
amount
Fair values
Notional
principal
amount
Fair values
Assets
Liabilities
Assets
Liabilities
Derivative financial instruments
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Interest rate contracts
100,910
1,582
(1,366)
86,671
2,109
(1,689)
Exchange rate contracts
17,460
59
(38)
8,685
35
(112)
Equity contracts
24
\u2014
(1)
41
\u2014
\u2014
Credit derivatives
35
\u2014
(1)
83
\u2014
(3)
Virtual corporate power purchase agreement
2
\u2014
(2)
2
\u2014
(3)
Total
118,431
1,641
(1,408)
95,482
2,144
(1,807)
The Group uses the same credit control and risk management policies in undertaking all off-balance sheet commitments as it does for on-balance sheet
lending including counterparty credit approval, limit setting and monitoring procedures. In addition, derivative instruments are subject to the market risk
policy and control framework as described in the Risk Management section of this report.
The Group has the following concentration of exposures in respect of notional principal amount and positive fair value of derivative financial
instruments. The concentrations are based primarily on the location of the office recording the transaction.
Notional principal amount
Positive fair value
2025
2024
2025
2024
Geographical information
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Ireland
114,588
91,221
1,598
2,064
United Kingdom
3,737
4,174
41
78
United States of America
106
87
2
2
Total
118,431
95,482
1,641
2,144
Trading book activities
The Group maintains trading positions in a variety of financial instruments including derivatives. These derivative financial instruments include interest
rate, foreign exchange, equity and credit derivatives. Most of these positions arise as a result of activity generated by corporate customers while the
remainder represent trading decisions of the Group\u2019s derivative and foreign exchange traders with a view to generating incremental income.
All trading activity is conducted within risk limits approved by the Board. Systems are in place which measure risks and profitability associated with
derivative trading positions as market movements occur. Independent risk control units monitor these risks.
Banking book activities
In addition to meeting customer needs, the Group\u2019s principal objective in holding or transacting derivatives is the management of interest rate and
foreign exchange risks which arise within the banking book through the operations of the Group as outlined below. Market risk within the banking book is
also controlled through limits approved by the Board and monitored by an independent second line risk function.
The operations of the Group are exposed to interest rate risk arising from the fact that assets and liabilities mature or reprice at different times or
in\u00a0differing amounts. Derivatives are used to modify the repricing or maturity characteristics of assets and liabilities in a cost-efficient manner. This
flexibility helps the Group to achieve interest rate risk management objectives. Similarly, foreign exchange derivatives can be used to hedge the Group\u2019s
exposure to foreign exchange risk.
15\u00a0 Derivative financial instruments continued
Banking book activities continued
The fair values of derivatives fluctuate as the underlying market interest rates or foreign exchange rates change. If the derivatives are purchased or sold
as hedges of statement of financial position items, the change in fair value of the derivatives will generally be offset by the change in fair value of the
hedged items.
To achieve its risk management objectives, the Group uses a combination of derivative financial instruments, particularly interest rate swaps, cross
currency interest rate swaps, futures, options and currency swaps, as well as other contracts. The risk that counterparties to derivative contracts (both
trading and banking book) might default on their obligations is monitored on an ongoing basis. The level of credit risk is minimised by dealing with
counterparties of good credit standing, by the use of Credit Support Annexes and ISDA Netting Agreements and increased clearing of derivatives through
Central Clearing Counterparties (CCPs). As the traded instruments are recognised at fair value, any changes in fair value directly affect reported income
for a given period.
The following table shows the notional principal amount and the fair value of derivative financial instruments analysed by product and purpose at\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0
31 December 2025 and 2024. A description of how the fair values of derivatives is determined is set out in note 42.
2025
2024
Notional
principal
amount
Fair values
Notional
principal
amount
Fair values
Assets
Liabilities
Assets
Liabilities
Derivatives held for trading
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Interest rate swaps \u2013 over-the-counter (OTC)
4,773
61
(238)
5,700
107
(321)
Interest rate swaps \u2013 OTC CCPs
4,917
235
(37)
5,111
274
(36)
Interest rate options bought and sold \u2013 OTC
3,044
6
(5)
3,701
9
(10)
Interest rate futures bought and sold \u2013 exchange traded
362
\u2014
(1)
221
\u2014
\u2014
Total interest rate derivatives
13,096
302
(281)
14,733
390
(367)
Foreign exchange contracts \u2013 OTC
16,061
46
(34)
7,246
35
(88)
Total foreign exchange derivatives
16,061
46
(34)
7,246
35
(88)
Equity total return swaps \u2013 OTC
24
\u2014
(1)
41
\u2014
\u2014
Credit derivatives \u2013 OTC CCPs
35
\u2014
(1)
83
\u2014
(3)
Virtual corporate power purchase agreement
2
\u2014
(2)
2
\u2014
(3)
Total equity, credit and other derivatives
61
\u2014
(4)
126
\u2014
(6)
Total derivatives held for trading
29,218
348
(319)
22,105
425
(461)
Derivatives held for hedging
Interest rate swaps \u2013 OTC
\u2014
\u2014
\u2014
183
5
\u2014
Interest rate swaps \u2013 OTC CCPs
52,492
909
(339)
29,783
1,050
(363)
Total derivatives designated as fair value hedges
52,492
909
(339)
29,966
1,055
(363)
Interest rate swaps \u2013 OTC
58
\u2014
(1)
222
\u2014
(5)
Interest rate swaps \u2013 OTC CCPs
34,629
332
(745)
41,110
664
(915)
Cross currency interest rate swaps - OTC
635
39
\u2014
640
\u2014
(39)
Total derivatives designated as cash flow hedges
35,322
371
(746)
41,972
664
(959)
Forward exchange contracts \u2013 OTC
1,399
13
(4)
1,439
\u2014
(24)
Total derivatives designated as net investment hedges
1,399
13
(4)
1,439
\u2014
(24)
Total derivatives held for hedging
89,213
1,293
(1,089)
73,377
1,719
(1,346)
Total derivative financial instruments
118,431
1,641
(1,408)
95,482
2,144
(1,807)
15\u00a0 Derivative financial instruments continued
Nominal values and average interest rates by residual maturity
At 31 December 2025 and 2024, the Group held the following hedging instruments of interest rate risk and foreign exchange rate risk in fair value, cash
flow and net investment hedges respectively. The Group has disclosed, by risk category, the profile of the timing of the nominal amount of the hedging
instruments in line with the requirements of IFRS 7. In 2024 additional voluntary disclosures were provided for the cash flows by hedged item. The\u00a0 2024
comparatives have been re-presented to align with the disclosure in 2025.
2025
Up to 1 year
1 to 2 years
2 to 5 years
5 years +
Total
Fair value hedges \u2013 Interest rate risk
Assets
Interest rate swaps \u2013 nominal principal amount (\u20ac m)
1,600
1,844
5,726
9,297
18,467
Average interest rate (%)1
0.77
0.90
1.21
2.29
1.69
Liabilities
Interest rate swaps \u2013 nominal principal amount (\u20ac m)
2,283
4,097
10,121
17,524
34,025
Average interest rate (%)1
1.84
2.41
3.56
2.69
2.86
Total nominal amount of fair value hedges \u2013 Interest rate risk
3,883
5,941
15,847
26,821
52,492
Cash flow hedges \u2013 Interest rate risk
Assets
Interest rate and cross currency swaps \u2013 nominal principal amount (\u20ac m)
7,659
3,161
8,444
14,159
33,423
Average interest rate (%)2
3.27
2.72
1.33
2.67
2.47
Liabilities
Interest rate and cross currency swaps \u2013 nominal principal amount (\u20ac m)
405
239
1,003
252
1,899
Average interest rate (%)2
2.48
2.87
2.93
2.55
2.78
Total nominal amount of cash flow hedges \u2013 Interest rate risk
8,064
3,400
9,447
14,411
35,322
Net investment hedges \u2013 Forward exchange risk
Nominal principal amount (\u20ac m)
1,399
\u2014
\u2014
\u2014
1,399
Forward FX rate (%)3
0.87
\u2014
\u2014
\u2014
0.87
2024
Up to 1 year
1 to 2 years
2 to 5 years
5 years +
Total
Fair value hedges \u2013 Interest rate risk
Assets
Interest rate swaps \u2013 nominal principal amount (\u20ac m)
785
1,617
5,949
7,818
16,169
Average interest rate (%)1
0.94
0.77
1.02
1.86
1.39
Liabilities
Interest rate swaps \u2013 nominal principal amount (\u20ac m)
1,972
1,750
6,083
3,992
13,797
Average interest rate (%)1
4.73
1.86
3.82
4.18
3.80
Total nominal amount of fair value hedges \u2013 Interest rate risk
2,757
3,367
12,032
11,810
29,966
Cash flow hedges \u2013 Interest rate risk
Assets
Interest rate and cross currency swaps \u2013 nominal principal amount (\u20ac m)
4,430
10,627
7,182
17,526
39,765
Average interest rate (%)2
3.06
3.27
1.78
2.34
2.57
Liabilities
Interest rate and cross currency swaps \u2013 nominal principal amount (\u20ac m)
213
459
962
573
2,207
Average interest rate (%)2
2.29
2.39
2.61
2.76
2.57
Total nominal amount of cash flow hedges \u2013 Interest rate risk
4,643
11,086
8,144
18,099
41,972
Net investment hedges \u2013 Forward exchange risk
Nominal principal amount (\u20ac m)
1,231
208
\u2014
\u2014
1,439
Forward FX rate (%)3
0.85
0.87
\u2014
\u2014
0.85
1. Represents the fixed rate on the hedged item which is being swapped for a variable rate.
2. This is the average interest rate on the fixed leg of swap agreements where the variable rate on the assets and liabilities in cash flow hedges is being swapped for a\u00a0fixed rate. Pay fixed cash flow hedges
are used to hedge the cash flows on variable rate liabilities and receive fixed cash flow hedges are used to\u00a0hedge the cash flows on variable rate assets.
3. Being the forward FX rates on the hedging derivatives which are being used to hedge the Group\u2019s net investment in foreign operations.
15\u00a0 Derivative financial instruments continued
Fair value hedges of interest rate risk
The tables below set out the amounts relating to items designated as (a) hedging instruments and (b) hedged items in fair value hedges of interest rate
risk together with the related hedge ineffectiveness at 31 December 2025 and 2024. The Group has disclosed, by risk category, tabular information in
relation to the hedging instrument for fair value hedges in line with the requirements of IFRS 7. In 2024 additional voluntary disclosures were provided in
relation to hedged items. The 2024 comparatives have been re-presented to align with the disclosure in 2025.
2025
Nominal
amount of
hedging
instrument
Carrying amount of
hedging instrument
Change in fair
value used for
calculating
hedge
ineffectiveness
for the year
Hedge
ineffectiveness
recognised in the
income
statement
Assets
Liabilities
Hedging instrument
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Interest rate swaps
52,492
909
(339)
(96)
(9)
2025
Line item in Statement of Financial Position where hedged
item is included
Carrying amount
of hedged item
recognised in
Statement of Financial
Position
Accumulated amount of\u00a0fair
value hedge adjustments on
the hedged item included in
the carrying amount of the
hedged item or presented
separately on the face of the
Statement of Financial
Position
Change in fair
value of hedged
item used for
calculating
hedge
ineffectiveness
for the year
Remaining
adjustments
for
discontinued
hedges
Assets
Liabilities
Assets
Liabilities
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Investment securities
17,871
\u2014
\u2014
(643)
(93)
\u2014
Debt securities in issue
\u2014
(7,197)
\u2014
(37)
(57)
\u2014
Tier 2 subordinated liabilities and other capital instruments
\u2014
(2,625)
25
\u2014
\u2014
\u2014
Deposits and advances from customers
\u2014
(24,209)
175
\u2014
239
\u2014
Loans and advances to customers
15
\u2014
\u2014
(1)
(2)
\u2014
17,886
(34,031)
200
(681)
87
\u2014
2024
Nominal
amount of
hedging
instrument
Carrying amount of
hedging instrument
Change in fair
value used for
calculating
hedge
ineffectiveness for
the year
Hedge
ineffectiveness
recognised in
the income
statement
Assets
Liabilities
Hedging instrument
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Interest rate swaps
29,966
1,055
(363)
(177)
\u2014
2024
Line item in Statement of Financial Position where hedged item
is\u00a0included
Carrying amount
of\u00a0hedged\u00a0item
recognised\u00a0in Statement
of Financial\u00a0Position
Accumulated amount of fair
value hedge adjustments on the
hedged\u00a0item included in
the\u00a0carrying amount of the
hedged item or presented
separately on the face of the
Statement of Financial Position
Change in fair
value of hedged
item used for
calculating\u00a0
hedge
ineffectiveness for
the year
Remaining
adjustments for
discontinued
hedges
Assets
Liabilities
Assets
Liabilities
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Investment securities
15,172
\u2014
\u2014
(555)
373
\u2014
Debt securities in issue
\u2014
(7,900)
18
\u2014
(69)
\u2014
Tier 2 subordinated liabilities and other capital instruments
\u2014
(1,625)
25
\u2014
(63)
\u2014
Deposits and advances from customers
\u2014
(4,225)
\u2014
(64)
(64)
\u2014
Loans and advances to customers
15
\u2014
1
\u2014
\u2014
\u2014
15,187
(13,750)
44
(619)
177
\u2014
15\u00a0 Derivative financial instruments continued
Cash flow hedges of interest rate risk
The tables below set out the amounts relating to (a) items designated as hedging instruments and (b) the hedged items in cash flow hedges of interest
rate risk together with the related hedge ineffectiveness at 31 December 2025 and 2024. The Group has disclosed, by risk category, tabular information
in relation to the hedging instrument for cash flow hedges in line with the requirements of IFRS 7. In 2024 additional voluntary disclosures were provided
in relation to hedged items. The 2024 comparatives have been re-presented to align with the disclosure in 2025.
2025
Carrying amount of the
hedging instrument
Nominal
amount of
the
hedging
instrument
Assets
Liabilities
Change in fair
value of hedging
instrument used
for calculating
hedge
ineffectiveness
in the year
Change in fair
value of
hedging
instrument
recognised in
OCI in the year
Hedge
Ineffectiveness
recognised in
the income
statement
Amounts
reclassified
from the cash
flow hedge
reserve to the
income
statement
Hedging instrument
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Interest rate and cross currency swaps
35,322
371
(746)
(179)
(178)
(1)
(56)
1
2025
Line item in Statement of Financial
Position in which hedged item is included
Change in fair
value of hedged
item used for
calculating hedge
ineffectiveness
for the year
Amounts in the
cash flow
hedging reserves
for continuing
hedges
pre tax
Amounts in the
cash flow hedging
reserves for
continuing hedges
post tax
Amounts remaining
in the cash flow hedging
reserves from any
hedging relationship for
which hedge accounting
is no longer applied
pre tax
Amounts remaining
in the cash flow hedging
reserves from any
hedging relationship for
which hedge accounting
is no longer applied
post tax
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Loans and advances to customers
149
(437)
(351)
12
10
Deposits and advances from customers
29
23
20
\u2014
\u2014
2024
Carrying amount of the
hedging instrument
Hedging instrument
Nominal
amount of the
hedging
instrument
Assets
Liabilities
Change in fair
value of hedging
instrument used
for calculating
hedge
ineffectiveness
in the year
Change in fair
value of the
hedging
instrument
recognised in
OCI
in the year
Hedge
Ineffectiveness
recognised in
the income
statement
Amounts
reclassified
from the cash
flow hedge
reserve to the
income
statement
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Interest rate and cross currency swaps
41,972
664
(959)
167
173
(6)
(569)
1
2024
Line item in Statement of Financial Position in
which hedged item is included
Change in fair
value of hedged
item used for
calculating hedge
ineffectiveness
for the year
Amounts
in the cash
flow hedging
reserves for
continuing hedges
pre tax
Amounts
in the cash
flow hedging
reserves for
continuing
hedges
post tax
Amounts remaining
in the cash flow hedging
reserves from any
hedging relationship for
which hedge accounting
is no longer applied
pre tax
Amounts remaining
in the cash flow hedging
reserves from any
hedging relationship for
which hedge accounting is
no longer applied
post tax
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Loans and advances to customers
(173)
(264)
(189)
25
22
Deposits and advances from customers
\u2014
52
46
\u2014
\u2014
1. Included in the income statement as follows: debit of \u20ac82m (2024: debit of \u20ac618m) in interest and similar income, credit of \u20ac25m (2024: credit of \u20ac49m) in interest and similar expense, and a credit of
\u20ac1m (2024: Nil) in other income/(expense) transferred from other comprehensive income in respect of cash flow hedges.
Forecast cash flows
The table below sets out the hedged cash flows, including the amortisation of terminated cash flow hedges, which are expected to occur and impact the
income statement in the following periods:
2025
2024
<1 year
1-2 years
2-5 years
>5 years
Total
<1 year
1-2 years
2-5 years
>5 years
Total
Cash flows
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Forecast receivable cash flows
743
570
1,681
1,011
4,005
991
696
1,545
1,016
4,248
Forecast payable cash flows
51
36
57
8
152
77
53
93
29
252
Forecast payable cash flows (including amortisation of
terminated cash flow hedges)
59
35
58
12
164
87
60
91
35
273
15\u00a0 Derivative financial instruments continued
Hedges of net investment in foreign operations
The tables below set out the amounts relating to (a) items designated as hedging instruments and (b) the hedged items in hedges of the net investment
in foreign operations together with the related hedge ineffectiveness at 31 December 2025 and 2024. The Group has disclosed, by risk category, tabular
information in relation to the hedging instrument for hedges of net investment in foreign operations in line with the requirements of IFRS 7. In 2024
additional voluntary disclosures were provided in relation to hedged items. The 2024 comparatives have been re-presented to align with the disclosure
in 2025.
2025
Carrying amount of the
hedging instrument
Hedging Instrument
Nominal
amount of
hedging
instrument
Assets
Liabilities
Change in fair
value of hedging
instrument used
for calculating
hedge
ineffectiveness
in the year
Change in fair
value of hedging
instrument
recognised in
OCI in the year
Hedge
Ineffectiveness
recognised in the
income
statement1
Amounts that have
been transferred
because the
hedged item has
affected the
income statement
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Foreign exchange contracts
1,399
13
(4)
69
69
\u2014
\u2014
1
2025
Line item in
Statement of Financial
Position in which hedged
item is included
Change in fair
value of hedged
item used for
calculating hedge
ineffectiveness
for the year
Amount in the
foreign currency
translation reserves for
continuing hedges
pre tax
Amounts in the foreign
currency translation
reserves for
continuing hedges
post tax
Amounts remaining
in the foreign currency
translation reserves
from any hedging
relationship for which
hedge accounting is no
longer applied
pre tax
Amounts remaining
in the foreign currency
translation reserves from
any hedging relationship for
which hedge
accounting is no
longer applied
post tax
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Reserves2
(69)
(39)
(34)
(8)
(7)
2024
Carrying amount of the hedging
instrument
Hedging Instrument
Nominal
amount of
hedging
instrument
Assets
Liabilities
Change in fair
value of hedging
instrument used
for calculating
hedge
ineffectiveness
in the year
Change in fair
value of
hedging
instruments
recognised in OCI
in the year
Hedge
Ineffectiveness
recognised in
the\u00a0income
statement1
Amounts that have
been transferred
because the
hedged item has
affected the
income statement
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Foreign exchange contracts
1,439
\u2014
(24)
(66)
(66)
\u2014
\u2014
1
2024
Line item in
Statement of Financial
Position in which hedged
item is included
Change in fair value
of hedged item used
for calculating hedge
ineffectiveness
for the year
Amount in the foreign
currency translation
reserves for continuing
hedges
pre tax
Amounts in the foreign
currency translation
reserves for continuing
hedges
post tax
Amounts remaining
in the foreign currency
translation reserves from
any hedging relationship
for which hedge
accounting is
no longer applied
pre tax
Amounts remaining in the
foreign currency
translation reserves from any
hedging relationship for which
hedge accounting is no longer
applied
post tax
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Reserves2
66
(108)
(94)
(8)
(7)
1. Included in other (expense)/income in the income statement.
2. Relates to the net investment in AIB Group (UK) p.l.c.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-624": { "value": "
16\u00a0 Loans and advances to banks
2025
2024
\u20ac m
\u20ac m
At amortised cost
Funds placed with central banks
229
241
Funds placed with other banks1
325
400
Loans to central banks and banks1
554
641
Cash collateral advanced to other banks1,2
47
680
Loans and advances to central banks and banks1
601
1,321
ECL
\u2014
\u2014
Total loans and advances to banks1
601
1,321
of which comprises restricted balances held in respect of certain payables3
7
6
of which comprises reserve balances maintained with the Bank of England as required by law
229
241
1. Refer to note 1 (c) for further information about the change in presentation to the financial statements.
2. Relates to cash collateral payable to derivative and repurchase agreement counterparties.
3. Included in other liabilities in the Consolidated Statement of Financial Position are customer funds held for Payzone\u2019s parking solution.
Loans and advances to banks by geographical area1
2025
2024
\u20ac m
\u20ac m
Ireland
276
989
United Kingdom
311
317
United States of America
14
15
Total loans and advances to banks by geographical area
601
1,321
1. The classification of loans and advances to banks by geographical area is based primarily on the location of the office recording the transaction.", "dimensions": { "concept": "ifrs-full:DisclosureOfLoansAndAdvancesToBanksExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-625": { "value": "
2025
2024
\u20ac m
\u20ac m
At amortised cost
Funds placed with central banks
229
241
Funds placed with other banks1
325
400
Loans to central banks and banks1
554
641
Cash collateral advanced to other banks1,2
47
680
Loans and advances to central banks and banks1
601
1,321
ECL
\u2014
\u2014
Total loans and advances to banks1
601
1,321
of which comprises restricted balances held in respect of certain payables3
7
6
of which comprises reserve balances maintained with the Bank of England as required by law
229
241
1. Refer to note 1 (c) for further information about the change in presentation to the financial statements.
2. Relates to cash collateral payable to derivative and repurchase agreement counterparties.
3. Included in other liabilities in the Consolidated Statement of Financial Position are customer funds held for Payzone\u2019s parking solution.
Loans and advances to banks by geographical area1
2025
2024
\u20ac m
\u20ac m
Ireland
276
989
United Kingdom
311
317
United States of America
14
15
Total loans and advances to banks by geographical area
601
1,321
1. The classification of loans and advances to banks by geographical area is based primarily on the location of the office recording the transaction.
2025
2024
\u20ac m
\u20ac m
At amortised cost
Loans to customers1
70,277
69,403
Amounts receivable under finance leases and hire purchase contracts
1,891
1,716
Gross loans to customers1
72,168
71,119
Cash collateral advanced to customers1,2
91
50
Gross loans and advances to customers1
72,259
71,169
ECL allowance
(1,143)
(1,344)
Net loans and advances to customers1
71,116
69,825
Mandatorily at fair value through profit or loss
Loans and advances to customers
84
64
Total loans and advances to customers
71,200
69,889
of which comprises amounts repayable on demand
1,814
2,319
of which comprises amounts due from equity accounted investments3
56
66
1. Refer to note 1 (c) for further information about the change in presentation to the financial statements.
2. Relates to cash collateral placed with derivative counterparties.
3. Undrawn commitments amount to \u20ac16m and are less than one year (31 December 2024: \u20ac208m).
For details of credit quality of loans and advances to customers, including forbearance, refer to the sections denoted as \u2018audited\u2019 in 2.1.2 to 2.1.6 of the
Risk\u00a0Management report.
18\u00a0 Securities financing
2025
2024
Banks
Customers
Total
Banks
Customers
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Assets
Reverse repurchase agreements
4,185
267
4,452
3,380
175
3,555
Securities borrowing transactions
1,374
1,513
2,887
1,848
1,240
3,088
Total1
5,559
1,780
7,339
5,228
1,415
6,643
Liabilities
Securities sold under agreements to repurchase
682
\u2014
682
191
5
196
Total
682
\u2014
682
191
5
196
1. Classified as ECL Stage 1 and have a Nil ECL at 31 December 2025 (31 December 2024: \u20ac1m).
In accordance with the terms of the reverse repurchase agreements and securities borrowing agreements, the Group accepts collateral that it is
permitted to sell or repledge in the absence of default by the owner of the collateral. At 31 December 2025, the total fair value of the collateral received
was \u20ac7,339 million (2024: \u20ac6,643 million), none of which had been resold or repledged. These transactions were conducted under terms that are usual
and customary to standard reverse repurchase agreements and securities borrowing agreements.
Securities sold under agreements to repurchase mature within six months and are secured by debt securities and eligible assets. At 31 December 2025, in
relation to securities sold under agreements to repurchase, the Group had pledged collateral with a fair value\u00a0of \u20ac682 million (2024: \u20ac196 million). These
transactions were conducted under terms that are usual and customary to standard securities sold under repurchase\u00a0transactions.
20\u00a0 Investment securities
The following table analyses the carrying value of investment securities at 31 December 2025 and 2024 .
2025
2024
\u20ac m
\u20ac m
Debt securities at FVOCI
Government securities
4,156
3,013
Supranational banks and government agencies securities
4,421
3,132
Asset backed securities
107
153
Bank securities
6,584
6,532
Corporate securities
933
738
Total debt securities at FVOCI1
16,201
13,568
of which provided as collateral
2,392
1,963
Debt securities at amortised cost
Government securities
2,206
2,226
Supranational banks and government agencies securities
241
237
Asset backed securities
2,329
2,113
Bank securities
80
79
Corporate securities
187
148
Total debt securities at amortised cost
5,043
4,803
of which provided as collateral
1,234
859
Total debt securities
21,244
18,371
of which provided as collateral
3,626
2,822
Equity securities
Equity securities at FVTPL
304
297
Total equity securities
304
297
Total investment securities
21,548
18,668
The following table analyses the carrying amount of debt securities by ECL stage:
2025
2024
\u20ac m
\u20ac m
Gross amount
Stage 1
21,245
18,372
Stage 2
\u2014
\u2014
Total debt securities
21,245
18,372
ECL on debt securities at amortised cost
(1)
(1)
Carrying value
21,244
18,371
1. The ECL of \u20ac5m (2024: \u20ac2m) on debt securities at FVOCI does not reduce the carrying amount, but an amount equal to the allowance is recognised in OCI as an accumulated impairment amount, with
corresponding impairment gains or losses recognised in the income statement.
27\u00a0 Deposits and advances from banks
2025
2024
\u20ac m
\u20ac m
Central bank \u2013 secured
\u2014
6
Other bank \u2013 unsecured1
21
27
Deposits by central banks and banks1
21
33
Cash collateral advanced by other banks1,2
135
803
Total deposits and advances from banks1
156
836
1. Refer to note 1 (c) for further information about the change in presentation to the financial statements.
2. Relates to cash collateral received from derivative and repurchase agreement counterparties.
Financial assets pledged for secured borrowings
Financial assets pledged for secured borrowings and providing access to future funding facilities with central banks and banks are detailed in the
following table.
2025
2024
Central
banks
Banks
Total
Central
banks
Banks
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Government securities
10
\u2014
10
9
\u2014
9
Other securities1
460
\u2014
460
78
\u2014
78
Total carrying value of financial assets pledged
470
\u2014
470
87
\u2014
87
1. Securities pledged as collateral include third party securities held by the Group and covered bonds secured on pools of residential mortgages that have been issued by and are held by the Group.
28\u00a0 Deposits and advances from customers
2025
2024
\u20ac m
\u20ac m
Current accounts
64,871
62,657
Demand deposits
32,392
31,126
Time deposits1
19,976
16,033
Customer deposits1
117,239
109,816
Cash collateral advanced from customers1,2
432
67
Total deposits and advances from customers1
117,671
109,883
Deposits and advances from customers are analysed as follows:
Non-interest bearing current accounts
60,950
58,454
Interest bearing deposits, current accounts and short term borrowings
56,721
51,429
Total deposits and advances from customers1
117,671
109,883
of which comprises amounts due to equity accounted investments
19
320
1. Refer to note 1 (c) for further information about the change in presentation to the financial statements.
2. Relates to cash collateral received from derivative and repurchase agreement counterparties.
At 31 December 2025, the Group\u2019s five largest customer deposits amounted to 1% (2024: 1%) of total deposits and advances from customers.
37\u00a0 Offsetting financial assets and financial liabilities
The disclosures set out in the following tables include financial assets and financial liabilities that:
\u2022 Are offset in the Group\u2019s statement of financial position; or
\u2022 Are subject to enforceable master netting arrangements or similar agreements that cover similar financial instruments, irrespective of whether they
are offset in the statement of financial position.
The similar agreements include derivative clearing agreements, global master repurchase agreements and global master securities lending\u00a0 agreements.
Similar financial instruments include derivatives, sales and repurchase agreements, reverse sale and repurchase agreements, and\u00a0securities borrowing
and lending agreements. Financial instruments such as loans and advances and deposits and advances from customers are not included in\u00a0the
following tables unless they are offset in the statement of financial position.
The Group has a number of ISDA Master Agreements (netting agreements) in place which allow it to net the termination values of derivative\u00a0 contracts
upon the occurrence of an event of default with respect to its counterparties. Additionally, the Group has agreements in place which may allow it to net
the termination values of cross currency swaps upon the occurrence of an event of default. The enforcement of netting agreements would
potentially\u00a0reduce the statement of financial position carrying amount of derivative assets and liabilities by \u20ac1,173 million at 31 December 2025\u00a0 (2024:
\u20ac1,385 million).
The Group\u2019s sale and repurchase and reverse sale-and-repurchase transactions and securities borrowing and lending are covered by netting\u00a0
agreements with terms similar to those of ISDA Master Agreements. The ISDA Master Agreements and similar master netting arrangements do not meet
the criteria for offsetting in the statement of financial position where a right of set-off of recognised amounts becomes enforceable only following an
event of default, insolvency or bankruptcy of the\u00a0 Group or the counterparties. Offsetting in the statement of financial position is applied where the
Group has a legally enforceable right to set-off the recognised amounts and intends either to settle on a net basis, or to realise the asset and settle the
liability simultaneously.
The Group provides and accepts collateral in the form of cash and marketable securities in respect of the following transactions:
\u2022 Derivatives;
\u2022 Sale and repurchase agreements;
\u2022 Reverse sale and repurchase agreements; and
\u2022 Securities lending and borrowing.
Collateral is subject to the standard industry terms of Credit Support Annexes (CSAs), which enable the Group to pledge or sell securities received
during the term of the transaction. The collateral must be returned on the maturity of the transaction. The terms also give each counterparty the right to
terminate the related transactions where the counterparty fails to post collateral. The CSAs in place provide financial collateral for derivative contracts,
which refers to cash and non-cash collateral obtained. At 31 December 2025, \u20ac111 million (2024: \u20ac698 million) of cash collateral is included within
financial assets and \u20ac497 million (2024: \u20ac814 million) of cash collateral is included within financial liabilities relating to CSAs.
The following table shows financial assets and financial liabilities subject to offsetting, enforceable master netting arrangements and similar
agreements and those amounts not subject to offsetting at 31 December 2025 and 2024. The effects of over-collateralisation have not been taken into
account in the following table.
37\u00a0 Offsetting financial assets and financial liabilities continued
Amounts subject to enforceable netting arrangements
2025
Gross
amounts of
recognised
financial
assets
Gross
amounts of
recognised
financial
liabilities
offset in the
statement
of financial
position
Net
amounts of
financial
assets
presented
in the
statement
of financial
position
Related amounts not
offset in the statement
of financial position
Amounts not
subject to
enforceable
netting
arrangements
Total
amount of
financial
assets
presented
in the
statement
of financial
position
Financial
instruments
Financial
collateral1
Net
amount
Financial assets
Note
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Derivative financial instruments
15
1,634
\u2014
1,634
(1,173)
(406)
55
7
1,641
Securities financing
Reverse repurchase agreements
18
6,024
(1,572)
4,452
(4,407)
(45)
\u2014
\u2014
4,452
Securities borrowings
18
2,887
\u2014
2,887
(2,887)
\u2014
\u2014
\u2014
2,887
Total
10,545
(1,572)
8,973
(8,467)
(451)
55
7
8,980
Amounts subject to enforceable netting arrangements
2025
Gross
amounts of
recognised
financial
liabilities
Gross
amounts of
recognised
financial
assets offset
in the
statement
of financial
position
Net
amounts of
financial
liabilities
presented
in the
statement
of financial
position
Related amounts not
offset in the statement of
financial position
Amounts not
subject to
enforceable
netting
arrangements
Total
amount of
financial
liabilities
presented
in the
statement
of financial
position
Financial
instruments
Financial
collateral1
Net
amount
Financial liabilities
Note
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Derivative financial instruments
15
1,397
\u2014
1,397
(1,173)
(224)
\u2014
11
1,408
Securities financing
Securities sold under
agreements to repurchase
18
2,254
(1,572)
682
(674)
(8)
\u2014
\u2014
682
Total
3,651
(1,572)
2,079
(1,847)
(232)
\u2014
11
2,090
Amounts subject to enforceable netting arrangements
2024
Gross
amounts of
recognised
financial
assets
Gross
amounts of
recognised
financial
liabilities
offset in the
statement
of financial
position
Net
amounts of
financial
assets
presented
in the
statement of
financial
position
Related amounts not offset\u00a0in
the statement of financial
position
Amounts not
subject to
enforceable
netting
arrangements
Total
amount of
financial
assets
presented
in the
statement
of financial
position
Financial
instruments
Financial
collateral1
Net
amount
Financial assets
Note
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Derivative financial instruments
15
2,134
\u2014
2,134
(1,385)
(251)
498
10
2,144
Securities financing
Reverse repurchase agreements
18
5,215
(1,660)
3,555
(3,538)
(17)
\u2014
\u2014
3,555
Securities borrowings
18
3,088
\u2014
3,088
(3,088)
\u2014
\u2014
\u2014
3,088
Total
10,437
(1,660)
8,777
(8,011)
(268)
498
10
8,787
Amounts subject to enforceable netting arrangements
2024
Gross
amounts of
recognised
financial
liabilities
Gross
amounts of
recognised
financial
assets
offset in the
statement
of financial
position
Net
amounts of
financial
liabilities
presented
in the
statement of
financial
position
Related amounts not offset\u00a0in
the statement of financial
position
Amounts not
subject to
enforceable
netting
arrangements
Total
amount of
financial
liabilities
presented
in the
statement
of financial
position
Financial
instruments
Financial
collateral 1
Net
amount
Financial liabilities
Note
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Derivative financial instruments
15
1,779
\u2014
1,779
(1,385)
(135)
259
28
1,807
Securities financing
Securities sold under
agreements to repurchase
18
1,856
(1,660)
196
(187)
(9)
\u2014
\u2014
196
Total
3,635
(1,660)
1,975
(1,572)
(144)
259
28
2,003
1. Financial collateral of \u20ac406m (2024: \u20ac251m) was received in respect of derivative assets, all of which was cash collateral. Financial collateral of \u20ac224m (2024: \u20ac135m) was placed in respect of
derivative liabilities, including \u20ac20m (2024: \u20ac135m) of cash collateral and \u20ac204m (2024: Nil) of non-cash collateral.
38\u00a0 Contingent liabilities and commitments
The following table gives the nominal or contract amounts of contingent liabilities and commitments:
Contract amount
2025
2024
\u20ac m
\u20ac m
Contingent liabilities1 \u2013 credit related
Guarantees and assets pledged as collateral security:
Guarantees and irrevocable letters of credit
1,182
952
Other contingent liabilities
24
24
1,206
976
Commitments2
Documentary credits and short term trade-related transactions
167
276
Undrawn formal standby facilities, credit lines and other commitments to lend:
Less than 1 year
10,474
10,443
1 year and over
6,392
6,104
17,033
16,823
Total contingent liabilities and commitments
18,239
17,799
1. Contingent liabilities are off-balance sheet products and include guarantees, irrevocable letters of credit and other contingent liability products.
2. A commitment is an off-balance sheet product where there is an agreement to provide an undrawn credit facility.
For details of the geographic concentration of contingent liabilities and commitments and internal credit ratings, see pages 199 and 208 in the Risk
Management section of this report. Provisions for ECLs on loan commitments and financial guarantee contracts are set out in note 33.
Legal proceedings
The\u2008Group, in the course of its business, is frequently involved in litigation cases. However, it is not, nor has been, involved in, nor are there, so far as the
Group is aware, pending or threatened by or against the Group, any legal or arbitration proceedings, including governmental proceedings, which may
have, or have had during the previous twelve months, a material effect on the financial position, profitability or cash flows of the\u2008Group.
TARGET-Ireland \u2013 Gross Settlement System
TARGET-Ireland is a real-time gross settlement system for large volume interbank payments in euro. As part of its participation in TARGET-Ireland, on 16
March 2023 Allied Irish Banks, p.l.c. (AIB) granted a first floating charge in favour of the Central Bank of Ireland (CBI), giving over all present and future
credit balances in AIB\u2019s TARGET-Ireland accounts, securing AIB\u2019s liabilities to the CBI. AIB also has access to intra\u2011day credit in TARGET2-Ireland (now
TARGET-Ireland) in relation to Eurosystem Operations. To support this, on 7 April 2014, AIB granted the CBI a fixed charge over eligible assets held in a
designated collateral account, and a floating charge over other eligible assets.
Without the CBI\u2019s prior written consent, AIB may not create encumbrances over, or dispose of, the charged assets other than in the ordinary course of
business. Financial assets pledged under the first fixed charge are disclosed in note 27.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCollateralExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-626": { "value": "
17\u00a0 Loans and advances to customers
2025
2024
\u20ac m
\u20ac m
At amortised cost
Loans to customers1
70,277
69,403
Amounts receivable under finance leases and hire purchase contracts
1,891
1,716
Gross loans to customers1
72,168
71,119
Cash collateral advanced to customers1,2
91
50
Gross loans and advances to customers1
72,259
71,169
ECL allowance
(1,143)
(1,344)
Net loans and advances to customers1
71,116
69,825
Mandatorily at fair value through profit or loss
Loans and advances to customers
84
64
Total loans and advances to customers
71,200
69,889
of which comprises amounts repayable on demand
1,814
2,319
of which comprises amounts due from equity accounted investments3
56
66
1. Refer to note 1 (c) for further information about the change in presentation to the financial statements.
2. Relates to cash collateral placed with derivative counterparties.
3. Undrawn commitments amount to \u20ac16m and are less than one year (31 December 2024: \u20ac208m).
For details of credit quality of loans and advances to customers, including forbearance, refer to the sections denoted as \u2018audited\u2019 in 2.1.2 to 2.1.6 of the
Risk\u00a0Management report.
17\u00a0 Loans and advances to customers continued
Amounts receivable under finance leases and hire purchase contracts
The following balances principally comprise leasing arrangements and hire purchase agreements of vehicles, plant, machinery and equipment:
2025
2024
\u20ac m
\u20ac m
Gross receivables
Not later than 1 year
703
647
Later than 1 year and not later than 2 years
539
493
Later than 2 years and not later than 3 years
406
361
Later than 3 years and not later than 4 years
242
222
Later than 4 years and not later than 5 years
122
109
Later than 5 years
29
24
Total
2,041
1,856
Unearned future finance income
(160)
(151)
Deferred costs incurred on origination
10
11
Present value of minimum payments
1,891
1,716
ECL allowance for uncollectible minimum payments receivable1
40
39
1. Included in ECL allowance on loans and advances to customers in n ote 19.", "dimensions": { "concept": "ifrs-full:DisclosureOfLoansAndAdvancesToCustomersExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-627": { "value": "
18\u00a0 Securities financing
2025
2024
Banks
Customers
Total
Banks
Customers
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Assets
Reverse repurchase agreements
4,185
267
4,452
3,380
175
3,555
Securities borrowing transactions
1,374
1,513
2,887
1,848
1,240
3,088
Total1
5,559
1,780
7,339
5,228
1,415
6,643
Liabilities
Securities sold under agreements to repurchase
682
\u2014
682
191
5
196
Total
682
\u2014
682
191
5
196
1. Classified as ECL Stage 1 and have a Nil ECL at 31 December 2025 (31 December 2024: \u20ac1m).
In accordance with the terms of the reverse repurchase agreements and securities borrowing agreements, the Group accepts collateral that it is
permitted to sell or repledge in the absence of default by the owner of the collateral. At 31 December 2025, the total fair value of the collateral received
was \u20ac7,339 million (2024: \u20ac6,643 million), none of which had been resold or repledged. These transactions were conducted under terms that are usual
and customary to standard reverse repurchase agreements and securities borrowing agreements.
Securities sold under agreements to repurchase mature within six months and are secured by debt securities and eligible assets. At 31 December 2025, in
relation to securities sold under agreements to repurchase, the Group had pledged collateral with a fair value\u00a0of \u20ac682 million (2024: \u20ac196 million). These
transactions were conducted under terms that are usual and customary to standard securities sold under repurchase\u00a0transactions.
40\u00a0 Off-balance sheet arrangements and transferred financial assets
Securitisations
The Group utilises securitisations primarily to support the following business objectives:
\u2022 As an investor, the Group has primarily invested in securitisations issued by other credit institutions as part of the management of its interest rate and
liquidity risks and has also invested in securitisations to pursue transactions that offer appropriate risk-adjusted return opportunities.
\u2022 As an originator, to support the funding and credit risk management activities of the Group.
The Group controls certain structured entities which were set up to support its funding and credit risk management activities as well as the funding of
certain Group pension schemes. Details of these structured entities are set out in note 39.
Transfer of financial assets
The Group enters into transactions in the normal course of business in which it transfers previously recognised financial assets. Transferred financial
assets may, in accordance with IFRS 9:
(i) Continue to be recognised in their entirety; or
(ii) Be derecognised in their entirety but the Group retains some continuing involvement.
The most common transactions where the transferred assets are not derecognised in their entirety are securities sold under an agreement to
repurchase and the issuance of covered bonds.
(i) Transferred financial assets not derecognised in their entirety
Securities sold under agreements to repurchase and securities lending
The Group enters into transactions where it sells a financial asset to another party, with an obligation to repurchase it at a fixed price on a certain later
date. The Group continues to recognise the financial assets in full in the statement of financial position as it retains substantially all the risks and
rewards of ownership. The Group\u2019s sale and repurchase agreements are with banks and customers. The obligation to pay the repurchase price is
recognised within securities financing (note 18). As the Group sells the contractual rights to the cash flows of the financial assets, it does not have the
ability to use or pledge the transferred assets during the term of the sale and repurchase agreement. The Group remains exposed to credit risk and
interest rate risk on the financial assets sold. The obligation arising as a result of sale and repurchase agreements together with the carrying value of the
financial assets pledged are set out in the following table.
The Group enters into securities lending in the form of collateral swap agreements with other parties. The Group continues to recognise the financial
assets in full in the statement of financial position as it retains substantially all the risks and rewards of ownership. As a result of these transactions, the
Group is unable to use, sell or pledge the transferred assets for the duration of the transaction. A fee is generated for the Group under this transaction.
40\u00a0 Off-balance sheet arrangements and transferred financial assets continued
Issuance of covered bonds
Covered bonds, which the Group issues, are debt securities backed by cash flows from mortgages for the purpose of financing loans secured on
residential property through its wholly owned subsidiary, AIB Mortgage Bank Unlimited Company. The Group retains all the risks and rewards of these
mortgage loans, including credit risk and interest rate risk, and therefore, the loans continue to be recognised on the Group\u2019s statement of\u00a0financial
position with the related covered bonds held by external investors included within debt securities in issue (note 29). As the Group segregates the assets
which back these debt securities into 'cover asset pools' it does not have the ability to otherwise use such segregated financial assets during the term of
these debt securities. However, of the total debt securities of this type issued amounting to \u20ac12.07 billion (2024: \u20ac10.6 billion), AIB Group companies
hold \u20ac12.05 billion (2024: \u20ac10.58 billion) which are eliminated on consolidation.
The following table summarises as at 31 December 2025 and 2024, the carrying value and fair value of financial assets which did not qualify for
derecognition together with their associated financial liabilities.
2025
Carrying
amount of
transferred
assets
Carrying
amount of
associated
liabilities
Fair
value of
transferred
assets
Fair
value of
associated
liabilities
Net fair
value
position
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Securities sold under agreements to repurchase/similar products
3,672
2
682
1
3,675
682
2,993
Covered bond programmes
Residential mortgage backed
33
3
26
4
34
27
7
2024
Carrying
amount of
transferred
assets
Carrying
amount of
associated
liabilities
Fair
value of
transferred
assets
Fair
value of
associated
liabilities
Net fair
value
position
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Securities sold under agreements to repurchase/similar products
2,822
1,2
196
1
2,821
196
2,625
Covered bond programmes
Residential mortgage backed
36
3
27
4
35
28
7
1. See note 18.
2. Includes \u20ac2,995m of assets pledged in relation to securities lending arrangements (2024: \u20ac2,630m).
3. The asset pools of \u20ac16bn (2024: \u20ac15bn) in the covered bond programme have been apportioned on a pro-rata basis in relation to the value of bonds held by\u00a0external investors and those held by the
Group companies. The \u20ac33m (2024: \u20ac36m) above refers to those assets apportioned to external investors.
4. Included in bonds and other medium term notes issued by subsidiaries (note 29).
(ii) Transferred financial assets derecognised in their entirety but the Group retains some continuing involvement
The Group has no material continuing involvement in transferred financial assets where it retains any of the risks and rewards of ownership of the
transferred financial assets.", "dimensions": { "concept": "ifrs-full:DisclosureOfRepurchaseAndReverseRepurchaseAgreementsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-628": { "value": "
20\u00a0 Investment securities
The following table analyses the carrying value of investment securities at 31 December 2025 and 2024 .
2025
2024
\u20ac m
\u20ac m
Debt securities at FVOCI
Government securities
4,156
3,013
Supranational banks and government agencies securities
4,421
3,132
Asset backed securities
107
153
Bank securities
6,584
6,532
Corporate securities
933
738
Total debt securities at FVOCI1
16,201
13,568
of which provided as collateral
2,392
1,963
Debt securities at amortised cost
Government securities
2,206
2,226
Supranational banks and government agencies securities
241
237
Asset backed securities
2,329
2,113
Bank securities
80
79
Corporate securities
187
148
Total debt securities at amortised cost
5,043
4,803
of which provided as collateral
1,234
859
Total debt securities
21,244
18,371
of which provided as collateral
3,626
2,822
Equity securities
Equity securities at FVTPL
304
297
Total equity securities
304
297
Total investment securities
21,548
18,668
The following table analyses the carrying amount of debt securities by ECL stage:
2025
2024
\u20ac m
\u20ac m
Gross amount
Stage 1
21,245
18,372
Stage 2
\u2014
\u2014
Total debt securities
21,245
18,372
ECL on debt securities at amortised cost
(1)
(1)
Carrying value
21,244
18,371
1. The ECL of \u20ac5m (2024: \u20ac2m) on debt securities at FVOCI does not reduce the carrying amount, but an amount equal to the allowance is recognised in OCI as an accumulated impairment amount, with
corresponding impairment gains or losses recognised in the income statement.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-631": { "value": "
21\u00a0 Investments accounted for using the equity method
2025
2024
Associates
Joint
venture
Total
Associates
Joint
venture
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Share of net assets including goodwill
At 1 January
243
105
348
208
102
310
Investment during the year
27
7
34
27
10
37
Disposal during the year1
(203)
\u2014
(203)
\u2014
\u2014
\u2014
Dividends received
\u2014
\u2014
\u2014
(25)
\u2014
(25)
Share of results of equity accounted investments (after tax)
22
(5)
17
33
(7)
26
At 31 December
89
107
196
243
105
348
Amounts recognised in the income statement
Profit on disposal of associate1
157
\u2014
157
\u2014
\u2014
\u2014
Share of results of equity accounted investments (after tax)2
22
(5)
17
33
(7)
26
Income from equity accounted investments
179
(5)
174
33
(7)
26
1. In 2025, the Group disposed of its 49.9% shareholding in its principal associate, AIB Merchant Services.
2. Share of results of equity accounted investments includes \u20ac22m (2024: \u20ac34m) relating to AIB Merchant Services up to the date of disposal.
Details of the Group\u2019s associates and joint venture
Investments in associates at 31 December 2025 comprise the Group\u2019s investment in Vianova DAC (formerly Clearpay DAC), First Homes Scheme DAC
and Autolease Fleet Management Ltd. The investment in joint venture comprises the Group\u2019s investment in AIB life, being the Group\u2019s joint venture with
Great-West Lifeco\u00a0Inc. None of the investments are considered individually material to the Group.\u00a0
Transactions with the Group\u2019s associates and joint venture
Banking transactions between the Group and its associates and joint venture are entered into in the normal course of business. For further information
see notes 17 and 28. There was no unrecognised share of losses of associates or joint ventures at 31 December 2025 or 2024.
Significant restrictions
There is no significant restriction on the ability of the associates or joint ventures to transfer funds to the Group in the form of cash or dividends, or to
repay loans or advances made by the Group.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-630": { "value": "
21\u00a0 Investments accounted for using the equity method
2025
2024
Associates
Joint
venture
Total
Associates
Joint
venture
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Share of net assets including goodwill
At 1 January
243
105
348
208
102
310
Investment during the year
27
7
34
27
10
37
Disposal during the year1
(203)
\u2014
(203)
\u2014
\u2014
\u2014
Dividends received
\u2014
\u2014
\u2014
(25)
\u2014
(25)
Share of results of equity accounted investments (after tax)
22
(5)
17
33
(7)
26
At 31 December
89
107
196
243
105
348
Amounts recognised in the income statement
Profit on disposal of associate1
157
\u2014
157
\u2014
\u2014
\u2014
Share of results of equity accounted investments (after tax)2
22
(5)
17
33
(7)
26
Income from equity accounted investments
179
(5)
174
33
(7)
26
1. In 2025, the Group disposed of its 49.9% shareholding in its principal associate, AIB Merchant Services.
2. Share of results of equity accounted investments includes \u20ac22m (2024: \u20ac34m) relating to AIB Merchant Services up to the date of disposal.
Details of the Group\u2019s associates and joint venture
Investments in associates at 31 December 2025 comprise the Group\u2019s investment in Vianova DAC (formerly Clearpay DAC), First Homes Scheme DAC
and Autolease Fleet Management Ltd. The investment in joint venture comprises the Group\u2019s investment in AIB life, being the Group\u2019s joint venture with
Great-West Lifeco\u00a0Inc. None of the investments are considered individually material to the Group.\u00a0
Transactions with the Group\u2019s associates and joint venture
Banking transactions between the Group and its associates and joint venture are entered into in the normal course of business. For further information
see notes 17 and 28. There was no unrecognised share of losses of associates or joint ventures at 31 December 2025 or 2024.
Significant restrictions
There is no significant restriction on the ability of the associates or joint ventures to transfer funds to the Group in the form of cash or dividends, or to
repay loans or advances made by the Group.
", "dimensions": { "concept": "ifrs-full:DisclosureOfJointVenturesExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-629": { "value": "
21\u00a0 Investments accounted for using the equity method
2025
2024
Associates
Joint
venture
Total
Associates
Joint
venture
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Share of net assets including goodwill
At 1 January
243
105
348
208
102
310
Investment during the year
27
7
34
27
10
37
Disposal during the year1
(203)
\u2014
(203)
\u2014
\u2014
\u2014
Dividends received
\u2014
\u2014
\u2014
(25)
\u2014
(25)
Share of results of equity accounted investments (after tax)
22
(5)
17
33
(7)
26
At 31 December
89
107
196
243
105
348
Amounts recognised in the income statement
Profit on disposal of associate1
157
\u2014
157
\u2014
\u2014
\u2014
Share of results of equity accounted investments (after tax)2
22
(5)
17
33
(7)
26
Income from equity accounted investments
179
(5)
174
33
(7)
26
1. In 2025, the Group disposed of its 49.9% shareholding in its principal associate, AIB Merchant Services.
2. Share of results of equity accounted investments includes \u20ac22m (2024: \u20ac34m) relating to AIB Merchant Services up to the date of disposal.
Details of the Group\u2019s associates and joint venture
Investments in associates at 31 December 2025 comprise the Group\u2019s investment in Vianova DAC (formerly Clearpay DAC), First Homes Scheme DAC
and Autolease Fleet Management Ltd. The investment in joint venture comprises the Group\u2019s investment in AIB life, being the Group\u2019s joint venture with
Great-West Lifeco\u00a0Inc. None of the investments are considered individually material to the Group.\u00a0
Transactions with the Group\u2019s associates and joint venture
Banking transactions between the Group and its associates and joint venture are entered into in the normal course of business. For further information
see notes 17 and 28. There was no unrecognised share of losses of associates or joint ventures at 31 December 2025 or 2024.
Significant restrictions
There is no significant restriction on the ability of the associates or joint ventures to transfer funds to the Group in the form of cash or dividends, or to
repay loans or advances made by the Group.
", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-636": { "value": "
22\u00a0 Intangible assets and goodwill
2025
Software
externally
purchased
Software
internally
generated
Software
under
construction
Goodwill
Other
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Cost
At 1 January
216
1,899
164
128
42
2,449
Additions
4
117
155
\u2014
\u2014
276
Transfers in/(out)
\u2014
92
(92)
\u2014
\u2014
\u2014
Amounts written-off1
(51)
(10)
(2)
\u2014
\u2014
(63)
Exchange translation adjustments
\u2014
(3)
\u2014
\u2014
\u2014
(3)
At 31 December
169
2,095
225
128
42
2,659
Accumulated amortisation/impairment
At 1 January
191
1,288
\u2014
\u2014
36
1,515
Amortisation for the year2
11
203
\u2014
\u2014
5
219
Impairment for the year2
\u2014
1
2
\u2014
\u2014
3
Amounts written-off1
(51)
(10)
(2)
\u2014
\u2014
(63)
Exchange translation adjustments
\u2014
(2)
\u2014
\u2014
\u2014
(2)
At 31 December
151
1,480
\u2014
\u2014
41
1,672
Carrying value at 31 December
18
615
225
128
1
987
2024
Software
externally
purchased
Software
internally
generated
Software
under
construction
Goodwill
Other
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Cost
At 1 January
237
1,805
158
128
42
2,370
Additions
13
106
113
\u2014
\u2014
232
Transfers in/(out)
\u2014
105
(105)
\u2014
\u2014
\u2014
Amounts written-off1
(34)
(120)
(2)
\u2014
\u2014
(156)
Exchange translation adjustments
\u2014
3
\u2014
\u2014
\u2014
3
At 31 December
216
1,899
164
128
42
2,449
Accumulated amortisation/impairment
At 1 January
214
1,201
\u2014
\u2014
30
1,445
Amortisation for the year2
11
205
\u2014
\u2014
6
222
Impairment for the year2
\u2014
\u2014
2
\u2014
\u2014
2
Amounts written-off1
(34)
(120)
(2)
\u2014
\u2014
(156)
Exchange translation adjustments
\u2014
2
\u2014
\u2014
\u2014
2
At 31 December
191
1,288
\u2014
\u2014
36
1,515
Carrying value at 31 December
25
611
164
128
6
934
1. Relates to assets which are no longer in use with a Nil carrying value.
2. Included in \u2018Impairment and amortisation of intangible assets\u2019 in the consolidated income statement.
Future capital expenditure in relation to both intangible assets and property, plant and equipment is set out in note 23.
23\u00a0 Property, plant and equipment
2025
Owned assets
Leased assets
Property
Equipment
Assets under
construction
Right-of-use assets
Total
Freehold
Long
leasehold
Leasehold
under
50 years
Property
Other
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Cost
At 1 January
176
37
120
353
10
421
5
1,122
Transfers in/(out)
4
\u2014
4
1
(9)
\u2014
\u2014
\u2014
Additions
5
\u2014
3
31
20
14
1
74
Transfers to held for sale
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Amounts written-off1
(3)
\u2014
(10)
(105)
\u2014
(12)
(1)
(131)
Exchange translation adjustments
(1)
\u2014
\u2014
(1)
\u2014
(3)
\u2014
(5)
At 31 December
181
37
117
\u2014
279
21
420
5
1,060
Accumulated depreciation/impairment
At 1 January
60
15
67
288
\u2014
174
2
606
Depreciation charge for the year2
6
\u2014
8
21
\u2014
33
1
69
Impairment charge for the year2
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Amounts written-off1
(3)
\u2014
(10)
(105)
\u2014
(12)
(1)
(131)
Transfers to held for sale
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Exchange translation adjustments
\u2014
\u2014
\u2014
\u2014
\u2014
(1)
\u2014
(1)
At 31 December
63
15
65
204
\u2014
194
2
543
Carrying value at 31 December
118
22
52
75
21
226
3
517
2024
Owned assets
Leased assets
Property
Equipment
Assets under
construction
Right-of-use assets
Total
Freehold
Long
leasehold
Leasehold
under
50 years
Property
Other
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac
m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Cost
At 1 January
173
39
109
370
17
443
5
1,156
Transfers in/(out)
1
\u2014
13
2
(16)
\u2014
\u2014
\u2014
Additions
1
\u2014
2
13
9
8
1
34
Transfers to held for sale
\u2014
(2)
\u2014
\u2014
\u2014
\u2014
\u2014
(2)
Amounts written-off1
\u2014
\u2014
(4)
(33)
\u2014
(32)
(1)
(70)
Exchange translation adjustments
1
\u2014
\u2014
1
\u2014
2
\u2014
4
At 31 December
176
37
120
353
10
421
5
1,122
Accumulated depreciation/impairment
At 1 January
54
14
61
298
\u2014
171
\u2014
598
Depreciation charge for the year2
5
1
9
22
\u2014
34
2
73
Impairment charge for the year2
1
1
1
1
\u2014
\u2014
\u2014
4
Amounts written-off1
\u2014
\u2014
(4)
(33)
\u2014
(32)
(1)
(70)
Transfers to held for sale
\u2014
(1)
\u2014
\u2014
\u2014
\u2014
\u2014
(1)
Exchange translation adjustments
\u2014
\u2014
\u2014
\u2014
\u2014
1
1
2
At 31 December
60
15
67
288
\u2014
174
2
606
Carrying value at 31 December
116
22
53
65
10
247
3
516
1. Relates to assets which are no longer in use with a Nil carrying value.
2. Included in \u2018Impairment and depreciation of property, plant and equipment\u2019 in the consolidated income statement.
The net carrying value of property occupied by the Group for its own activities was \u20ac183 million (2024: \u20ac182 million) in relation to owned assets and
\u20ac226 million in relation to right-of-use assets (2024: \u20ac247 million), excluding those held as disposal groups and non-current assets held for sale.
Property leased to others by the Group had a net carrying value of \u20ac9 million (2024: \u20ac9 million).
23\u00a0 Property, plant and equipment continued
Future capital expenditure
The table below shows future capital expenditure in relation to both property, plant and equipment and intangible assets (excluding right-of-use assets).
2025
2024
\u20ac m
\u20ac m
Estimated outstanding commitments for capital expenditure not provided for in the financial statements1
58
2
Capital expenditure authorised but not yet contracted for1
\u2014
14
1. At 31 December 2025, the Group had a higher level of contractual commitments for capital expenditure compared to the previous year. As a result of these increased commitments, there was no
outstanding authorised capital expenditure that had been approved that had not yet been contracted for.
Leased assets
Property
The Group leases property for its offices and retail branch outlets. Lease terms are negotiated on an individual basis and contain a wide range of
different terms and conditions. Most of these leases carry statutory renewal rights, or include an option to renew the lease for an additional period after
the end of the contract term. Where the Group is likely to exercise these options, this has been taken into account in determining the lease liability and
the right-of-use asset.
Other
The Group leases motor vehicles, ATM offsite locations and IT equipment.
Lease liabilities
A maturity analysis of lease liabilities is shown in note 30.
Amounts recognised in income statement
2025
2024
\u20ac m
\u20ac m
Depreciation expense on right-of-use assets
34
36
Interest on lease liabilities (note 5)
10
9
Amounts recognised in statement of cash flows
2025
2024
\u20ac m
\u20ac m
Total cash outflow for leases during the year
40
43
of which comprises interest expense on lease liabilities (note 30)
10
9
of which comprises principal repayments on lease liabilities (note 30)
30
34
", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-635": { "value": "
22\u00a0 Intangible assets and goodwill
2025
Software
externally
purchased
Software
internally
generated
Software
under
construction
Goodwill
Other
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Cost
At 1 January
216
1,899
164
128
42
2,449
Additions
4
117
155
\u2014
\u2014
276
Transfers in/(out)
\u2014
92
(92)
\u2014
\u2014
\u2014
Amounts written-off1
(51)
(10)
(2)
\u2014
\u2014
(63)
Exchange translation adjustments
\u2014
(3)
\u2014
\u2014
\u2014
(3)
At 31 December
169
2,095
225
128
42
2,659
Accumulated amortisation/impairment
At 1 January
191
1,288
\u2014
\u2014
36
1,515
Amortisation for the year2
11
203
\u2014
\u2014
5
219
Impairment for the year2
\u2014
1
2
\u2014
\u2014
3
Amounts written-off1
(51)
(10)
(2)
\u2014
\u2014
(63)
Exchange translation adjustments
\u2014
(2)
\u2014
\u2014
\u2014
(2)
At 31 December
151
1,480
\u2014
\u2014
41
1,672
Carrying value at 31 December
18
615
225
128
1
987
2024
Software
externally
purchased
Software
internally
generated
Software
under
construction
Goodwill
Other
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Cost
At 1 January
237
1,805
158
128
42
2,370
Additions
13
106
113
\u2014
\u2014
232
Transfers in/(out)
\u2014
105
(105)
\u2014
\u2014
\u2014
Amounts written-off1
(34)
(120)
(2)
\u2014
\u2014
(156)
Exchange translation adjustments
\u2014
3
\u2014
\u2014
\u2014
3
At 31 December
216
1,899
164
128
42
2,449
Accumulated amortisation/impairment
At 1 January
214
1,201
\u2014
\u2014
30
1,445
Amortisation for the year2
11
205
\u2014
\u2014
6
222
Impairment for the year2
\u2014
\u2014
2
\u2014
\u2014
2
Amounts written-off1
(34)
(120)
(2)
\u2014
\u2014
(156)
Exchange translation adjustments
\u2014
2
\u2014
\u2014
\u2014
2
At 31 December
191
1,288
\u2014
\u2014
36
1,515
Carrying value at 31 December
25
611
164
128
6
934
1. Relates to assets which are no longer in use with a Nil carrying value.
2. Included in \u2018Impairment and amortisation of intangible assets\u2019 in the consolidated income statement.
Future capital expenditure in relation to both intangible assets and property, plant and equipment is set out in note 23.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-634": { "value": "
22\u00a0 Intangible assets and goodwill
2025
Software
externally
purchased
Software
internally
generated
Software
under
construction
Goodwill
Other
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Cost
At 1 January
216
1,899
164
128
42
2,449
Additions
4
117
155
\u2014
\u2014
276
Transfers in/(out)
\u2014
92
(92)
\u2014
\u2014
\u2014
Amounts written-off1
(51)
(10)
(2)
\u2014
\u2014
(63)
Exchange translation adjustments
\u2014
(3)
\u2014
\u2014
\u2014
(3)
At 31 December
169
2,095
225
128
42
2,659
Accumulated amortisation/impairment
At 1 January
191
1,288
\u2014
\u2014
36
1,515
Amortisation for the year2
11
203
\u2014
\u2014
5
219
Impairment for the year2
\u2014
1
2
\u2014
\u2014
3
Amounts written-off1
(51)
(10)
(2)
\u2014
\u2014
(63)
Exchange translation adjustments
\u2014
(2)
\u2014
\u2014
\u2014
(2)
At 31 December
151
1,480
\u2014
\u2014
41
1,672
Carrying value at 31 December
18
615
225
128
1
987
2024
Software
externally
purchased
Software
internally
generated
Software
under
construction
Goodwill
Other
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Cost
At 1 January
237
1,805
158
128
42
2,370
Additions
13
106
113
\u2014
\u2014
232
Transfers in/(out)
\u2014
105
(105)
\u2014
\u2014
\u2014
Amounts written-off1
(34)
(120)
(2)
\u2014
\u2014
(156)
Exchange translation adjustments
\u2014
3
\u2014
\u2014
\u2014
3
At 31 December
216
1,899
164
128
42
2,449
Accumulated amortisation/impairment
At 1 January
214
1,201
\u2014
\u2014
30
1,445
Amortisation for the year2
11
205
\u2014
\u2014
6
222
Impairment for the year2
\u2014
\u2014
2
\u2014
\u2014
2
Amounts written-off1
(34)
(120)
(2)
\u2014
\u2014
(156)
Exchange translation adjustments
\u2014
2
\u2014
\u2014
\u2014
2
At 31 December
191
1,288
\u2014
\u2014
36
1,515
Carrying value at 31 December
25
611
164
128
6
934
1. Relates to assets which are no longer in use with a Nil carrying value.
2. Included in \u2018Impairment and amortisation of intangible assets\u2019 in the consolidated income statement.
Future capital expenditure in relation to both intangible assets and property, plant and equipment is set out in note 23.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-633": { "value": "
22\u00a0 Intangible assets and goodwill
2025
Software
externally
purchased
Software
internally
generated
Software
under
construction
Goodwill
Other
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Cost
At 1 January
216
1,899
164
128
42
2,449
Additions
4
117
155
\u2014
\u2014
276
Transfers in/(out)
\u2014
92
(92)
\u2014
\u2014
\u2014
Amounts written-off1
(51)
(10)
(2)
\u2014
\u2014
(63)
Exchange translation adjustments
\u2014
(3)
\u2014
\u2014
\u2014
(3)
At 31 December
169
2,095
225
128
42
2,659
Accumulated amortisation/impairment
At 1 January
191
1,288
\u2014
\u2014
36
1,515
Amortisation for the year2
11
203
\u2014
\u2014
5
219
Impairment for the year2
\u2014
1
2
\u2014
\u2014
3
Amounts written-off1
(51)
(10)
(2)
\u2014
\u2014
(63)
Exchange translation adjustments
\u2014
(2)
\u2014
\u2014
\u2014
(2)
At 31 December
151
1,480
\u2014
\u2014
41
1,672
Carrying value at 31 December
18
615
225
128
1
987
2024
Software
externally
purchased
Software
internally
generated
Software
under
construction
Goodwill
Other
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Cost
At 1 January
237
1,805
158
128
42
2,370
Additions
13
106
113
\u2014
\u2014
232
Transfers in/(out)
\u2014
105
(105)
\u2014
\u2014
\u2014
Amounts written-off1
(34)
(120)
(2)
\u2014
\u2014
(156)
Exchange translation adjustments
\u2014
3
\u2014
\u2014
\u2014
3
At 31 December
216
1,899
164
128
42
2,449
Accumulated amortisation/impairment
At 1 January
214
1,201
\u2014
\u2014
30
1,445
Amortisation for the year2
11
205
\u2014
\u2014
6
222
Impairment for the year2
\u2014
\u2014
2
\u2014
\u2014
2
Amounts written-off1
(34)
(120)
(2)
\u2014
\u2014
(156)
Exchange translation adjustments
\u2014
2
\u2014
\u2014
\u2014
2
At 31 December
191
1,288
\u2014
\u2014
36
1,515
Carrying value at 31 December
25
611
164
128
6
934
1. Relates to assets which are no longer in use with a Nil carrying value.
2. Included in \u2018Impairment and amortisation of intangible assets\u2019 in the consolidated income statement.
Future capital expenditure in relation to both intangible assets and property, plant and equipment is set out in note 23.
23\u00a0 Property, plant and equipment
2025
Owned assets
Leased assets
Property
Equipment
Assets under
construction
Right-of-use assets
Total
Freehold
Long
leasehold
Leasehold
under
50 years
Property
Other
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Cost
At 1 January
176
37
120
353
10
421
5
1,122
Transfers in/(out)
4
\u2014
4
1
(9)
\u2014
\u2014
\u2014
Additions
5
\u2014
3
31
20
14
1
74
Transfers to held for sale
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Amounts written-off1
(3)
\u2014
(10)
(105)
\u2014
(12)
(1)
(131)
Exchange translation adjustments
(1)
\u2014
\u2014
(1)
\u2014
(3)
\u2014
(5)
At 31 December
181
37
117
\u2014
279
21
420
5
1,060
Accumulated depreciation/impairment
At 1 January
60
15
67
288
\u2014
174
2
606
Depreciation charge for the year2
6
\u2014
8
21
\u2014
33
1
69
Impairment charge for the year2
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Amounts written-off1
(3)
\u2014
(10)
(105)
\u2014
(12)
(1)
(131)
Transfers to held for sale
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Exchange translation adjustments
\u2014
\u2014
\u2014
\u2014
\u2014
(1)
\u2014
(1)
At 31 December
63
15
65
204
\u2014
194
2
543
Carrying value at 31 December
118
22
52
75
21
226
3
517
2024
Owned assets
Leased assets
Property
Equipment
Assets under
construction
Right-of-use assets
Total
Freehold
Long
leasehold
Leasehold
under
50 years
Property
Other
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac
m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Cost
At 1 January
173
39
109
370
17
443
5
1,156
Transfers in/(out)
1
\u2014
13
2
(16)
\u2014
\u2014
\u2014
Additions
1
\u2014
2
13
9
8
1
34
Transfers to held for sale
\u2014
(2)
\u2014
\u2014
\u2014
\u2014
\u2014
(2)
Amounts written-off1
\u2014
\u2014
(4)
(33)
\u2014
(32)
(1)
(70)
Exchange translation adjustments
1
\u2014
\u2014
1
\u2014
2
\u2014
4
At 31 December
176
37
120
353
10
421
5
1,122
Accumulated depreciation/impairment
At 1 January
54
14
61
298
\u2014
171
\u2014
598
Depreciation charge for the year2
5
1
9
22
\u2014
34
2
73
Impairment charge for the year2
1
1
1
1
\u2014
\u2014
\u2014
4
Amounts written-off1
\u2014
\u2014
(4)
(33)
\u2014
(32)
(1)
(70)
Transfers to held for sale
\u2014
(1)
\u2014
\u2014
\u2014
\u2014
\u2014
(1)
Exchange translation adjustments
\u2014
\u2014
\u2014
\u2014
\u2014
1
1
2
At 31 December
60
15
67
288
\u2014
174
2
606
Carrying value at 31 December
116
22
53
65
10
247
3
516
1. Relates to assets which are no longer in use with a Nil carrying value.
2. Included in \u2018Impairment and depreciation of property, plant and equipment\u2019 in the consolidated income statement.
The net carrying value of property occupied by the Group for its own activities was \u20ac183 million (2024: \u20ac182 million) in relation to owned assets and
\u20ac226 million in relation to right-of-use assets (2024: \u20ac247 million), excluding those held as disposal groups and non-current assets held for sale.
Property leased to others by the Group had a net carrying value of \u20ac9 million (2024: \u20ac9 million).
23\u00a0 Property, plant and equipment continued
Future capital expenditure
The table below shows future capital expenditure in relation to both property, plant and equipment and intangible assets (excluding right-of-use assets).
2025
2024
\u20ac m
\u20ac m
Estimated outstanding commitments for capital expenditure not provided for in the financial statements1
58
2
Capital expenditure authorised but not yet contracted for1
\u2014
14
1. At 31 December 2025, the Group had a higher level of contractual commitments for capital expenditure compared to the previous year. As a result of these increased commitments, there was no
outstanding authorised capital expenditure that had been approved that had not yet been contracted for.
Leased assets
Property
The Group leases property for its offices and retail branch outlets. Lease terms are negotiated on an individual basis and contain a wide range of
different terms and conditions. Most of these leases carry statutory renewal rights, or include an option to renew the lease for an additional period after
the end of the contract term. Where the Group is likely to exercise these options, this has been taken into account in determining the lease liability and
the right-of-use asset.
Other
The Group leases motor vehicles, ATM offsite locations and IT equipment.
Lease liabilities
A maturity analysis of lease liabilities is shown in note 30.
Amounts recognised in income statement
2025
2024
\u20ac m
\u20ac m
Depreciation expense on right-of-use assets
34
36
Interest on lease liabilities (note 5)
10
9
Amounts recognised in statement of cash flows
2025
2024
\u20ac m
\u20ac m
Total cash outflow for leases during the year
40
43
of which comprises interest expense on lease liabilities (note 30)
10
9
of which comprises principal repayments on lease liabilities (note 30)
30
34
", "dimensions": { "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-632": { "value": "
22\u00a0 Intangible assets and goodwill
2025
Software
externally
purchased
Software
internally
generated
Software
under
construction
Goodwill
Other
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Cost
At 1 January
216
1,899
164
128
42
2,449
Additions
4
117
155
\u2014
\u2014
276
Transfers in/(out)
\u2014
92
(92)
\u2014
\u2014
\u2014
Amounts written-off1
(51)
(10)
(2)
\u2014
\u2014
(63)
Exchange translation adjustments
\u2014
(3)
\u2014
\u2014
\u2014
(3)
At 31 December
169
2,095
225
128
42
2,659
Accumulated amortisation/impairment
At 1 January
191
1,288
\u2014
\u2014
36
1,515
Amortisation for the year2
11
203
\u2014
\u2014
5
219
Impairment for the year2
\u2014
1
2
\u2014
\u2014
3
Amounts written-off1
(51)
(10)
(2)
\u2014
\u2014
(63)
Exchange translation adjustments
\u2014
(2)
\u2014
\u2014
\u2014
(2)
At 31 December
151
1,480
\u2014
\u2014
41
1,672
Carrying value at 31 December
18
615
225
128
1
987
2024
Software
externally
purchased
Software
internally
generated
Software
under
construction
Goodwill
Other
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Cost
At 1 January
237
1,805
158
128
42
2,370
Additions
13
106
113
\u2014
\u2014
232
Transfers in/(out)
\u2014
105
(105)
\u2014
\u2014
\u2014
Amounts written-off1
(34)
(120)
(2)
\u2014
\u2014
(156)
Exchange translation adjustments
\u2014
3
\u2014
\u2014
\u2014
3
At 31 December
216
1,899
164
128
42
2,449
Accumulated amortisation/impairment
At 1 January
214
1,201
\u2014
\u2014
30
1,445
Amortisation for the year2
11
205
\u2014
\u2014
6
222
Impairment for the year2
\u2014
\u2014
2
\u2014
\u2014
2
Amounts written-off1
(34)
(120)
(2)
\u2014
\u2014
(156)
Exchange translation adjustments
\u2014
2
\u2014
\u2014
\u2014
2
At 31 December
191
1,288
\u2014
\u2014
36
1,515
Carrying value at 31 December
25
611
164
128
6
934
1. Relates to assets which are no longer in use with a Nil carrying value.
2. Included in \u2018Impairment and amortisation of intangible assets\u2019 in the consolidated income statement.
Future capital expenditure in relation to both intangible assets and property, plant and equipment is set out in note 23.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGoodwillExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-637": { "value": "
23\u00a0 Property, plant and equipment
2025
Owned assets
Leased assets
Property
Equipment
Assets under
construction
Right-of-use assets
Total
Freehold
Long
leasehold
Leasehold
under
50 years
Property
Other
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Cost
At 1 January
176
37
120
353
10
421
5
1,122
Transfers in/(out)
4
\u2014
4
1
(9)
\u2014
\u2014
\u2014
Additions
5
\u2014
3
31
20
14
1
74
Transfers to held for sale
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Amounts written-off1
(3)
\u2014
(10)
(105)
\u2014
(12)
(1)
(131)
Exchange translation adjustments
(1)
\u2014
\u2014
(1)
\u2014
(3)
\u2014
(5)
At 31 December
181
37
117
\u2014
279
21
420
5
1,060
Accumulated depreciation/impairment
At 1 January
60
15
67
288
\u2014
174
2
606
Depreciation charge for the year2
6
\u2014
8
21
\u2014
33
1
69
Impairment charge for the year2
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Amounts written-off1
(3)
\u2014
(10)
(105)
\u2014
(12)
(1)
(131)
Transfers to held for sale
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Exchange translation adjustments
\u2014
\u2014
\u2014
\u2014
\u2014
(1)
\u2014
(1)
At 31 December
63
15
65
204
\u2014
194
2
543
Carrying value at 31 December
118
22
52
75
21
226
3
517
2024
Owned assets
Leased assets
Property
Equipment
Assets under
construction
Right-of-use assets
Total
Freehold
Long
leasehold
Leasehold
under
50 years
Property
Other
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac
m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Cost
At 1 January
173
39
109
370
17
443
5
1,156
Transfers in/(out)
1
\u2014
13
2
(16)
\u2014
\u2014
\u2014
Additions
1
\u2014
2
13
9
8
1
34
Transfers to held for sale
\u2014
(2)
\u2014
\u2014
\u2014
\u2014
\u2014
(2)
Amounts written-off1
\u2014
\u2014
(4)
(33)
\u2014
(32)
(1)
(70)
Exchange translation adjustments
1
\u2014
\u2014
1
\u2014
2
\u2014
4
At 31 December
176
37
120
353
10
421
5
1,122
Accumulated depreciation/impairment
At 1 January
54
14
61
298
\u2014
171
\u2014
598
Depreciation charge for the year2
5
1
9
22
\u2014
34
2
73
Impairment charge for the year2
1
1
1
1
\u2014
\u2014
\u2014
4
Amounts written-off1
\u2014
\u2014
(4)
(33)
\u2014
(32)
(1)
(70)
Transfers to held for sale
\u2014
(1)
\u2014
\u2014
\u2014
\u2014
\u2014
(1)
Exchange translation adjustments
\u2014
\u2014
\u2014
\u2014
\u2014
1
1
2
At 31 December
60
15
67
288
\u2014
174
2
606
Carrying value at 31 December
116
22
53
65
10
247
3
516
1. Relates to assets which are no longer in use with a Nil carrying value.
2. Included in \u2018Impairment and depreciation of property, plant and equipment\u2019 in the consolidated income statement.
The net carrying value of property occupied by the Group for its own activities was \u20ac183 million (2024: \u20ac182 million) in relation to owned assets and
\u20ac226 million in relation to right-of-use assets (2024: \u20ac247 million), excluding those held as disposal groups and non-current assets held for sale.
Property leased to others by the Group had a net carrying value of \u20ac9 million (2024: \u20ac9 million).
23\u00a0 Property, plant and equipment continued
Future capital expenditure
The table below shows future capital expenditure in relation to both property, plant and equipment and intangible assets (excluding right-of-use assets).
2025
2024
\u20ac m
\u20ac m
Estimated outstanding commitments for capital expenditure not provided for in the financial statements1
58
2
Capital expenditure authorised but not yet contracted for1
\u2014
14
1. At 31 December 2025, the Group had a higher level of contractual commitments for capital expenditure compared to the previous year. As a result of these increased commitments, there was no
outstanding authorised capital expenditure that had been approved that had not yet been contracted for.
Leased assets
Property
The Group leases property for its offices and retail branch outlets. Lease terms are negotiated on an individual basis and contain a wide range of
different terms and conditions. Most of these leases carry statutory renewal rights, or include an option to renew the lease for an additional period after
the end of the contract term. Where the Group is likely to exercise these options, this has been taken into account in determining the lease liability and
the right-of-use asset.
Other
The Group leases motor vehicles, ATM offsite locations and IT equipment.
Lease liabilities
A maturity analysis of lease liabilities is shown in note 30.
Amounts recognised in income statement
2025
2024
\u20ac m
\u20ac m
Depreciation expense on right-of-use assets
34
36
Interest on lease liabilities (note 5)
10
9
Amounts recognised in statement of cash flows
2025
2024
\u20ac m
\u20ac m
Total cash outflow for leases during the year
40
43
of which comprises interest expense on lease liabilities (note 30)
10
9
of which comprises principal repayments on lease liabilities (note 30)
30
34
", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-641": { "value": "
24\u00a0 Other assets
2025
2024
\u20ac m
\u20ac m
Proceeds due from disposal of loan portfolio1
286
133
Proceeds due from the issuance of debt securities1
\u2014
105
Stockbroking client debtors2
21
11
Items in transit
143
114
Items in course of collection
27
35
Other3
114
77
Total other assets
591
475
Other assets are analysed as follows:
Less than 1 year
569
475
Greater than 1 year
22
\u2014
591
475
1. ECL: Nil (2024: Nil).
2. ECL: \u20ac1m (2024: \u20ac1m).
3. Includes sundry debtors \u20ac28m ( 2024: \u20ac32m) and deferred consideration for the disposal of AIB Merchant Services \u20ac26m (2024: Nil).
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-640": { "value": "
24\u00a0 Other assets
2025
2024
\u20ac m
\u20ac m
Proceeds due from disposal of loan portfolio1
286
133
Proceeds due from the issuance of debt securities1
\u2014
105
Stockbroking client debtors2
21
11
Items in transit
143
114
Items in course of collection
27
35
Other3
114
77
Total other assets
591
475
Other assets are analysed as follows:
Less than 1 year
569
475
Greater than 1 year
22
\u2014
591
475
1. ECL: Nil (2024: Nil).
2. ECL: \u20ac1m (2024: \u20ac1m).
3. Includes sundry debtors \u20ac28m ( 2024: \u20ac32m) and deferred consideration for the disposal of AIB Merchant Services \u20ac26m (2024: Nil).
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-639": { "value": "
24\u00a0 Other assets
2025
2024
\u20ac m
\u20ac m
Proceeds due from disposal of loan portfolio1
286
133
Proceeds due from the issuance of debt securities1
\u2014
105
Stockbroking client debtors2
21
11
Items in transit
143
114
Items in course of collection
27
35
Other3
114
77
Total other assets
591
475
Other assets are analysed as follows:
Less than 1 year
569
475
Greater than 1 year
22
\u2014
591
475
1. ECL: Nil (2024: Nil).
2. ECL: \u20ac1m (2024: \u20ac1m).
3. Includes sundry debtors \u20ac28m ( 2024: \u20ac32m) and deferred consideration for the disposal of AIB Merchant Services \u20ac26m (2024: Nil).
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-638": { "value": "
24\u00a0 Other assets
2025
2024
\u20ac m
\u20ac m
Proceeds due from disposal of loan portfolio1
286
133
Proceeds due from the issuance of debt securities1
\u2014
105
Stockbroking client debtors2
21
11
Items in transit
143
114
Items in course of collection
27
35
Other3
114
77
Total other assets
591
475
Other assets are analysed as follows:
Less than 1 year
569
475
Greater than 1 year
22
\u2014
591
475
1. ECL: Nil (2024: Nil).
2. ECL: \u20ac1m (2024: \u20ac1m).
3. Includes sundry debtors \u20ac28m ( 2024: \u20ac32m) and deferred consideration for the disposal of AIB Merchant Services \u20ac26m (2024: Nil).
", "dimensions": { "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-642": { "value": "
26\u00a0 Retirement benefits
The Group operates a number of defined contribution and defined benefit schemes for employees.
Defined contribution
From 1 January 2014, all Group staff accru e future pension benefits on a defined contribution (DC) basis with a standard employer contribution of\u00a010%.
An additional matched employer contribution, subject to limits based on age bands of 2%, 5% or 8% is also paid into the schemes.
The amount included in operating expenses in respect of DC schemes is \u20ac99 million (2024: \u20ac96 million) (note 10).
Defined benefit schemes
All defined benefit schemes operated by the Group closed to future accrual no later than 31 December 2013 and staff transferred to defined
contribution schemes for future pension benefits. The most significant defined benefit schemes operated by the Group are the AIB Group Irish Pension
Scheme (the Irish scheme) and the AIB Group UK Pension Scheme (the UK scheme).
Retirement benefits for the defined benefit schemes are calculated by reference to service and final pensionable salary at 31 December 2013. The final
pensionable salary used in the calculation of this benefit for staff is based on their average pensionable salary in the period between 30\u00a0June 2009 and
31 December 2013. This calculation of benefit for each staff member will revalue between 1 January 2014 and retirement date in line with the statutory
requirement to revalue deferred benefits. There is no link to any future changes in salaries.
In the main Irish scheme, there are 15,325 members comprising 4,876 pensioners and 10,449 deferred members at 31 December 2025. 7,363
members have benefits accrued from 2007 to 2013 under a hybrid arrangement. In addition, there are 918 members comprising 167 pensioners and
751 deferred members at 31 December 2025 in EBS Defined Benefit Schemes.
(i) Responsibilities for governance
The Trustees of each Group pension scheme are ultimately responsible for the governance of the schemes. In respect of the Irish schemes, the scheme
actuary reviews the statutory minimum funding requirement annually. In the event of a deficit on the statutory funding basis either the Group can meet
the deficit over an agreed period through agreeing a funding proposal with the Trustees and pensions regulator or making a contribution to meet the
deficit. There are currently no funding proposals or contribution requirements in respect of the Irish schemes and the scheme actuary's most recent
review confirmed that the schemes met their statutory funding obligations. Funding arrangements for the UK scheme are described in the asset-liability
matching strategies within this note.
(ii) Risks
Details of the pension risk to which the Group is exposed are set out in the Risk Management section on pages 225 and 226 of this report.
(iii) Valuations\u00a0
Independent actuarial valuations for the Irish scheme and the UK scheme are carried out on a triennial basis by the schemes\u2019 actuary, Mercer. The\u00a0most
recent valuation of the Irish scheme was carried out at 30 June 2024 and reported the scheme to be in surplus. The next actuarial valuation of the Irish
scheme will be prepared with an effective date of 30 June 2027 with the results expected by 31 March 2028. No deficit funding is required at this time as
the Irish scheme continues to meet the minimum funding standard. The most recent valuation of the UK scheme was carried out at\u00a031 December 2023.
The next actuarial valuation of the UK scheme will be carried out for 31 December 2026 with the results expected by 31\u00a0March 2028.
(iv) Contributions
Total contributions to all defined benefit pension schemes operated by the Group in 2025 amounted to \u20ac19 million (2024: \u20ac24 million). There were no
contributions made to the Irish scheme in 2025 (2024: Nil). Contributions of \u00a316.1 million were made to the UK scheme (2024: \u00a318.5 million) with
further detail on this provided in the Asset-liability matching strategies within this note. Total contributions to all defined benefit pension schemes
operated by the Group for the year to 31 December 2026 are estimated to be \u20ac3 million.
26\u00a0 Retirement benefits continued
(v) Financial assumptions
The following table summarises the financial assumptions adopted in the preparation of these financial statements in respect of the main schemes at
31 December 2025 and 2024. The assumptions have been set based upon the advice of the Group\u2019s actuary.
2025
2024
Financial assumptions
%
%
Irish scheme
Rate of increase of pensions in payment
2.10
1.90
Discount rate
4.21
3.52
Inflation assumptions that apply to deferred members\u2019 benefits up to their retirement date
1.70
1.90
UK scheme
Rate of increase of pensions in payment1
2.95
3.20
Discount rate
5.50
5.50
Inflation assumptions (RPI)
2.90
3.10
1. The UK scheme\u2019s long-term inflation (RPI) assumption considers both projected inflation and deflation. The pension increase assumption considers increases in line with RPI but has a floor of 0%.
\u2013 Funding of increases in pensions in payment for the Irish scheme
The Board previously determined that the funding of discretionary increases to pensions in payment is a decision to be made by the Board each year. A
process, taking account of all relevant interests and factors was implemented by the Board. These interests and factors include: the advice of the
Actuary; the interests of the members of the scheme; the interests of the employees; the Group\u2019s financial circumstances and ability to pay; the views of
the Trustees and the Group\u2019s commercial interests. As a result of this process, the Group\u2019s judgement is that a constructive obligation to fund future
discretionary pension in payment increases does not exist. The Group decided in February 2025 and 2026 that the funding of discretionary increases
was not appropriate in either year in relation to the Irish\u00a0scheme.
\u2013 Rate of increase of pensions in payment \u2013 Irish scheme
Notwithstanding the decisions by the Board not to fund discretionary increases, the Trustee of the Irish scheme awarded an increase of 1.80% in\u00a02025
(2024: increase of 3.40%). Taking this decision by the Trustee into consideration and the financial position of the scheme, the long-term assumption for
future discretionary increases in pensions in payment continues to reflect an assessment of the Trustee\u2019s ability to grant further discretionary increases
without funding from the Group. Having taken actuarial advice, this amount was estimated to increase scheme liabilities by\u00a0\u20ac748 million at 31
December 2025 (31 December 2024: \u20ac808 million). This is equivalent to a rate of 2.10% (31 December 2024: 1.90%) for\u00a0the\u00a0long-term assumption for
future discretionary increases in pensions in payment (which is the lower of the surplus available to\u00a0the Trustee to\u00a0distribute or the long-term inflation
assumption).
(vi) Demographic assumptions
Demographic assumptions include assumptions for mortality, proportions married, commutation and retirement age. The mortality assumption has the
most material impact on changes in demographic assumptions and further details on this assumption are set out below. The life expectancies
underlying the value of the scheme liabilities for the Irish and UK schemes at 31 December 2025 and 2024 are shown in the following table.
Life expectancy \u2013 years
Irish scheme
UK scheme
2025
2024
2025
2024
Retiring today age 63
Males
25.2
25.1
24.3
24.2
Females
27.1
27.0
25.9
26.2
Retiring in 10 years at age 63
Males
25.8
25.8
24.2
24.5
Females
27.8
27.8
26.6
27.2
The mortality assumptions for the Irish and UK schemes were updated in 2021 to reflect emerging market experience. The table shows that a member of
the Irish scheme retiring at age 63 on 31 December 2025 is assumed to live on average for 25.2 years for a male (24.3 years for the UK scheme) and 27.1
years for a female (25.9 years for the UK scheme). There will be variation between members but these assumptions are expected to be appropriate for
all members. The table also shows the life expectancy for members aged 53 on 31 December 2025 who will retire in ten years. Younger members are
expected to live longer in retirement than those retiring now, reflecting a decrease in mortality rates in future years due to advances in medical science
and improvements in standards of living.
26\u00a0 Retirement benefits continued
(vii) Movement in defined benefit obligation and scheme assets
The following table sets out the movement in the defined benefit obligation and scheme assets during 2025 and 2024:
2025
2024
Defined
benefit
obligation
Fair
value of
scheme
assets
Asset
ceiling/
minimum
funding1
Net defined
benefit
(liabilities)
assets
Defined
benefit
obligation
Fair
value of
scheme
assets
Asset
ceiling/
minimum
funding1
Net defined
benefit
(liabilities)
assets
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At 1 January
(4,950)
5,586
(614)
22
(5,023)
5,690
(650)
17
Included in profit or loss
Past service cost
(4)
\u2014
\u2014
(4)
(1)
\u2014
\u2014
(1)
Interest (cost)/income
(184)
206
(21)
1
(183)
209
(23)
3
Administration costs
\u2014
(4)
\u2014
(4)
\u2014
(5)
\u2014
(5)
(188)
202
(21)
(7)
(184)
204
(23)
(3)
Included in other comprehensive income
Remeasurement loss:
\u2013 Actuarial (loss)/gain arising from:
\u2013 Experience adjustments2
(70)
\u2014
\u2014
(70)
(45)
\u2014
\u2014
(45)
\u2013 Changes in demographic assumptions
6
\u2014
\u2014
6
1
\u2014
\u2014
1
\u2013 Changes in financial assumptions
376
\u2014
\u2014
376
84
\u2014
\u2014
84
\u2013 Return on scheme assets excluding interest
income
\u2014
(219)
\u2014
(219)
\u2014
(117)
\u2014
(117)
\u2013 Asset ceiling/minimum funding adjustments
\u2014
\u2014
(116)
(116)
\u2014
\u2014
59
59
Total remeasurement loss
(23)
3
(18)
3
Translation adjustment on non-Euro schemes
41
(40)
\u2014
1
(36)
38
\u2014
2
353
(259)
(116)
(22)
4
(79)
59
(16)
Other
Contributions by employer
\u2014
19
\u2014
19
\u2014
24
\u2014
24
Benefits paid
264
(264)
\u2014
\u2014
253
(253)
\u2014
\u2014
264
(245)
\u2014
19
253
(229)
\u2014
24
At 31 December
(4,521)
5,284
(751)
12
(4,950)
5,586
(614)
22
Ireland4
UK
Other
31 December
2025
Ireland4
UK
Other
31 December
2024
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Recognised on the statement of financial
position as:
Retirement benefit assets
\u2014
7
12
19
\u2014
20
11
31
Retirement benefit liabilities
\u2014
\u2014
(7)
(7)
\u2014
\u2014
(9)
(9)
Net pension surplus
\u2014
7
5
12
\u2014
20
2
22
1. In recognising the net surplus or deficit on a pension scheme, the funded status of each scheme is adjusted to reflect any minimum funding requirement and any ceiling on the amount that the
sponsor has a right to recover from a scheme.
2. The effects of differences between the previous actuarial assumptions and what has actually occurred.
3. After tax \u20ac16m (2024: \u20ac13m), see note 13.
4. Includes the Irish and EBS schemes.
26\u00a0 Retirement benefits continued
Scheme assets
The Group has disclosed an analysis of scheme assets by asset class in accordance with the requirements of IAS 19. In 2024 additional voluntary
disclosures were provided for certain asset classes. The 2024 comparatives have been re-presented to align with the disclosure in 2025.
2025
2024
\u20ac m
\u20ac m
Cash and cash equivalents
528
148
Quoted equity instruments
710
995
Quoted debt instruments
1,044
1,801
Real estate1,2
282
278
Derivatives
2
(14)
Quoted investment funds
2,069
1,585
Mortgage backed securities2
\u2014
115
Insurance contracts3
649
678
Fair value of scheme assets at 31 December
5,284
5,586
1. Located in Europe.
2. A quoted market price in an active market is not available.
3. Further details on these contracts are set out in the Asset-liability matching strategies section within this note.
Sensitivity analysis for principal assumptions used to measure scheme liabilities
There are inherent uncertainties surrounding the assumptions adopted in calculating the liabilities of the pension schemes. Set out in the table below is
a sensitivity analysis of the key assumptions for the Irish scheme and the UK scheme at 31 December 2025. A sensitivity analysis for the rate of increase
of pensions in payment is not provided for the Irish scheme, as this rate is dependent on the surplus available to the Trustee to distribute and the advice
of the actuary (see page 300). The inflation sensitivities for the UK Scheme are a combination of those relating to deferred members and pensioners.
In the table below, changes in assumptions are independent of each other (i.e. the effect of the reflected change in the discount rate assumes that there
has been no change in the rate of mortality assumption and vice versa).
2025
2024
Irish scheme
defined benefit
obligation
UK scheme
defined benefit
obligation
Irish scheme
defined benefit
obligation
UK scheme
defined benefit
obligation
Increase
Decrease
Increase
Decrease
Increase
Decrease
Increase
Decrease
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Discount rate (0.25% movement)
(82)
86
(18)
16
(101)
106
(19)
18
Inflation (0.25% movement)
25
(24)
15
(18)
39
(37)
17
(19)
Future mortality (1 year change in life expectancy)
79
(79)
22
(19)
106
(106)
16
(18)
Maturity of the defined benefit obligation
The weighted average duration of the Irish scheme at 31 December 2025 is 12 years (2024: 13 years) and of the UK scheme at 31 December 2025 is 11
years (2024: 11 years).
Asset-liability matching strategies
UK scheme\u00a0
The Group and the Trustee began a substantial de-risking process of the UK scheme in 2019, with the initial purchase of a buy-in for the pensioner
members and an assured payment policy for the deferred pensioner members. The de-risking was completed in 2025 and all members\u2019 benefits are
now substantially covered by buy-in policies which match the amount and timing of the benefits payable to the members covered. Therefore, the value
of the buy-in contract will be equal to the value of the insured liabilities, using the same IAS 19 assumptions. There are liabilities in respect of
Guaranteed Minimum Pension (GMP) equalisation and data true-ups of the buy-in transactions that are expected to be covered by the buy-ins over 2026
and 2027.
To complete the conversion to buy-in, the Group made total payments of \u00a316.1 million in 2025. This was made up of \u00a32 million contributions to meet
scheme expenses and \u00a314.1 million to cover the final buy-in transaction, the expected cost of insuring GMP equalisation and data true-up liabilities, and a
cash buffer to ensure the scheme has sufficient liquidity to pay benefits as they fall due. The Group expects to make payments of \u00a32.6 million in 2026, which
includes \u00a32 million for expected Trustee expenses and an additional \u00a30.6 million in respect of the difference between the initial and final buy-in pricing from
Legal and General Assurance Society (LGAS). These payments and any other related costs are subject to change prior to finalising the buy-in.
Irish scheme
The Irish scheme continued to de-risk in 2025, with further sales of equities and additional investments in its Liability Driven Investment (LDI) portfolio,
which is in place to hedge its interest rate and inflation risk. The LDI portfolio comprises a mixture of nominal bonds, inflation linked bonds and interest
rate and inflation derivatives.
26\u00a0 Retirement benefits continued
Other long-term employee benefits
Other long-term employee benefits include additional benefits which the Group provides to employees who suffer prolonged periods of sickness,
subject to the qualifying terms of the insurer. It provides for the partial replacement of income in the event of illness or injury resulting in the employee\u2019s
long-term absence from work.
Furthermore, on the death of an employee before their normal retirement date, the Group has in place insurance policies to cover the additional
financial costs to the Group under the terms of the schemes.
In 2025, the Group contributed \u20ac11 million (2024: \u20ac11 million) towards insuring these benefits which are included in 'Operating expenses' (note\u00a010).
", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-644": { "value": "
27\u00a0 Deposits and advances from banks
2025
2024
\u20ac m
\u20ac m
Central bank \u2013 secured
\u2014
6
Other bank \u2013 unsecured1
21
27
Deposits by central banks and banks1
21
33
Cash collateral advanced by other banks1,2
135
803
Total deposits and advances from banks1
156
836
1. Refer to note 1 (c) for further information about the change in presentation to the financial statements.
2. Relates to cash collateral received from derivative and repurchase agreement counterparties.
Financial assets pledged for secured borrowings
Financial assets pledged for secured borrowings and providing access to future funding facilities with central banks and banks are detailed in the
following table.
2025
2024
Central
banks
Banks
Total
Central
banks
Banks
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Government securities
10
\u2014
10
9
\u2014
9
Other securities1
460
\u2014
460
78
\u2014
78
Total carrying value of financial assets pledged
470
\u2014
470
87
\u2014
87
1. Securities pledged as collateral include third party securities held by the Group and covered bonds secured on pools of residential mortgages that have been issued by and are held by the Group.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndBankBalancesAtCentralBanksExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-643": { "value": "
27\u00a0 Deposits and advances from banks
2025
2024
\u20ac m
\u20ac m
Central bank \u2013 secured
\u2014
6
Other bank \u2013 unsecured1
21
27
Deposits by central banks and banks1
21
33
Cash collateral advanced by other banks1,2
135
803
Total deposits and advances from banks1
156
836
1. Refer to note 1 (c) for further information about the change in presentation to the financial statements.
2. Relates to cash collateral received from derivative and repurchase agreement counterparties.
Financial assets pledged for secured borrowings
Financial assets pledged for secured borrowings and providing access to future funding facilities with central banks and banks are detailed in the
following table.
2025
2024
Central
banks
Banks
Total
Central
banks
Banks
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Government securities
10
\u2014
10
9
\u2014
9
Other securities1
460
\u2014
460
78
\u2014
78
Total carrying value of financial assets pledged
470
\u2014
470
87
\u2014
87
1. Securities pledged as collateral include third party securities held by the Group and covered bonds secured on pools of residential mortgages that have been issued by and are held by the Group.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDepositsFromBanksExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-645": { "value": "
28\u00a0 Deposits and advances from customers
2025
2024
\u20ac m
\u20ac m
Current accounts
64,871
62,657
Demand deposits
32,392
31,126
Time deposits1
19,976
16,033
Customer deposits1
117,239
109,816
Cash collateral advanced from customers1,2
432
67
Total deposits and advances from customers1
117,671
109,883
Deposits and advances from customers are analysed as follows:
Non-interest bearing current accounts
60,950
58,454
Interest bearing deposits, current accounts and short term borrowings
56,721
51,429
Total deposits and advances from customers1
117,671
109,883
of which comprises amounts due to equity accounted investments
19
320
1. Refer to note 1 (c) for further information about the change in presentation to the financial statements.
2. Relates to cash collateral received from derivative and repurchase agreement counterparties.
At 31 December 2025, the Group\u2019s five largest customer deposits amounted to 1% (2024: 1%) of total deposits and advances from customers.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDepositsFromCustomersExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-646": { "value": "
29\u00a0 Debt securities in issue
2025
2024
\u20ac m
\u20ac m
Issued by AIB Group plc
Euro Medium Term Note Programme
(a)
4,799
5,245
Global Medium Term Note Programme
(a)
2,368
2,628
7,167
7,873
Issued by subsidiaries
Credit linked notes
(b)
114
95
Bonds and other medium term notes
26
27
Commercial paper
(c)
876
837
1,016
959
Total debt securities in issue
8,183
8,832
2025
2024
Analysis of movements in debt securities in issue
\u20ac m
\u20ac m
At 1 January
8,832
8,423
Issued during the year
6,183
4,011
Repurchased
(770)
\u2014
Matured
(5,742)
(3,886)
Amortisation
52
22
Other1
(372)
262
At 31 December
8,183
8,832
1. Includes a positive fair value hedge adjustment of \u20ac55m (2024: positive \u20ac70m), negative foreign exchange of\u00a0\u20ac428m (2024: positive \u20ac192m).
(a) Euro and Global Medium Term Note Programme
All the issuances by AIB Group plc are initially eligible to meet the Group\u2019s MREL requirements. These instruments are redeemable for tax or for
regulatory reasons, subject to the permission of the relevant regulation authority.
Issuances
During 2025, AIB Group plc issued the following senior unsecured notes:
Issue date
Nominal amount
Optional redemption date
Maturity date
Interest rate1
March 2025
\u20ac500m
March 2032
March 2033
3.75% Fixed Rate
March 2025
\u20ac300m
March 2035
March 2036
4% Fixed Rate
May 2025
$750m
May 2030
May 2031
5.32% Fixed Rate
1. Interest is payable annually, or semi-annually in arrears.
Repurchases
During 2025, AIB Group plc repurchased the following senior unsecured notes:
Repurchase date
Nominal amount
Repurchased nominal
Maturity date
Interest rate
Outstanding nominal
March 2025
\u20ac750m
\u20ac343m
July 2026
3.625% Fixed Rate
Nil1
May 2025
$750m
$469m
October 2026
7.583% Fixed Rate
Nil 2
1. The remaining nominal of \u20ac407m was redeemed in July on the call date.
2. The remaining nominal of $281m was redeemed in October on the call date.
(b) Credit linked notes
The following table shows the amortising credit linked notes issued by the Group as part of credit risk transfer transactions. For further information on
Significant Risk Transfer, refer to \u2018credit risk mitigants\u2019 on page 185 in the Risk Management section of this report.
Issue date
Initial nominal amount
Optional redemption date
Maturity date
Interest rate1
Reference portfolio
November 2024
\u20ac97.5m
January 2028
January 2033
Floating Rate
Corporate loans
December 2025
\u20ac49.81m
January 2039
January 2044
Floating Rate
Residential mortgages2
1. Interest is payable quarterly in arrears.
2. During 2025, AIB Group plc executed a significant risk transfer transaction on a reference portfolio of \u20ac1.97bn of residential mortgages.
(c) Commercial paper
Allied Irish Banks, p.l.c. introduced a short-term commercial paper programme in 2024. This programme is used as an additional liquidity mechanism
whereby short-term debt, with maturities of typically less than six months, is issued in EUR, GBP and USD.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-647": { "value": "
30\u00a0 Lease liabilities
Analysis of movements in lease liabilities
2025
2024
\u20ac m
\u20ac m
At 1 January
258
282
Lease payments1
(40)
(43)
Interest expense1
10
9
Additions
15
9
Foreign exchange translation adjustments
(2)
1
At 31 December
241
258
1. Comprises principal payments of \u20ac30m (2024: \u20ac34m) and interest payments of \u20ac10m (2024: \u20ac9m).
2025
2024
Maturity analysis \u2013 contractual undiscounted cash flows:
\u20ac m
\u20ac m
Not later than one year
41
41
Later than one year and not later than five years
121
127
Later than five years
139
160
Total undiscounted lease liabilities at end of year
301
328
", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-650": { "value": "
31\u00a0 Other liabilities
2025
2024
\u20ac m
\u20ac m
Notes in circulation
30
33
Items in transit
126
65
Creditors
36
40
Stockbroking client creditors
32
11
Bank drafts
249
252
Items in course of collection
377
321
Other1
382
389
Total other liabilities
1,232
1,111
Other liabilities are analysed as follows:
Less than 1 year
1,158
1,047
Greater than 1 year
74
64
1,232
1,111
1. Includes invoice discounting credit balances on deposits and advances from customers \u20ac141m (2024: \u20ac120m) and debt securities awaiting settlement Nil (2024: \u20ac32m).
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-649": { "value": "
31\u00a0 Other liabilities
2025
2024
\u20ac m
\u20ac m
Notes in circulation
30
33
Items in transit
126
65
Creditors
36
40
Stockbroking client creditors
32
11
Bank drafts
249
252
Items in course of collection
377
321
Other1
382
389
Total other liabilities
1,232
1,111
Other liabilities are analysed as follows:
Less than 1 year
1,158
1,047
Greater than 1 year
74
64
1,232
1,111
1. Includes invoice discounting credit balances on deposits and advances from customers \u20ac141m (2024: \u20ac120m) and debt securities awaiting settlement Nil (2024: \u20ac32m).
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-648": { "value": "
31\u00a0 Other liabilities
2025
2024
\u20ac m
\u20ac m
Notes in circulation
30
33
Items in transit
126
65
Creditors
36
40
Stockbroking client creditors
32
11
Bank drafts
249
252
Items in course of collection
377
321
Other1
382
389
Total other liabilities
1,232
1,111
Other liabilities are analysed as follows:
Less than 1 year
1,158
1,047
Greater than 1 year
74
64
1,232
1,111
1. Includes invoice discounting credit balances on deposits and advances from customers \u20ac141m (2024: \u20ac120m) and debt securities awaiting settlement Nil (2024: \u20ac32m).
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-651": { "value": "
32\u00a0 Tier 2 subordinated liabilities and other capital instruments
2025
2024
\u20ac m
\u20ac m
Dated loan capital \u2013 European Medium Term Note Programme:
Issued by AIB Group plc
\u20ac1bn Subordinated Tier 2 Notes
(a)
990
963
\u20ac650m Subordinated Tier 2 Notes
(b)
655
662
\u20ac1bn Subordinated Tier 2 Notes
(c)
980
\u2014
2,625
1,625
Issued by subsidiaries
\u20ac500m Callable Step-up Floating Rate Notes (nominal value \u20ac0.2m) due 2035
\u2014
\u2014
\u00a3368m 12.5% Subordinated Notes (nominal value \u00a31.715m) due 2035
1
2
\u00a3500m Callable Fixed/Floating Rate Notes (nominal value \u00a30.136m) due 2035
\u2014
\u2014
1
2
Total Tier 2 subordinated liabilities and other capital instruments
2,626
1,627
Dated loan capital outstanding is repayable as follows:
5 years or more
2,626
1,627
2025
2024
Analysis of movements in Tier 2 subordinated liabilities and other capital instruments
\u20ac m
\u20ac m
At 1 January
1,627
1,473
Issued during the year
1,000
650
Repurchased
(1)
(502)
Matured
\u2014
(94)
Amortisation
\u2014
3
Other
\u2014
97
At 31 December
2,626
1,627
Dated loan capital issued by AIB Group plc
The following table shows the dated loan capital at 31 December 2025 and 2024:
Nominal
amount
Issue
date
Optional
redemption date
Maturity
date
Interest
rate1
Interest rate reset on
optional redemption date
(a)
\u20ac1bn
September 2020
May 2026
May 2031
2.875% Fixed Rate
Euro 5 year Mid Swap rate plus a margin of 330bps
(b)
\u20ac650m
May 2024
May 2030
May 2035
4.625% Fixed Rate
Euro 5 year Mid Swap rate plus a margin of 190bps
(c)
\u20ac1bn
December 2025
December 2031
December 2036
3.75% Fixed Rate
Euro 5 year Mid Swap rate plus a margin of 140bps
1. Interest is payable annually in arrears.
The Notes may be redeemed in whole, but not in part, at the option of the Group on the optional redemption date, subject to the approval of the
regulatory authorities, with approval being conditional on meeting the requirements of the EU Capital Requirements Regulation.
Dated subordinated loan capital issued by subsidiaries
Following liability management exercises and the Subordinated Liabilities Order (SLO) in 2011, residual balances remained on the dated loan capital
instruments above. The SLO, which was effective from 22 April 2011, changed the terms of all of those outstanding dated loan capital instruments. The
original liabilities were derecognised and new liabilities were recognised, with their initial measurement based on the fair value at\u00a0the SLO effective date.
The contractual maturity date changed to 2035 as a result of the SLO, and payment of coupons became optional at the discretion of the Group. The
Board of Allied Irish Banks, p.l.c. has considered the matter and as at the date of this report, the Group\u2019s position is that coupons are not paid on these
instruments. These instruments will amortise to their nominal value in the period to their maturity in 2035. In 2025, Allied Irish Banks, p.l.c. repurchased
\u20ac1 million (2024: \u20ac118 million) nominal of these notes, at a discount to par.
Additional information
The dated loan capital in this section is subordinated in right of payment to senior creditors, including depositors, of the respective issuing entities.
Following the implementation in Ireland of the EU (Bank Recovery and Resolution) Regulations 2015, these notes are loss absorbing at the point
of non-viability.", "dimensions": { "concept": "ifrs-full:DisclosureOfSubordinatedLiabilitiesExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-652": { "value": "
33\u00a0 Provisions for liabilities and commitments
2025
Legal
claims
Customer
redress
Other
provisions
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At 1 January 2025
23
94
29
146
Charged to income statement
6
2
2
10
1
Released to income statement
(8)
(4)
\u2014
(12)
1
Provisions utilised
(5)
(45)
(4)
(54)
At 31 December 2025
16
47
27
90
2
ECLs on loan commitments and financial guarantees contracts
At 1 January 2025
57
Net writeback to income statement
(8)
3
Disposals
\u2014
Exchange translation adjustments
(1)
At 31 December 2025
48
Total provisions for liabilities and commitments
138
2024
Legal claims
Customer
redress
Other
provisions
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At 1 January 2024
23
82
33
138
Charged to income statement
3
68
7
78
1
Released to income statement
(1)
(16)
(5)
(22)
1
Provisions utilised
(2)
(40)
(6)
(48)
At 31 December 2024
23
94
29
146
2
ECLs on loan commitments and financial guarantees contracts
At 1 January 2024
59
Net writeback to income statement
(3)
3
Disposals
\u2014
Exchange translation adjustments
1
At 31 December 2024
57
Total provisions for liabilities and commitments
203
1. Included in note 10.
2. Amounts expected to be settled within one year are \u20ac51m ( 2024: \u20ac99m). Amounts expected to be settled outside of one year amount to \u20ac39m (31 December 2024: \u20ac47m).
3. Included in note 11.
The ECL allowance on loan commitments and financial guarantee contracts are presented as a provision in the balance sheet (i.e. as a liability under
IFRS 9) and separate from the ECL allowance on financial assets. For details of the geographic concentration of\u00a0contingent liabilities and commitments
and internal credit ratings, see pages 199 and 208 in the Risk Management section of this report.
Legal claims
In the ordinary course of business, legal claims (claims which have resulted in legal cases commencing in the Courts) are frequently served on the
Group. There is always a level of uncertainty with legal claims given the range of potential outcomes. The Group considers many factors, including the
background facts of the legal claim, legal advice and the stage of the legal claim to determine the appropriate provision.
Customer redress
Customer redress relates to remediation payments to customers and associated costs for certain legacy matters such as investment property funds;
the 2020 Financial Services and Pensions Ombudsman decision; and other customer redress provisions. The provision represents the Group\u2019s best
estimate of the costs of remediation of any remaining impacted customers, addressing customer appeals and closing out other related matters. Due to
the complex nature of these legacy matters, they can take some time to resolve and the final outcome may be higher or lower depending on the
finalisation of all associated matters.
Other provisions
Other provisions, which are individually immaterial, include provisions for right-of-use commitments, onerous contracts and other miscellaneous
provisions.
38\u00a0 Contingent liabilities and commitments
The following table gives the nominal or contract amounts of contingent liabilities and commitments:
Contract amount
2025
2024
\u20ac m
\u20ac m
Contingent liabilities1 \u2013 credit related
Guarantees and assets pledged as collateral security:
Guarantees and irrevocable letters of credit
1,182
952
Other contingent liabilities
24
24
1,206
976
Commitments2
Documentary credits and short term trade-related transactions
167
276
Undrawn formal standby facilities, credit lines and other commitments to lend:
Less than 1 year
10,474
10,443
1 year and over
6,392
6,104
17,033
16,823
Total contingent liabilities and commitments
18,239
17,799
1. Contingent liabilities are off-balance sheet products and include guarantees, irrevocable letters of credit and other contingent liability products.
2. A commitment is an off-balance sheet product where there is an agreement to provide an undrawn credit facility.
For details of the geographic concentration of contingent liabilities and commitments and internal credit ratings, see pages 199 and 208 in the Risk
Management section of this report. Provisions for ECLs on loan commitments and financial guarantee contracts are set out in note 33.
Legal proceedings
The\u2008Group, in the course of its business, is frequently involved in litigation cases. However, it is not, nor has been, involved in, nor are there, so far as the
Group is aware, pending or threatened by or against the Group, any legal or arbitration proceedings, including governmental proceedings, which may
have, or have had during the previous twelve months, a material effect on the financial position, profitability or cash flows of the\u2008Group.
TARGET-Ireland \u2013 Gross Settlement System
TARGET-Ireland is a real-time gross settlement system for large volume interbank payments in euro. As part of its participation in TARGET-Ireland, on 16
March 2023 Allied Irish Banks, p.l.c. (AIB) granted a first floating charge in favour of the Central Bank of Ireland (CBI), giving over all present and future
credit balances in AIB\u2019s TARGET-Ireland accounts, securing AIB\u2019s liabilities to the CBI. AIB also has access to intra\u2011day credit in TARGET2-Ireland (now
TARGET-Ireland) in relation to Eurosystem Operations. To support this, on 7 April 2014, AIB granted the CBI a fixed charge over eligible assets held in a
designated collateral account, and a floating charge over other eligible assets.
Without the CBI\u2019s prior written consent, AIB may not create encumbrances over, or dispose of, the charged assets other than in the ordinary course of
business. Financial assets pledged under the first fixed charge are disclosed in note 27.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-653": { "value": "
33\u00a0 Provisions for liabilities and commitments
2025
Legal
claims
Customer
redress
Other
provisions
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At 1 January 2025
23
94
29
146
Charged to income statement
6
2
2
10
1
Released to income statement
(8)
(4)
\u2014
(12)
1
Provisions utilised
(5)
(45)
(4)
(54)
At 31 December 2025
16
47
27
90
2
ECLs on loan commitments and financial guarantees contracts
At 1 January 2025
57
Net writeback to income statement
(8)
3
Disposals
\u2014
Exchange translation adjustments
(1)
At 31 December 2025
48
Total provisions for liabilities and commitments
138
2024
Legal claims
Customer
redress
Other
provisions
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At 1 January 2024
23
82
33
138
Charged to income statement
3
68
7
78
1
Released to income statement
(1)
(16)
(5)
(22)
1
Provisions utilised
(2)
(40)
(6)
(48)
At 31 December 2024
23
94
29
146
2
ECLs on loan commitments and financial guarantees contracts
At 1 January 2024
59
Net writeback to income statement
(3)
3
Disposals
\u2014
Exchange translation adjustments
1
At 31 December 2024
57
Total provisions for liabilities and commitments
203
1. Included in note 10.
2. Amounts expected to be settled within one year are \u20ac51m ( 2024: \u20ac99m). Amounts expected to be settled outside of one year amount to \u20ac39m (31 December 2024: \u20ac47m).
3. Included in note 11.
The ECL allowance on loan commitments and financial guarantee contracts are presented as a provision in the balance sheet (i.e. as a liability under
IFRS 9) and separate from the ECL allowance on financial assets. For details of the geographic concentration of\u00a0contingent liabilities and commitments
and internal credit ratings, see pages 199 and 208 in the Risk Management section of this report.
Legal claims
In the ordinary course of business, legal claims (claims which have resulted in legal cases commencing in the Courts) are frequently served on the
Group. There is always a level of uncertainty with legal claims given the range of potential outcomes. The Group considers many factors, including the
background facts of the legal claim, legal advice and the stage of the legal claim to determine the appropriate provision.
Customer redress
Customer redress relates to remediation payments to customers and associated costs for certain legacy matters such as investment property funds;
the 2020 Financial Services and Pensions Ombudsman decision; and other customer redress provisions. The provision represents the Group\u2019s best
estimate of the costs of remediation of any remaining impacted customers, addressing customer appeals and closing out other related matters. Due to
the complex nature of these legacy matters, they can take some time to resolve and the final outcome may be higher or lower depending on the
finalisation of all associated matters.
Other provisions
Other provisions, which are individually immaterial, include provisions for right-of-use commitments, onerous contracts and other miscellaneous
provisions.", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-656": { "value": "
34\u00a0 Share capital
The following table shows the authorised and fully paid issued share capital:
31 December 2025
31 December 2024
Number of
shares
Number of
shares
m
\u20ac m
m
\u20ac m
Authorised
Ordinary share capital
Ordinary shares of \u20ac0.625 each
4,000.0
2,500
4,000.0
2,500
Issued and fully paid
Ordinary share capital
Ordinary shares of \u20ac0.625 each
2,136.7
1,335
2,328.4
1,455
All AIB Group plc ordinary shares in issue confer identical rights, including in respect of capital, dividends and voting.
Movement in ordinary shares
The following table shows the movement in the number of ordinary shares:
2025
2024
Number of
shares
Number of
shares
m
m
At 1 January
2,328.4
2,618.7
Repurchase and cancellation of shares1
(191.7)
(290.3)
At 31 December
2,136.7
2,328.4
1. In May 2025, AIB Group plc completed a directed share buyback from the Minister for Finance. This buyback resulted in the repurchase of 191,671,857 ordinary shares with a nominal value of \u20ac0.625
each for a total consideration of \u20ac1,200m. Following repurchase, these shares\u00a0were cancelled and \u20ac120m, which represents the nominal value of the acquired shares, was transferred from share
capital to capital redemption reserves.
Warrants
In 2017, warrants were issued to the Minister for Finance to subscribe for 271,166,685 ordinary shares of AIB Group plc. On 30 October 2025, the Group
entered into a Warrant Cancellation Deed with the Minister to cancel the warrants in consideration for a cash payment of \u20ac390 million. The Group also
incurred costs of \u20ac3 million in relation to this transaction.
Structure of the Company\u2019s share capital
The following table shows the structure of the Company\u2019s share capital:
31 December 2025
31 December 2024
Authorised
share capital
%
Issued share
capital
%
Authorised
share capital
%
Issued share
capital
%
Class of share
Ordinary share capital
100
100
100
100
34\u00a0 Share capital continued
Capital resources
The following table shows the Group\u2019s capital resources:
31 December
2025
2024
\u20ac m
\u20ac m
Equity1
14,691
15,427
Dated capital notes (note 32)
2,626
1,627
Total capital resources
17,317
17,054
1. Includes other equity interests of \u20ac1,314m (2024: \u20ac1,239m); for further information see note 35.
The objectives of the Group\u2019s capital management policy are to at all times comply with regulatory capital requirements and to ensure that the Group
has sufficient capital to cover the current and future risk inherent in its business and to support its future development
", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-655": { "value": "
34\u00a0 Share capital
The following table shows the authorised and fully paid issued share capital:
31 December 2025
31 December 2024
Number of
shares
Number of
shares
m
\u20ac m
m
\u20ac m
Authorised
Ordinary share capital
Ordinary shares of \u20ac0.625 each
4,000.0
2,500
4,000.0
2,500
Issued and fully paid
Ordinary share capital
Ordinary shares of \u20ac0.625 each
2,136.7
1,335
2,328.4
1,455
All AIB Group plc ordinary shares in issue confer identical rights, including in respect of capital, dividends and voting.
Movement in ordinary shares
The following table shows the movement in the number of ordinary shares:
2025
2024
Number of
shares
Number of
shares
m
m
At 1 January
2,328.4
2,618.7
Repurchase and cancellation of shares1
(191.7)
(290.3)
At 31 December
2,136.7
2,328.4
1. In May 2025, AIB Group plc completed a directed share buyback from the Minister for Finance. This buyback resulted in the repurchase of 191,671,857 ordinary shares with a nominal value of \u20ac0.625
each for a total consideration of \u20ac1,200m. Following repurchase, these shares\u00a0were cancelled and \u20ac120m, which represents the nominal value of the acquired shares, was transferred from share
capital to capital redemption reserves.
Warrants
In 2017, warrants were issued to the Minister for Finance to subscribe for 271,166,685 ordinary shares of AIB Group plc. On 30 October 2025, the Group
entered into a Warrant Cancellation Deed with the Minister to cancel the warrants in consideration for a cash payment of \u20ac390 million. The Group also
incurred costs of \u20ac3 million in relation to this transaction.
Structure of the Company\u2019s share capital
The following table shows the structure of the Company\u2019s share capital:
31 December 2025
31 December 2024
Authorised
share capital
%
Issued share
capital
%
Authorised
share capital
%
Issued share
capital
%
Class of share
Ordinary share capital
100
100
100
100
34\u00a0 Share capital continued
Capital resources
The following table shows the Group\u2019s capital resources:
31 December
2025
2024
\u20ac m
\u20ac m
Equity1
14,691
15,427
Dated capital notes (note 32)
2,626
1,627
Total capital resources
17,317
17,054
1. Includes other equity interests of \u20ac1,314m (2024: \u20ac1,239m); for further information see note 35.
The objectives of the Group\u2019s capital management policy are to at all times comply with regulatory capital requirements and to ensure that the Group
has sufficient capital to cover the current and future risk inherent in its business and to support its future development
Earnings per share
The calculation of basic earnings per ordinary shares is based on the profit attributable to ordinary shareholders divided by the weighted average number
of ordinary shares in issue, excluding own shares held. The ordinary shares are included in the weighted average number of shares on a time
apportioned basis.
The diluted earnings per share is based on the profit attributable to ordinary shareholders divided by the weighted average number of ordinary shares in
issue, excluding own shares held, adjusted for the effect of dilutive potential ordinary shares.
There was no material difference in the weighted average number of shares used for basic and diluted earnings per share for 2025 and 2024. Warrants
issued to the Minister of Finance were not included in calculating the diluted earnings per share as they were antidilutive in 2025 (up to the date of
cancellation) and in 2024. Share options issued under the Group's SAYE scheme in 2025 were dilutive, however they did not materially impact the
weighted average number of shares used for the diluted earnings per share calculation for 2025.
The following table shows the profit attributable to ordinary shareholders of the parent:
2025
2024
Profit attributable to ordinary shareholders of the parent
\u20ac m
\u20ac m
Profit attributable to equity holders of the parent
2,141
2,354
Distributions on other equity interests (note 35)
(85)
(80)
Profit attributable to ordinary shareholders of the parent
2,056
2,274
The following table shows the basic and diluted earnings per share:
31 December 2025
31 December 2024
Profit
Number of shares1
Earnings per share
Profit
Number of shares1
Earnings per share
\u20ac m
m
\u20ac cent
\u20ac m
m
\u20ac cent
Basic and diluted
2,056
2,202.9
93.3
2,274
2,459.4
92.5
1. Weighted average number of ordinary shares in issue during the year.
35\u00a0 Other equity interests
2025
2024
\u20ac m
\u20ac m
Issued by AIB Group plc
\u20ac625m Additional Tier 1 Perpetual Contingent Temporary Write-Down Securities1
(a)
\u2014
619
\u20ac625m\u00a0 Additional Tier 1 Perpetual Contingent Temporary Write-Down Securities2
(b)
620
620
\u20ac700m\u00a0 Additional Tier 1 Perpetual Contingent Temporary Write-Down Securities 2
(c)
694
\u2014
Total other equity interests
1,314
1,239
1. Included in the Group\u2019s capital base in 2024, subsequently redeemed in 2025.
2. Included in the Group\u2019s capital base.
The following table shows the securities issued by the Group at 31 December 2025 and 2024:
Nominal
amount
Issue
date
Optional
redemption date
Interest
rate1
Interest rate
reset date
Interest
reset
(a)
\u20ac625m
June 2020
June 20252
6.250% Fixed Rate
December 2025
Relevant 5 year fixed rate plus a margin of 662.9bps
(b)
\u20ac625m
April 2024
October 2029
7.125% Fixed Rate
April 2030
Relevant 5 year fixed rate plus a margin of 438.7bps
(c)
\u20ac700m
January 2025
July 2031
6% Fixed Rate
January 2032
Relevant 5 year fixed rate plus a margin of 370.5bps
1. Interest is payable semi-annually in arrears. The interest payment is fully discretionary and non-cumulative and conditional upon the Company being solvent at the time of payment, having sufficient
distributable reserves and not being required by the regulatory authorities to cancel an interest payment.
2. The Group exercised a call option to redeem this security on 23 June 2025.
The securities are perpetual securities with no fixed redemption date. The Company may, in its sole and full discretion, subject to regulatory approval,
redeem all (but not some only) of the securities on any day falling in the period commencing on (and including) the optional redemption date and ending
on (and including) the first reset date or on any interest payment date thereafter at the prevailing principal amount together with accrued but unpaid
interest. In addition, the securities are redeemable at the option of the Company for certain regulatory or tax reasons, subject to regulatory approval.
The securities, which do not carry voting rights, rank pari passu with holders of other Tier 1 instruments (excluding the Company\u2019s ordinary shares). They
rank ahead of the holders of ordinary share capital of the Company but junior to the claims of senior creditors and to Tier 2 capital of\u00a0the Company.
Under the EU (Bank Recovery and Resolution) Regulations 2015, these securities are loss absorbing at the point of non-viability.
Furthermore, if the CET1 ratio of the Group at any time falls below 7%, subject to certain conditions, the Company shall write down the securities by the
write-down amount and irrevocably cancel any accrued and unpaid interest up to (but excluding) the write-down date. To the extent permitted, in order
to comply with regulatory capital and other requirements, the Company may reinstate any previously written down amount.
Distributions
Distributions amounting to \u20ac85 million (2024: \u20ac80 million) were paid on these instruments by the Group.
36\u00a0 Capital reserves, merger reserve and capital redemption reserves
2025
2024
Capital reserves
Capital
contribution
reserves
Other
capital
reserves
Total
Capital
contribution
reserves
Other
capital
reserves
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At beginning and end of year
955
1
178
2
1,133
955
1
178
2
1,133
1. Relates to the acquisition of EBS d.a.c.
2. Other capital reserves represent transfers from retained earnings in accordance with relevant legislation.
For details regarding the capital contribution reserves, refer to accounting policy (w) in note 1.
Merger reserve
2025
2024
\u20ac m
\u20ac m
At beginning and end of year
(3,622)
(3,622)
The following table shows the movement on capital redemption reserves:
Capital redemption reserves
2025
2024
\u20ac m
\u20ac m
At 1 January
255
73
Transfer from ordinary share capital (note 34)
120
182
At 31 December
375
255
", "dimensions": { "concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-654": { "value": "
34\u00a0 Share capital
The following table shows the authorised and fully paid issued share capital:
31 December 2025
31 December 2024
Number of
shares
Number of
shares
m
\u20ac m
m
\u20ac m
Authorised
Ordinary share capital
Ordinary shares of \u20ac0.625 each
4,000.0
2,500
4,000.0
2,500
Issued and fully paid
Ordinary share capital
Ordinary shares of \u20ac0.625 each
2,136.7
1,335
2,328.4
1,455
All AIB Group plc ordinary shares in issue confer identical rights, including in respect of capital, dividends and voting.
Movement in ordinary shares
The following table shows the movement in the number of ordinary shares:
2025
2024
Number of
shares
Number of
shares
m
m
At 1 January
2,328.4
2,618.7
Repurchase and cancellation of shares1
(191.7)
(290.3)
At 31 December
2,136.7
2,328.4
1. In May 2025, AIB Group plc completed a directed share buyback from the Minister for Finance. This buyback resulted in the repurchase of 191,671,857 ordinary shares with a nominal value of \u20ac0.625
each for a total consideration of \u20ac1,200m. Following repurchase, these shares\u00a0were cancelled and \u20ac120m, which represents the nominal value of the acquired shares, was transferred from share
capital to capital redemption reserves.
Warrants
In 2017, warrants were issued to the Minister for Finance to subscribe for 271,166,685 ordinary shares of AIB Group plc. On 30 October 2025, the Group
entered into a Warrant Cancellation Deed with the Minister to cancel the warrants in consideration for a cash payment of \u20ac390 million. The Group also
incurred costs of \u20ac3 million in relation to this transaction.
Structure of the Company\u2019s share capital
The following table shows the structure of the Company\u2019s share capital:
31 December 2025
31 December 2024
Authorised
share capital
%
Issued share
capital
%
Authorised
share capital
%
Issued share
capital
%
Class of share
Ordinary share capital
100
100
100
100
34\u00a0 Share capital continued
Capital resources
The following table shows the Group\u2019s capital resources:
31 December
2025
2024
\u20ac m
\u20ac m
Equity1
14,691
15,427
Dated capital notes (note 32)
2,626
1,627
Total capital resources
17,317
17,054
1. Includes other equity interests of \u20ac1,314m (2024: \u20ac1,239m); for further information see note 35.
The objectives of the Group\u2019s capital management policy are to at all times comply with regulatory capital requirements and to ensure that the Group
has sufficient capital to cover the current and future risk inherent in its business and to support its future development
Earnings per share
The calculation of basic earnings per ordinary shares is based on the profit attributable to ordinary shareholders divided by the weighted average number
of ordinary shares in issue, excluding own shares held. The ordinary shares are included in the weighted average number of shares on a time
apportioned basis.
The diluted earnings per share is based on the profit attributable to ordinary shareholders divided by the weighted average number of ordinary shares in
issue, excluding own shares held, adjusted for the effect of dilutive potential ordinary shares.
There was no material difference in the weighted average number of shares used for basic and diluted earnings per share for 2025 and 2024. Warrants
issued to the Minister of Finance were not included in calculating the diluted earnings per share as they were antidilutive in 2025 (up to the date of
cancellation) and in 2024. Share options issued under the Group's SAYE scheme in 2025 were dilutive, however they did not materially impact the
weighted average number of shares used for the diluted earnings per share calculation for 2025.
The following table shows the profit attributable to ordinary shareholders of the parent:
2025
2024
Profit attributable to ordinary shareholders of the parent
\u20ac m
\u20ac m
Profit attributable to equity holders of the parent
2,141
2,354
Distributions on other equity interests (note 35)
(85)
(80)
Profit attributable to ordinary shareholders of the parent
2,056
2,274
The following table shows the basic and diluted earnings per share:
31 December 2025
31 December 2024
Profit
Number of shares1
Earnings per share
Profit
Number of shares1
Earnings per share
\u20ac m
m
\u20ac cent
\u20ac m
m
\u20ac cent
Basic and diluted
2,056
2,202.9
93.3
2,274
2,459.4
92.5
1. Weighted average number of ordinary shares in issue during the year.
35\u00a0 Other equity interests
2025
2024
\u20ac m
\u20ac m
Issued by AIB Group plc
\u20ac625m Additional Tier 1 Perpetual Contingent Temporary Write-Down Securities1
(a)
\u2014
619
\u20ac625m\u00a0 Additional Tier 1 Perpetual Contingent Temporary Write-Down Securities2
(b)
620
620
\u20ac700m\u00a0 Additional Tier 1 Perpetual Contingent Temporary Write-Down Securities 2
(c)
694
\u2014
Total other equity interests
1,314
1,239
1. Included in the Group\u2019s capital base in 2024, subsequently redeemed in 2025.
2. Included in the Group\u2019s capital base.
The following table shows the securities issued by the Group at 31 December 2025 and 2024:
Nominal
amount
Issue
date
Optional
redemption date
Interest
rate1
Interest rate
reset date
Interest
reset
(a)
\u20ac625m
June 2020
June 20252
6.250% Fixed Rate
December 2025
Relevant 5 year fixed rate plus a margin of 662.9bps
(b)
\u20ac625m
April 2024
October 2029
7.125% Fixed Rate
April 2030
Relevant 5 year fixed rate plus a margin of 438.7bps
(c)
\u20ac700m
January 2025
July 2031
6% Fixed Rate
January 2032
Relevant 5 year fixed rate plus a margin of 370.5bps
1. Interest is payable semi-annually in arrears. The interest payment is fully discretionary and non-cumulative and conditional upon the Company being solvent at the time of payment, having sufficient
distributable reserves and not being required by the regulatory authorities to cancel an interest payment.
2. The Group exercised a call option to redeem this security on 23 June 2025.
The securities are perpetual securities with no fixed redemption date. The Company may, in its sole and full discretion, subject to regulatory approval,
redeem all (but not some only) of the securities on any day falling in the period commencing on (and including) the optional redemption date and ending
on (and including) the first reset date or on any interest payment date thereafter at the prevailing principal amount together with accrued but unpaid
interest. In addition, the securities are redeemable at the option of the Company for certain regulatory or tax reasons, subject to regulatory approval.
The securities, which do not carry voting rights, rank pari passu with holders of other Tier 1 instruments (excluding the Company\u2019s ordinary shares). They
rank ahead of the holders of ordinary share capital of the Company but junior to the claims of senior creditors and to Tier 2 capital of\u00a0the Company.
Under the EU (Bank Recovery and Resolution) Regulations 2015, these securities are loss absorbing at the point of non-viability.
Furthermore, if the CET1 ratio of the Group at any time falls below 7%, subject to certain conditions, the Company shall write down the securities by the
write-down amount and irrevocably cancel any accrued and unpaid interest up to (but excluding) the write-down date. To the extent permitted, in order
to comply with regulatory capital and other requirements, the Company may reinstate any previously written down amount.
Distributions
Distributions amounting to \u20ac85 million (2024: \u20ac80 million) were paid on these instruments by the Group.
36\u00a0 Capital reserves, merger reserve and capital redemption reserves
2025
2024
Capital reserves
Capital
contribution
reserves
Other
capital
reserves
Total
Capital
contribution
reserves
Other
capital
reserves
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
At beginning and end of year
955
1
178
2
1,133
955
1
178
2
1,133
1. Relates to the acquisition of EBS d.a.c.
2. Other capital reserves represent transfers from retained earnings in accordance with relevant legislation.
For details regarding the capital contribution reserves, refer to accounting policy (w) in note 1.
Merger reserve
2025
2024
\u20ac m
\u20ac m
At beginning and end of year
(3,622)
(3,622)
The following table shows the movement on capital redemption reserves:
Capital redemption reserves
2025
2024
\u20ac m
\u20ac m
At 1 January
255
73
Transfer from ordinary share capital (note 34)
120
182
At 31 December
375
255
", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-657": { "value": "
Earnings per share
The calculation of basic earnings per ordinary shares is based on the profit attributable to ordinary shareholders divided by the weighted average number
of ordinary shares in issue, excluding own shares held. The ordinary shares are included in the weighted average number of shares on a time
apportioned basis.
The diluted earnings per share is based on the profit attributable to ordinary shareholders divided by the weighted average number of ordinary shares in
issue, excluding own shares held, adjusted for the effect of dilutive potential ordinary shares.
There was no material difference in the weighted average number of shares used for basic and diluted earnings per share for 2025 and 2024. Warrants
issued to the Minister of Finance were not included in calculating the diluted earnings per share as they were antidilutive in 2025 (up to the date of
cancellation) and in 2024. Share options issued under the Group's SAYE scheme in 2025 were dilutive, however they did not materially impact the
weighted average number of shares used for the diluted earnings per share calculation for 2025.
The following table shows the profit attributable to ordinary shareholders of the parent:
2025
2024
Profit attributable to ordinary shareholders of the parent
\u20ac m
\u20ac m
Profit attributable to equity holders of the parent
2,141
2,354
Distributions on other equity interests (note 35)
(85)
(80)
Profit attributable to ordinary shareholders of the parent
2,056
2,274
The following table shows the basic and diluted earnings per share:
31 December 2025
31 December 2024
Profit
Number of shares1
Earnings per share
Profit
Number of shares1
Earnings per share
\u20ac m
m
\u20ac cent
\u20ac m
m
\u20ac cent
Basic and diluted
2,056
2,202.9
93.3
2,274
2,459.4
92.5
1. Weighted average number of ordinary shares in issue during the year.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-658": { "value": "
37\u00a0 Offsetting financial assets and financial liabilities
The disclosures set out in the following tables include financial assets and financial liabilities that:
\u2022 Are offset in the Group\u2019s statement of financial position; or
\u2022 Are subject to enforceable master netting arrangements or similar agreements that cover similar financial instruments, irrespective of whether they
are offset in the statement of financial position.
The similar agreements include derivative clearing agreements, global master repurchase agreements and global master securities lending\u00a0 agreements.
Similar financial instruments include derivatives, sales and repurchase agreements, reverse sale and repurchase agreements, and\u00a0securities borrowing
and lending agreements. Financial instruments such as loans and advances and deposits and advances from customers are not included in\u00a0the
following tables unless they are offset in the statement of financial position.
The Group has a number of ISDA Master Agreements (netting agreements) in place which allow it to net the termination values of derivative\u00a0 contracts
upon the occurrence of an event of default with respect to its counterparties. Additionally, the Group has agreements in place which may allow it to net
the termination values of cross currency swaps upon the occurrence of an event of default. The enforcement of netting agreements would
potentially\u00a0reduce the statement of financial position carrying amount of derivative assets and liabilities by \u20ac1,173 million at 31 December 2025\u00a0 (2024:
\u20ac1,385 million).
The Group\u2019s sale and repurchase and reverse sale-and-repurchase transactions and securities borrowing and lending are covered by netting\u00a0
agreements with terms similar to those of ISDA Master Agreements. The ISDA Master Agreements and similar master netting arrangements do not meet
the criteria for offsetting in the statement of financial position where a right of set-off of recognised amounts becomes enforceable only following an
event of default, insolvency or bankruptcy of the\u00a0 Group or the counterparties. Offsetting in the statement of financial position is applied where the
Group has a legally enforceable right to set-off the recognised amounts and intends either to settle on a net basis, or to realise the asset and settle the
liability simultaneously.
The Group provides and accepts collateral in the form of cash and marketable securities in respect of the following transactions:
\u2022 Derivatives;
\u2022 Sale and repurchase agreements;
\u2022 Reverse sale and repurchase agreements; and
\u2022 Securities lending and borrowing.
Collateral is subject to the standard industry terms of Credit Support Annexes (CSAs), which enable the Group to pledge or sell securities received
during the term of the transaction. The collateral must be returned on the maturity of the transaction. The terms also give each counterparty the right to
terminate the related transactions where the counterparty fails to post collateral. The CSAs in place provide financial collateral for derivative contracts,
which refers to cash and non-cash collateral obtained. At 31 December 2025, \u20ac111 million (2024: \u20ac698 million) of cash collateral is included within
financial assets and \u20ac497 million (2024: \u20ac814 million) of cash collateral is included within financial liabilities relating to CSAs.
The following table shows financial assets and financial liabilities subject to offsetting, enforceable master netting arrangements and similar
agreements and those amounts not subject to offsetting at 31 December 2025 and 2024. The effects of over-collateralisation have not been taken into
account in the following table.
37\u00a0 Offsetting financial assets and financial liabilities continued
Amounts subject to enforceable netting arrangements
2025
Gross
amounts of
recognised
financial
assets
Gross
amounts of
recognised
financial
liabilities
offset in the
statement
of financial
position
Net
amounts of
financial
assets
presented
in the
statement
of financial
position
Related amounts not
offset in the statement
of financial position
Amounts not
subject to
enforceable
netting
arrangements
Total
amount of
financial
assets
presented
in the
statement
of financial
position
Financial
instruments
Financial
collateral1
Net
amount
Financial assets
Note
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Derivative financial instruments
15
1,634
\u2014
1,634
(1,173)
(406)
55
7
1,641
Securities financing
Reverse repurchase agreements
18
6,024
(1,572)
4,452
(4,407)
(45)
\u2014
\u2014
4,452
Securities borrowings
18
2,887
\u2014
2,887
(2,887)
\u2014
\u2014
\u2014
2,887
Total
10,545
(1,572)
8,973
(8,467)
(451)
55
7
8,980
Amounts subject to enforceable netting arrangements
2025
Gross
amounts of
recognised
financial
liabilities
Gross
amounts of
recognised
financial
assets offset
in the
statement
of financial
position
Net
amounts of
financial
liabilities
presented
in the
statement
of financial
position
Related amounts not
offset in the statement of
financial position
Amounts not
subject to
enforceable
netting
arrangements
Total
amount of
financial
liabilities
presented
in the
statement
of financial
position
Financial
instruments
Financial
collateral1
Net
amount
Financial liabilities
Note
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Derivative financial instruments
15
1,397
\u2014
1,397
(1,173)
(224)
\u2014
11
1,408
Securities financing
Securities sold under
agreements to repurchase
18
2,254
(1,572)
682
(674)
(8)
\u2014
\u2014
682
Total
3,651
(1,572)
2,079
(1,847)
(232)
\u2014
11
2,090
Amounts subject to enforceable netting arrangements
2024
Gross
amounts of
recognised
financial
assets
Gross
amounts of
recognised
financial
liabilities
offset in the
statement
of financial
position
Net
amounts of
financial
assets
presented
in the
statement of
financial
position
Related amounts not offset\u00a0in
the statement of financial
position
Amounts not
subject to
enforceable
netting
arrangements
Total
amount of
financial
assets
presented
in the
statement
of financial
position
Financial
instruments
Financial
collateral1
Net
amount
Financial assets
Note
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Derivative financial instruments
15
2,134
\u2014
2,134
(1,385)
(251)
498
10
2,144
Securities financing
Reverse repurchase agreements
18
5,215
(1,660)
3,555
(3,538)
(17)
\u2014
\u2014
3,555
Securities borrowings
18
3,088
\u2014
3,088
(3,088)
\u2014
\u2014
\u2014
3,088
Total
10,437
(1,660)
8,777
(8,011)
(268)
498
10
8,787
Amounts subject to enforceable netting arrangements
2024
Gross
amounts of
recognised
financial
liabilities
Gross
amounts of
recognised
financial
assets
offset in the
statement
of financial
position
Net
amounts of
financial
liabilities
presented
in the
statement of
financial
position
Related amounts not offset\u00a0in
the statement of financial
position
Amounts not
subject to
enforceable
netting
arrangements
Total
amount of
financial
liabilities
presented
in the
statement
of financial
position
Financial
instruments
Financial
collateral 1
Net
amount
Financial liabilities
Note
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Derivative financial instruments
15
1,779
\u2014
1,779
(1,385)
(135)
259
28
1,807
Securities financing
Securities sold under
agreements to repurchase
18
1,856
(1,660)
196
(187)
(9)
\u2014
\u2014
196
Total
3,635
(1,660)
1,975
(1,572)
(144)
259
28
2,003
1. Financial collateral of \u20ac406m (2024: \u20ac251m) was received in respect of derivative assets, all of which was cash collateral. Financial collateral of \u20ac224m (2024: \u20ac135m) was placed in respect of
derivative liabilities, including \u20ac20m (2024: \u20ac135m) of cash collateral and \u20ac204m (2024: Nil) of non-cash collateral.", "dimensions": { "concept": "ifrs-full:DisclosureOfOffsettingOfFinancialAssetsAndFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-661": { "value": "
38\u00a0 Contingent liabilities and commitments
The following table gives the nominal or contract amounts of contingent liabilities and commitments:
Contract amount
2025
2024
\u20ac m
\u20ac m
Contingent liabilities1 \u2013 credit related
Guarantees and assets pledged as collateral security:
Guarantees and irrevocable letters of credit
1,182
952
Other contingent liabilities
24
24
1,206
976
Commitments2
Documentary credits and short term trade-related transactions
167
276
Undrawn formal standby facilities, credit lines and other commitments to lend:
Less than 1 year
10,474
10,443
1 year and over
6,392
6,104
17,033
16,823
Total contingent liabilities and commitments
18,239
17,799
1. Contingent liabilities are off-balance sheet products and include guarantees, irrevocable letters of credit and other contingent liability products.
2. A commitment is an off-balance sheet product where there is an agreement to provide an undrawn credit facility.
For details of the geographic concentration of contingent liabilities and commitments and internal credit ratings, see pages 199 and 208 in the Risk
Management section of this report. Provisions for ECLs on loan commitments and financial guarantee contracts are set out in note 33.
Legal proceedings
The\u2008Group, in the course of its business, is frequently involved in litigation cases. However, it is not, nor has been, involved in, nor are there, so far as the
Group is aware, pending or threatened by or against the Group, any legal or arbitration proceedings, including governmental proceedings, which may
have, or have had during the previous twelve months, a material effect on the financial position, profitability or cash flows of the\u2008Group.
TARGET-Ireland \u2013 Gross Settlement System
TARGET-Ireland is a real-time gross settlement system for large volume interbank payments in euro. As part of its participation in TARGET-Ireland, on 16
March 2023 Allied Irish Banks, p.l.c. (AIB) granted a first floating charge in favour of the Central Bank of Ireland (CBI), giving over all present and future
credit balances in AIB\u2019s TARGET-Ireland accounts, securing AIB\u2019s liabilities to the CBI. AIB also has access to intra\u2011day credit in TARGET2-Ireland (now
TARGET-Ireland) in relation to Eurosystem Operations. To support this, on 7 April 2014, AIB granted the CBI a fixed charge over eligible assets held in a
designated collateral account, and a floating charge over other eligible assets.
Without the CBI\u2019s prior written consent, AIB may not create encumbrances over, or dispose of, the charged assets other than in the ordinary course of
business. Financial assets pledged under the first fixed charge are disclosed in note 27.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-660": { "value": "
38\u00a0 Contingent liabilities and commitments
The following table gives the nominal or contract amounts of contingent liabilities and commitments:
Contract amount
2025
2024
\u20ac m
\u20ac m
Contingent liabilities1 \u2013 credit related
Guarantees and assets pledged as collateral security:
Guarantees and irrevocable letters of credit
1,182
952
Other contingent liabilities
24
24
1,206
976
Commitments2
Documentary credits and short term trade-related transactions
167
276
Undrawn formal standby facilities, credit lines and other commitments to lend:
Less than 1 year
10,474
10,443
1 year and over
6,392
6,104
17,033
16,823
Total contingent liabilities and commitments
18,239
17,799
1. Contingent liabilities are off-balance sheet products and include guarantees, irrevocable letters of credit and other contingent liability products.
2. A commitment is an off-balance sheet product where there is an agreement to provide an undrawn credit facility.
For details of the geographic concentration of contingent liabilities and commitments and internal credit ratings, see pages 199 and 208 in the Risk
Management section of this report. Provisions for ECLs on loan commitments and financial guarantee contracts are set out in note 33.
Legal proceedings
The\u2008Group, in the course of its business, is frequently involved in litigation cases. However, it is not, nor has been, involved in, nor are there, so far as the
Group is aware, pending or threatened by or against the Group, any legal or arbitration proceedings, including governmental proceedings, which may
have, or have had during the previous twelve months, a material effect on the financial position, profitability or cash flows of the\u2008Group.
TARGET-Ireland \u2013 Gross Settlement System
TARGET-Ireland is a real-time gross settlement system for large volume interbank payments in euro. As part of its participation in TARGET-Ireland, on 16
March 2023 Allied Irish Banks, p.l.c. (AIB) granted a first floating charge in favour of the Central Bank of Ireland (CBI), giving over all present and future
credit balances in AIB\u2019s TARGET-Ireland accounts, securing AIB\u2019s liabilities to the CBI. AIB also has access to intra\u2011day credit in TARGET2-Ireland (now
TARGET-Ireland) in relation to Eurosystem Operations. To support this, on 7 April 2014, AIB granted the CBI a fixed charge over eligible assets held in a
designated collateral account, and a floating charge over other eligible assets.
Without the CBI\u2019s prior written consent, AIB may not create encumbrances over, or dispose of, the charged assets other than in the ordinary course of
business. Financial assets pledged under the first fixed charge are disclosed in note 27.
", "dimensions": { "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-659": { "value": "
38\u00a0 Contingent liabilities and commitments
The following table gives the nominal or contract amounts of contingent liabilities and commitments:
Contract amount
2025
2024
\u20ac m
\u20ac m
Contingent liabilities1 \u2013 credit related
Guarantees and assets pledged as collateral security:
Guarantees and irrevocable letters of credit
1,182
952
Other contingent liabilities
24
24
1,206
976
Commitments2
Documentary credits and short term trade-related transactions
167
276
Undrawn formal standby facilities, credit lines and other commitments to lend:
Less than 1 year
10,474
10,443
1 year and over
6,392
6,104
17,033
16,823
Total contingent liabilities and commitments
18,239
17,799
1. Contingent liabilities are off-balance sheet products and include guarantees, irrevocable letters of credit and other contingent liability products.
2. A commitment is an off-balance sheet product where there is an agreement to provide an undrawn credit facility.
For details of the geographic concentration of contingent liabilities and commitments and internal credit ratings, see pages 199 and 208 in the Risk
Management section of this report. Provisions for ECLs on loan commitments and financial guarantee contracts are set out in note 33.
Legal proceedings
The\u2008Group, in the course of its business, is frequently involved in litigation cases. However, it is not, nor has been, involved in, nor are there, so far as the
Group is aware, pending or threatened by or against the Group, any legal or arbitration proceedings, including governmental proceedings, which may
have, or have had during the previous twelve months, a material effect on the financial position, profitability or cash flows of the\u2008Group.
TARGET-Ireland \u2013 Gross Settlement System
TARGET-Ireland is a real-time gross settlement system for large volume interbank payments in euro. As part of its participation in TARGET-Ireland, on 16
March 2023 Allied Irish Banks, p.l.c. (AIB) granted a first floating charge in favour of the Central Bank of Ireland (CBI), giving over all present and future
credit balances in AIB\u2019s TARGET-Ireland accounts, securing AIB\u2019s liabilities to the CBI. AIB also has access to intra\u2011day credit in TARGET2-Ireland (now
TARGET-Ireland) in relation to Eurosystem Operations. To support this, on 7 April 2014, AIB granted the CBI a fixed charge over eligible assets held in a
designated collateral account, and a floating charge over other eligible assets.
Without the CBI\u2019s prior written consent, AIB may not create encumbrances over, or dispose of, the charged assets other than in the ordinary course of
business. Financial assets pledged under the first fixed charge are disclosed in note 27.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-662": { "value": "
39\u00a0 Subsidiaries and structured entities
The material Group subsidiary companies at 31 December 2025 and 2024 are:
Name of company
Principal activity
Place of
incorporation
Registered
Office
Allied Irish Banks, p.l.c.
A direct subsidiary of AIB Group plc and
the\u00a0principal operating company of the Group and
holds the majority of the subsidiaries within\u00a0the
Group. Its activities include banking and financial
services \u2013 a licensed bank
Ireland
10 Molesworth Street,
Dublin 2,
Ireland.
AIB Mortgage Bank Unlimited Company
Issue of Irish residential mortgages and
mortgage covered securities \u2013 a licensed bank
Ireland
10 Molesworth Street,
Dublin 2,
Ireland.
EBS d.a.c.
Mortgages and savings \u2013 a licensed bank
Ireland
10 Molesworth Street,
Dublin 2,
Ireland.
AIB Group (UK) p.l.c. trading as Allied Irish Bank (GB)
in Great Britain and AIB (NI) in Northern Ireland
Banking and financial services \u2013 a licensed bank
Northern Ireland
92 Ann Street,
Belfast BT1 3HH.
The proportion of ownership interest and voting power held by AIB Group plc in Allied Irish Banks, p.l.c. is 100% of the ordinary share capital. All
subsidiaries of Allied Irish Banks, p.l.c., being the immediate subsidiary of AIB Group plc, are wholly owned apart from Augmentum Limited
(Augmentum), in which there are non-controlling interests. Practically all subsidiaries in the Group are involved in the provision of financial services or
ancillary services.
Significant restrictions
Each of the licensed banks listed above are required by its respective financial regulator to maintain capital ratios above a\u00a0certain minimum level. These
minimum ratios restrict the payment of dividend by the subsidiary and, where the ratios fall below the minimum requirement, will require the parent
company to inject capital to make up the shortfall.
Consolidated structured entities
The Group considers itself a sponsor of a structured entity when it facilitates the establishment of the structured entity. A structured entity is
consolidated in the financial statements when the substance of the relationship between the Group and the structured entity indicates that the
structured entity is controlled by the entity and meets the criteria set out in IFRS 10.
(i) Consolidated structured entities used for funding activities
The Group is a sponsor for a number of structured entities which were established in order to generate funding for the Group\u2019s lending activities. The
following structured entities, which are used for this activity, are consolidated by the Group:
Burlington Mortgages No. 1 DAC
In 2020, the Group securitised \u20ac4 billion of its residential mortgage portfolio held in two of its subsidiaries, EBS d.a.c. and Haven Mortgages Limited.
These mortgages were transferred to a securitisation vehicle, Burlington Mortgages No. 1 DAC (Burlington 1). In order to fund the acquired mortgages,
Burlington 1 issued eleven classes of notes to EBS d.a.c. and Haven in the same proportion as the mortgages securitised. The\u00a0transferred mortgages
have not been derecognised as the Group retains substantially all the risks and rewards of ownership and continue to\u00a0be reported in the Group\u2019s
financial statements. Burlington 1 is consolidated into the Group\u2019s financial statements with all the notes being eliminated on consolidation. At 31
December 2025, the carrying amount of the transferred financial assets which the Group continues to recognise is \u20ac1.9 billion (2024: \u20ac2.2 billion) (fair
value \u20ac2.0 billion (2024: \u20ac2.2 billion)) and the carrying amount of the associated liabilities is\u00a0Nil\u00a0(2024: Nil).
Burlington Mortgages No. 2 DAC
In 2023, the Group securitised c. \u20ac5 billion of its residential mortgage portfolio held in two of its subsidiaries, EBS d.a.c. and Haven Mortgages Limited.
These mortgages were transferred to a securitisation vehicle, Burlington Mortgages No. 2 DAC (Burlington 2). In order to fund the acquired mortgages,
Burlington 2 issued seven classes of notes to EBS d.a.c. and Haven in the same proportion as the securitised mortgages. The transferred mortgages
have not been derecognised as the Group retains substantially all the risks and rewards of ownership and continue to\u00a0be reported in the Group\u2019s
financial statements. Burlington 2 is consolidated into the Group\u2019s financial statements with all the notes being eliminated on consolidation. At 31
December 2025, the carrying amount of the transferred financial assets which the Group continues to recognise is \u20ac4.5 billion (fair value \u20ac4.7 billion)
(2024: \u20ac5.0 billion (fair value \u20ac4.9 billion)) and the carrying amount of the associated liabilities is\u00a0Nil\u00a0(2024: Nil).
(ii) Consolidated structured entity used for funding of the deficit in the UK pension scheme
The Group is a sponsor for AIB PFP Scottish Limited Partnership (SLP) which was established to fund future deficit payments of the UK scheme. The
general partner in the partnership, AIB PFP (General Partner) Limited, which is an indirect subsidiary of Allied Irish Banks, p.l.c., has controlling power
over the partnership. In addition, the pension scheme has a priority right to cash flows from the partnership, up to the SLP\u2019s maximum potential liability
limit, and any risks and rewards thereafter are expected to be borne by the Group.
39\u00a0 Subsidiaries and structured entities continued
(iii) Consolidated structured entity used for credit risk transfer transactions
The Group has entered into transactions to transfer a portion of credit risk on a reference portfolio of financial assets. The funded protection in respect
of these transactions is held with Setanta Finance 2024 Designated Activity Company (Setanta). No assets or liabilities were transferred to Setanta
under the terms of these transactions. The transactions have cash collateralised on the exposures through the issue of credit linked notes to third party
investors. Further details on these transactions are set out in note 29 and page 185 in the Risk Management section of this report.
There are no contractual arrangements that could require AIB Group plc or its subsidiaries to provide financial support to the consolidated structured
entities listed above. During the year, neither AIB Group plc nor any of its subsidiaries provided financial support to a consolidated structured entity and
there is no current intention to provide financial support.
Unconsolidated structured entities
The Group acts as a fund or investment manager for a number of unconsolidated structured entities for which it receives investment or fund
management fees. The Group acts as sponsor of these entities. The Group has no units within these funds. Therefore the carrying amount of assets and
liabilities in relation to these entities in the Group\u2019s statement of financial position is Nil (2024: Nil).
The Group\u2019s maximum exposure to loss is equal to the value of outstanding fees owed from these entities of \u20ac1 million at 31 December 2025 (2024: Nil).
These entities are financed by investors in the entities. During the year the Group has not provided any non-contractual financial or other support to
these entities and has no current intention of providing any financial or other support.
Non-controlling interests in subsidiary undertaking
On 31 October 2019, Augmentum of which 75% is owned by the Group and 25% by a non-controlling interest, First Data Global Services Limited (part of
First Data Corporation which is owned by Fiserv Inc.), acquired 97.93% of the equity share capital and voting rights of Semeral Limited (Semeral), the
holding company for Payzone Ireland Limited (Payzone). Semeral/Payzone place of business is based in 4 Heather Road, Sandyford Industrial Estate,
Dublin 18", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-663": { "value": "
Non-controlling interests in subsidiary undertaking
On 31 October 2019, Augmentum of which 75% is owned by the Group and 25% by a non-controlling interest, First Data Global Services Limited (part of
First Data Corporation which is owned by Fiserv Inc.), acquired 97.93% of the equity share capital and voting rights of Semeral Limited (Semeral), the
holding company for Payzone Ireland Limited (Payzone). Semeral/Payzone place of business is based in 4 Heather Road, Sandyford Industrial Estate,
Dublin 18.
", "dimensions": { "concept": "ifrs-full:DisclosureOfNoncontrollingInterestsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-664": { "value": "
40\u00a0 Off-balance sheet arrangements and transferred financial assets
Securitisations
The Group utilises securitisations primarily to support the following business objectives:
\u2022 As an investor, the Group has primarily invested in securitisations issued by other credit institutions as part of the management of its interest rate and
liquidity risks and has also invested in securitisations to pursue transactions that offer appropriate risk-adjusted return opportunities.
\u2022 As an originator, to support the funding and credit risk management activities of the Group.
The Group controls certain structured entities which were set up to support its funding and credit risk management activities as well as the funding of
certain Group pension schemes. Details of these structured entities are set out in note 39.
Transfer of financial assets
The Group enters into transactions in the normal course of business in which it transfers previously recognised financial assets. Transferred financial
assets may, in accordance with IFRS 9:
(i) Continue to be recognised in their entirety; or
(ii) Be derecognised in their entirety but the Group retains some continuing involvement.
The most common transactions where the transferred assets are not derecognised in their entirety are securities sold under an agreement to
repurchase and the issuance of covered bonds.
(i) Transferred financial assets not derecognised in their entirety
Securities sold under agreements to repurchase and securities lending
The Group enters into transactions where it sells a financial asset to another party, with an obligation to repurchase it at a fixed price on a certain later
date. The Group continues to recognise the financial assets in full in the statement of financial position as it retains substantially all the risks and
rewards of ownership. The Group\u2019s sale and repurchase agreements are with banks and customers. The obligation to pay the repurchase price is
recognised within securities financing (note 18). As the Group sells the contractual rights to the cash flows of the financial assets, it does not have the
ability to use or pledge the transferred assets during the term of the sale and repurchase agreement. The Group remains exposed to credit risk and
interest rate risk on the financial assets sold. The obligation arising as a result of sale and repurchase agreements together with the carrying value of the
financial assets pledged are set out in the following table.
The Group enters into securities lending in the form of collateral swap agreements with other parties. The Group continues to recognise the financial
assets in full in the statement of financial position as it retains substantially all the risks and rewards of ownership. As a result of these transactions, the
Group is unable to use, sell or pledge the transferred assets for the duration of the transaction. A fee is generated for the Group under this transaction.
40\u00a0 Off-balance sheet arrangements and transferred financial assets continued
Issuance of covered bonds
Covered bonds, which the Group issues, are debt securities backed by cash flows from mortgages for the purpose of financing loans secured on
residential property through its wholly owned subsidiary, AIB Mortgage Bank Unlimited Company. The Group retains all the risks and rewards of these
mortgage loans, including credit risk and interest rate risk, and therefore, the loans continue to be recognised on the Group\u2019s statement of\u00a0financial
position with the related covered bonds held by external investors included within debt securities in issue (note 29). As the Group segregates the assets
which back these debt securities into 'cover asset pools' it does not have the ability to otherwise use such segregated financial assets during the term of
these debt securities. However, of the total debt securities of this type issued amounting to \u20ac12.07 billion (2024: \u20ac10.6 billion), AIB Group companies
hold \u20ac12.05 billion (2024: \u20ac10.58 billion) which are eliminated on consolidation.
The following table summarises as at 31 December 2025 and 2024, the carrying value and fair value of financial assets which did not qualify for
derecognition together with their associated financial liabilities.
2025
Carrying
amount of
transferred
assets
Carrying
amount of
associated
liabilities
Fair
value of
transferred
assets
Fair
value of
associated
liabilities
Net fair
value
position
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Securities sold under agreements to repurchase/similar products
3,672
2
682
1
3,675
682
2,993
Covered bond programmes
Residential mortgage backed
33
3
26
4
34
27
7
2024
Carrying
amount of
transferred
assets
Carrying
amount of
associated
liabilities
Fair
value of
transferred
assets
Fair
value of
associated
liabilities
Net fair
value
position
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Securities sold under agreements to repurchase/similar products
2,822
1,2
196
1
2,821
196
2,625
Covered bond programmes
Residential mortgage backed
36
3
27
4
35
28
7
1. See note 18.
2. Includes \u20ac2,995m of assets pledged in relation to securities lending arrangements (2024: \u20ac2,630m).
3. The asset pools of \u20ac16bn (2024: \u20ac15bn) in the covered bond programme have been apportioned on a pro-rata basis in relation to the value of bonds held by\u00a0external investors and those held by the
Group companies. The \u20ac33m (2024: \u20ac36m) above refers to those assets apportioned to external investors.
4. Included in bonds and other medium term notes issued by subsidiaries (note 29).
(ii) Transferred financial assets derecognised in their entirety but the Group retains some continuing involvement
The Group has no material continuing involvement in transferred financial assets where it retains any of the risks and rewards of ownership of the
transferred financial assets.
41\u00a0 Classification and measurement of financial assets and financial liabilities
Financial assets and financial liabilities are measured on an ongoing basis either at fair value or at amortised cost. The accounting policy for financial
assets in note 1 (j) and financial liabilities in note 1 (k), describes how the classes of financial instruments are measured, and how income and
expenses, including fair value gains and losses, are recognised. The following table analyses the carrying amounts of the financial assets and financial
liabilities by measurement category and by statement of financial position heading at 31 December 2025 and 2024.
2025
At fair value through
profit or loss
At fair value through other
comprehensive income
At amortised
cost
Total
Mandatorily
Debt
investments
Hedging
derivatives
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Financial assets
Cash and balances at central banks
\u2014
\u2014
\u2014
40,571
1
40,571
Trading portfolio financial assets
286
\u2014
\u2014
\u2014
286
Derivative financial instruments
1,257
2
\u2014
384
\u2014
1,641
Loans and advances to banks
\u2014
\u2014
\u2014
601
601
Loans and advances to customers
84
\u2014
\u2014
71,116
71,200
Securities financing
\u2014
\u2014
\u2014
7,339
7,339
Investment securities
304
16,201
\u2014
5,043
21,548
Other financial assets
26
\u2014
\u2014
1,012
1,038
Total
1,957
16,201
384
125,682
144,224
Financial liabilities3
Deposits and advances from banks
\u2014
\u2014
\u2014
156
156
Deposits and advances from customers
\u2014
\u2014
\u2014
117,671
117,671
Securities financing
\u2014
\u2014
\u2014
682
682
Trading portfolio financial liabilities
525
\u2014
\u2014
\u2014
525
Derivative financial instruments
658
4
\u2014
750
\u2014
1,408
Debt securities in issue
\u2014
\u2014
\u2014
8,183
8,183
Tier 2 subordinated liabilities and other capital instruments
\u2014
\u2014
\u2014
2,626
2,626
Other financial liabilities5
\u2014
\u2014
\u2014
1,661
1,661
Total
1,183
\u2014
750
130,979
132,912
2024
At fair value through
profit or loss
At fair value through other
comprehensive income
At amortised
cost
Total
Mandatorily
Debt
investments
Hedging
derivatives
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Financial assets
Cash and balances at central banks
\u2014
\u2014
\u2014
37,315
1
37,315
Trading portfolio financial assets
136
\u2014
\u2014
\u2014
136
Derivative financial instruments
1,480
2
\u2014
664
\u2014
2,144
Loans and advances to banks
\u2014
\u2014
\u2014
1,321
1,321
Loans and advances to customers
64
\u2014
\u2014
69,825
69,889
Securities financing
\u2014
\u2014
\u2014
6,643
6,643
Investment securities
297
13,568
\u2014
4,803
18,668
Other financial assets
\u2014
\u2014
\u2014
894
894
Total
1,977
13,568
664
120,801
137,010
Financial liabilities3
Deposits and advances from banks
\u2014
\u2014
\u2014
836
836
Deposits and advances from customers
\u2014
\u2014
\u2014
109,883
109,883
Securities financing
\u2014
\u2014
\u2014
196
196
Trading portfolio financial liabilities
262
\u2014
\u2014
\u2014
262
Derivative financial instruments
824
4
\u2014
983
\u2014
1,807
Debt securities in issue
\u2014
\u2014
\u2014
8,832
8,832
Tier 2 subordinated liabilities and other capital instruments
\u2014
\u2014
\u2014
1,627
1,627
Other financial liabilities5
\u2014
\u2014
\u2014
1,792
1,792
Total
1,086
\u2014
983
123,166
125,235
1. Includes cash on hand \u20ac651m (2024: \u20ac664m).
2. Held for trading \u20ac348m and fair value hedges \u20ac909m (2024: \u20ac425m and \u20ac1,055m).
3. At 31 December 2025, the Group has also recognised an ECL allowance of \u20ac48m (2024: \u20ac57m) relating to financial guarantees and loan commitments which is reported within provisions for liabilities
and commitments.
4. Held for trading \u20ac319m and fair value hedges \u20ac339m (2024: \u20ac461m and \u20ac363m).
5. Includes a debit of \u20ac175m (2024: credit of \u20ac64m) of fair value changes of hedged items in portfolio hedges of interest rate risk.\u00a0
42\u00a0 Fair value of financial instruments
The Group\u2019s accounting policy for the \u2018determination of the fair value of financial instruments\u2019 is set out in note 1 accounting policy (m).
All valuations are carried out within the Finance function and valuation methodologies are validated by the independent Risk function within the Group.
Readers of these financial statements are advised to use caution when using the data in the following tables to evaluate the Group\u2019s financial position or
to make comparisons with other institutions. Fair value information is not provided for items that do not meet the definition of\u00a0a\u00a0financial instrument.
Methodologies used for the calculation of fair value
The methods used for calculation of fair value are as follows:
Financial instruments measured at fair value in the financial statements
(i) Trading portfolio financial instruments
The fair value of trading debt securities, together with quoted equity shares, is based on quoted prices or bid/offer quotations sourced from external
securities dealers, where these are available on an active market. Where securities and equities are traded on an exchange, the fair value is based on
prices from the exchange.
(ii) Derivative financial instruments
Where derivatives are traded on an exchange, the fair value is based on prices from the exchange. The fair value of over-the-counter derivative financial
instruments is estimated based on standard market discounting and valuation methodologies which use reliable observable inputs including yield
curves and market rates. Where there is uncertainty around the inputs to a derivative\u2019s valuation model, the fair value is estimated using inputs which
provide the Group\u2019s view of the most likely outcome in a disposal transaction between willing counterparties in a functioning market. Where an
unobservable input is material to the outcome of the valuation, a range of potential outcomes from favourable to unfavourable is estimated.
Counterparty valuation adjustment (CVA) and Funding valuation adjustment (FVA) are applied to all uncollateralised over-the-counter derivatives. The
combination of CVA and FVA is referred to as XVA. Where XVA valuation adjustments have been applied to a derivative instrument, the instrument is
classified as Level 3 in the fair value hierarchy where 10% of the instrument\u2019s valuation (including the interest accrual) is represented by XVA.
CVA is calculated as: Expected positive exposure (EPE) multiplied by probability of default (PD) multiplied by loss given default (LGD). EPE\u00a0profiles are
generated at a counterparty netting set through simulation. PDs are derived from market based credit default swaps (CDS) information. As most
counterparties do not have a quoted CDS, PDs are derived by mapping each counterparty to an index CDS credit grade. LGDs are based on the specific
circumstances of the counterparty and take into account valuation of offsetting security, where applicable. For smaller exposures where security
valuations are not individually assessed, an LGD of 60% is applied (2024: 60%).
FVA is calculated as: Expected exposure (EE) multiplied by funding spread (FS) multiplied by counterpart survival probability (1-PD). EE profiles (net of
expected positive and negative exposures) are generated at a counterparty netting set through simulation. Funding spreads used are an average implied
by CDSs for the Group\u2019s most active external derivative counterparties. The rationale in applying these spreads is to best estimate the FVA which a
counterparty would apply in a transaction to close out the Group\u2019s existing positions.
Within t he range of estimates and fair value sensitivity measurements, a favourable and an adverse scenario have been selected for PDs and LGDs for
CVA. The favourable/adverse scenario for customer PDs are (i) a single rating upgrade and (ii) a single rating downgrade, respectively. Customer LGDs
are shifted according to estimates of improvement in value of security compared with potential derivatives market values. Within the combination of
LGD and PD, both are shifted together yielding positive and negative valuations which are disclosed as potential alternative valuations. See 'Significant
unobservable inputs' within this note. For FVA, an adverse scenario is the use of the bond yields of the Group\u2019s most active derivative counterparties
while a favourable scenario is an upgrade in the CDS of the reference entities used to derive funding spreads.
(iii) Virtual corporate power purchase agreement
The Group has entered into a virtual corporate power purchase agreement (VPPA) associated with the sourcing of solar electricity for the Group from
two farms in Co. Wexford. The VPPA hedges the volatility in electricity prices guaranteeing a forward electricity price which is subject to inflation changes
only. This VPPA meets the definition of a derivative. The fair value of the virtual corporate power purchase agreement is estimated using discounted cash
flows applying market rates when available and rates offered by other data providers, in particular for unobservable forward Irish electricity solar pricing
curves.
(iv) Loans and advances to customers
The Group provides lending facilities of varying rates and maturities to corporate and personal customers. Valuation techniques are used in estimating
the fair value of loans, primarily using discounted cash flows and applying market rates where practicable and taking into account market risk and the
changes in credit quality of its borrowers.
The majority of loans and advances to customers are held at amortised cost, however the Group has a small number of loans and advances which are
required to be measured at FVTPL having failed the SPPI test. The valuation techniques used apply equally to those held at FVTPL and those held at
amortised cost. A key assumption for determining the fair value of loans and advances is that the carrying amount of variable rate loans (excluding
mortgage products) approximates to market value. For fixed rate loans, the fair value is calculated by discounting expected cash flows using discount
rates that reflect the interest rate risk in that portfolio.
The fair value of mortgage products, including tracker mortgages, is calculated by discounting expected cash flows using discount rates that reflect the
interest rate/credit risk in the portfolio.
42\u00a0 Fair value of financial instruments continued
Financial instruments measured at fair value in the financial statements continued
(v) Investment securities
The fair value of investment securities has been estimated based on expected sale proceeds. The expected sale proceeds are based on bid prices which
have been analysed and compared across multiple sources for reliability. Where bid prices are unavailable, fair values are estimated by valuation
techniques using observable market data for similar instruments. Where there is no market data for a directly comparable instrument, management
judgement on an appropriate credit spread to similar or related instruments with market data available is used within the valuation technique. This is
supported by cross referencing other similar or related instruments.
(vi) Other financial assets
The fair value of the deferred contingent consideration receivable arising from the disposal of AIB Merchant Services is calculated using an expected
discounted cashflow approach. The amount of consideration receivable is dependent on the number of referrals that the Group makes to AIB Merchant
Services over a ten-year period. The referral rates are unobservable and have been estimated based on historical referral rates.
Financial instruments not measured at fair value but with fair value information presented separately in the notes to the
financial\u00a0statements
(i) Loans and advances to banks
The fair value of loans and advances to banks is estimated using discounted cash flows applying either market rates, where practicable, or rates
currently offered by other financial institutions for placings with similar characteristics.
(ii) Loans and advances to customers at amortised cost
See methodology above under the heading (iv) Loans and advances to customers.
(iii) Securities financing
The fair value of securities financing assets and liabilities approximate their carrying amount as these balances are generally short-dated and
fully\u00a0collateralised.
(iv) Deposits and advances from banks and deposits and advances from customers
The fair value of current accounts and deposit liabilities which are repayable on demand, or which re-price frequently, approximates to their book\u00a0value.
The fair value of all other deposits and other borrowings is estimated using discounted cash flows and applying applicable market rates as appropriate.
(v)\u00a0 Debt securities in issue and tier 2 subordinated liabilities and other capital instruments
The estimated fair value of debt securities in issue and tier 2 subordinated liabilities and other capital instruments, is based on quoted prices where
available, or where these are unavailable, are estimated using valuation techniques using observable market data for similar instruments. Where\u00a0there is
no market data for a directly comparable instrument, management judgement, on an appropriate credit spread to similar or related\u00a0instruments with
market data available, is used within the valuation technique. This is supported by cross-referencing other similar or related\u00a0instruments.
(vi) Other financial assets and other financial liabilities
This caption includes accrued interest receivable and payable and other receivables (including amounts awaiting settlement and accounts payable).
The carrying amount is considered representative of fair value.
(vii) Commitments pertaining to credit-related instruments
Details of the various credit-related commitments and other off-balance sheet financial guarantees entered into by the Group are included in note\u00a038.
The ECL is considered a reasonable approximation of fair value of these credit-related financial instruments.
42\u00a0 Fair value of financial instruments continued
The table below sets out the carrying amount and fair value of financial instruments across the three levels of the fair value hierarchy at 31\u00a0December
2025 and 2024:
2025
2024
Carrying
amount
Fair Value
Carrying
amount
Fair Value
Fair value hierarchy
Fair value hierarchy
Level 1
Level 2
Level 3
Total
Level 1
Level 2
Level 3
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Financial assets measured at fair value
Trading portfolio financial assets
286
286
\u2014
\u2014
286
136
136
\u2014
\u2014
136
Derivative financial instruments:
Interest rate derivatives
1,582
\u2014
1,564
18
1,582
2,109
\u2014
2,020
89
2,109
Exchange rate derivatives
59
\u2014
59
\u2014
59
35
\u2014
35
\u2014
35
Loans and advances to customers at FVTPL
84
\u2014
\u2014
84
84
64
\u2014
\u2014
64
64
Investment debt securities at FVOCI
16,201
16,094
107
\u2014
16,201
13,568
13,468
100
\u2014
13,568
Equity investments at FVTPL
304
1
\u2014
303
304
297
1
\u2014
296
297
Other financial assets
26
\u2014
\u2014
26
26
\u2014
\u2014
\u2014
\u2014
\u2014
18,542
16,381
1,730
431
18,542
16,209
13,605
2,155
449
16,209
Financial assets not measured at fair value
Cash and balances at central banks1
40,571
651
39,920
\u2014
40,571
37,315
664
36,651
\u2014
37,315
Loans and advances to banks
601
\u2014
229
372
601
1,321
\u2014
241
1,080
1,321
Loans and advances to customers:
Mortgages2,3
37,372
\u2014
\u2014
38,614
38,614
36,722
\u2014
\u2014
35,832
35,832
Non-mortgages3
33,653
\u2014
\u2014
33,612
33,612
33,053
\u2014
\u2014
32,993
32,993
Cash collateral advanced to customers3
91
\u2014
\u2014
91
91
50
\u2014
\u2014
50
50
Securities financing
7,339
\u2014
\u2014
7,339
7,339
6,643
\u2014
\u2014
6,643
6,643
Investment debt securities measured at
amortised\u00a0cost
5,043
2,675
\u2014
2,382
5,057
4,803
\u2014
2,633
\u2014
2,168
4,801
Other financial assets
1,012
\u2014
\u2014
1,012
1,012
894
\u2014
\u2014
894
894
125,682
3,326
40,149
83,422
126,897
120,801
3,297
36,892
79,660
119,849
Financial liabilities measured at fair value
Trading portfolio financial liabilities
525
525
\u2014
\u2014
525
262
262
\u2014
\u2014
262
Derivative financial instruments:
Interest rate derivatives
1,366
1
1,347
18
1,366
1,689
\u2014
1,391
298
1,689
Exchange rate derivatives
38
\u2014
38
\u2014
38
112
\u2014
112
\u2014
112
Equity derivatives
1
\u2014
1
\u2014
1
\u2014
\u2014
\u2014
\u2014
\u2014
Credit derivatives
1
\u2014
1
\u2014
1
3
\u2014
3
\u2014
3
Virtual corporate power purchase agreement
2
\u2014
\u2014
2
2
3
\u2014
\u2014
3
3
1,933
526
1,387
20
1,933
2,069
262
1,506
301
2,069
Financial liabilities not measured at fair value
Deposits and advances from banks
156
\u2014
\u2014
156
156
836
\u2014
6
830
836
Deposits and advances from customers:
Current accounts3
64,871
\u2014
\u2014
64,871
64,871
62,657
\u2014
\u2014
62,657
62,657
Demand deposits3
32,392
\u2014
\u2014
32,392
32,392
31,126
\u2014
\u2014
31,126
31,126
Time deposits3
19,976
\u2014
\u2014
20,000
20,000
16,033
\u2014
\u2014
16,083
16,083
Cash collateral advanced from customers3
432
\u2014
\u2014
432
432
67
\u2014
\u2014
67
67
Securities financing
682
\u2014
\u2014
682
682
196
\u2014
\u2014
196
196
Debt securities in issue
8,183
7,394
\u2014
1,011
8,405
8,832
8,074
\u2014
957
9,031
Tier 2 subordinated liabilities and other capital
instruments
2,626
2,661
\u2014
\u2014
2,661
1,627
1,662
\u2014
\u2014
1,662
Other financial liabilities4
1,661
\u2014
\u2014
1,661
1,661
1,792
\u2014
\u2014
1,792
1,792
Loan commitments and other credit related
commitments
38
\u2014
\u2014
38
38
44
\u2014
\u2014
44
44
Financial guarantees
10
\u2014
\u2014
10
10
13
\u2014
\u2014
13
13
131,027
10,055
\u2014
121,253
131,308
123,223
9,736
6
113,765
123,507
1. Includes cash on hand of \u20ac651m (2024: \u20ac664m).
2. Includes residential and commercial mortgages..
3. Refer to note 1 (c) for further information about the change in presentation to the financial statements.
4. Includes a debit of \u20ac175m (2024: credit of \u20ac64m) of fair value changes of hedged items in portfolio hedges of interest rate risk.\u00a0
42\u00a0 Fair value of financial instruments continued
Significant transfers between Level 1 and Level 2 of the fair value hierarchy
There were no significant transfers between Level 1 and Level 2 of the fair value hierarchy for the years ended 31 December 2025 and\u00a02024.
Reconciliation of balances in Level 3 of the fair value hierarchy
The following table shows (i) a reconciliation from the opening balances to the closing balances for fair value measurements in Level 3 of the fair\u00a0value
hierarchy and (ii) total unrealised gains or losses included in profit or loss that is attributable to the assets and liabilities categorised as\u00a0Level 3 in the fair
value hierarchy at the end of the year.
2025
Financial assets
Financial liabilities
Derivative
s
Loans and
advances
at FVTPL
Equities
at FVTPL
Other
financial
assets
Total
Derivatives
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Movement in Level 3 assets and liabilities
At 1 January 2025
89
64
296
\u2014
449
301
301
Transfers into/(out of) Level 31,2
(27)
\u2014
\u2014
\u2014
(27)
(244)
(244)
Total gains or (losses) in:
Profit or loss:
Net trading income \u2013 losses
(44)
\u2014
\u2014
\u2014
(44)
(37)
(37)
Net change in FVTPL
\u2014
11
32
3
46
\u2014
\u2014
(44)
11
32
3
2
(37)
(37)
Purchases/additions
\u2014
22
45
23
90
\u2014
\u2014
Sales/disposals/redemptions
\u2014
\u2014
(70)
\u2014
(70)
\u2014
\u2014
Cash received: Principal
\u2014
(13)
\u2014
\u2014
(13)
\u2014
\u2014
At 31 December 2025
18
84
303
26
431
20
20
Total unrealised gains or (losses) included in profit or loss for
assets and liabilities classified as Level 3 at the end of the year
Net trading income \u2013 (losses)/income
(5)
\u2014
\u2014
\u2014
(5)
4
4
Gains on equity investments at FVTPL
\u2014
\u2014
19
\u2014
19
\u2014
\u2014
(Losses)/gains on financial assets at FVTPL
\u2014
(3)
\u2014
3
\u2014
\u2014
\u2014
(5)
(3)
19
3
14
4
4
2024
Financial assets
Financial liabilities
Derivatives
Loans and
advances at
FVTPL
Equities at
FVTPL
Other
financial
assets
Total
Derivatives
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Movement in Level 3 assets and liabilities
At 1 January 2024
129
42
340
\u2014
511
307
307
Transfers into/(out of) Level 31
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Total gains or (losses) in:
Profit or loss:
Net trading income \u2013 losses
(40)
\u2014
\u2014
\u2014
(40)
(6)
(6)
Net change in FVTPL
\u2014
11
76
\u2014
87
\u2014
\u2014
(40)
11
76
\u2014
47
(6)
(6)
Purchases/additions
\u2014
26
46
\u2014
72
\u2014
\u2014
Sales/disposals
\u2014
\u2014
(166)
\u2014
(166)
\u2014
\u2014
Cash received: Principal
\u2014
(15)
\u2014
\u2014
(15)
\u2014
\u2014
At 31 December 2024
89
64
296
\u2014
449
301
301
Total unrealised gains or (losses) included in profit or loss for
assets\u00a0and liabilities classified as Level 3 at the end of the year
Net trading income \u2013 losses
(15)
\u2014
\u2014
\u2014
(15)
(35)
(35)
Gains on equity investments at FVTPL
\u2014
\u2014
35
\u2014
35
\u2014
\u2014
Losses on loans and advances at FVTPL
\u2014
(3)
\u2014
\u2014
(3)
\u2014
\u2014
(15)
(3)
35
\u2014
17
(35)
(35)
1. Transfers between levels of the fair value hierarchy are recognised at the end of the reporting period during which the change occurred.
2. In 2025, \u20ac27m derivative assets and \u20ac244m derivative liabilities were reclassified to Level 2 following a reassessment of the threshold for determining whether an unobservable input is significant to
the classification of a fair value measurement within the hierarchy.
42\u00a0 Fair value of financial instruments continued
Significant unobservable inputs
The following table sets out information about significant unobservable inputs used in measuring financial instruments categorised as Level 3 in the fair
value hierarchy:
Fair value
Range of estimates
Financial instrument
2025
\u20ac m
2024
\u20ac m
Valuation
technique
Significant
unobservable input
31 December
2025
31 December
2024
Derivative financial instruments
Interest rate derivatives
Asset
18
89
CVA
LGD
35% \u2013 51%
38% \u2013 56%
Liability
18
298
(Base 41%)
(Base 46%)
PD
0.3% \u2013 2.2%
0.4% \u2013 1.8%
(Base 0.7% 1-year PD)
(Base 0.8% 1-year PD)
FVA
Funding spreads
(0.1%) \u2013 0.2%
(0.2%) \u2013 0.3%
Virtual corporate power purchase agreement
Liability
2
3
Discounted Expected
Future Cash flows
Irish electricity solar
capture prices
(20%) \u2013 10%
(10%) \u2013 20%
Equity investments at FVTPL
Visa Inc. Series B Preferred Stock
Asset
14
16
Quoted market price
(to which a discount
has been applied)
Final conversion
rate
0% \u2013 90%
0% \u2013 90%
Other financial assets
Deferred consideration
Asset
26
\u2014
Discounted Expected
Future Cash flows
Referral rate
70% \u2013 90%
\u2014
Derivative financial instruments
Interest rate derivatives
Derivatives (assets and liabilities) include negative XVA valuation adjustments amounting to net \u20ac1 million (2024: \u20ac8 million). The sensitivity to
unobservable inputs for this XVA valuation adjustment at 31 December 2025 ranges from (i) negative \u20ac1 million to Nil for CVA (2024: negative \u20ac5 million
to positive \u20ac3 million) and (ii) Nil for FVA (2024: negative \u20ac1 million to positive \u20ac1 million).
Virtual corporate power purchase agreement
The fair value sensitivity to unobservable forward Irish electricity solar capture prices ranges from negative \u20ac5 million to positive \u20ac2 million (2024:
negative \u20ac4 million to positive \u20ac2 million).
Equity investments at FVTPL
Visa Inc. Series B Preferred Stock
The Group received Series B Preferred Stock in Visa Inc. as part consideration for its holding of shares in Visa Europe. The preferred stock will be
convertible into Class A Common Stock of Visa Inc. over time. The remaining conversion is subject to certain Visa Europe litigation risks that may affect
the ultimate conversion rate which is unobservable. In addition, the stock, being denominated in US Dollars, is subject to foreign exchange risk.
These instruments are valued at the quoted market price of Visa Inc. Class A Common Stock to which a discount has been applied for the illiquidity and
the conversion rate variability of the preferred stock of Visa Inc. 43% haircut (2024: 62%). This was converted at the year end exchange rate.
The fair value measurement sensitivity to unobservable discount rates ranges from negative \u20ac14 million to positive \u20ac8 million at 31 December 2025
(2024: negative \u20ac16 million to positive of \u20ac21 million).
Other equity investments
Sensitivity information has not been provided for other equity investments as the portfolio comprises several investments, none of which is individually material.
Other financial assets
Deferred consideration
The fair value sensitivity to unobservable referral rates ranges from negative \u20ac3 million to positive \u20ac3 million at 31 December 2025.
Loans and advances to customers at FVTPL
For loans and advances to customers measured at FVTPL of \u20ac84 million (2024: \u20ac64 million), the Group does not believe that a reasonably possible
change to alternative assumptions would change fair value significantly and therefore has not disclosed those amounts in the table above or provided
the related disclosures.
Fair value is also applied in respect of secondary facilities arising on restructured loans subject to forbearance measures, on the likelihood that
additional cash flows, in excess of their primary facilities, will be received from customers. Given the significant uncertainty with regard to such cash
flows, the Group does not attribute a fair value unless it is reasonably certain that this value will be realised.
Day 1 gain or loss
No difference existed between the fair value at initial recognition of financial instruments and the amount that was determined at that date using a
valuation technique incorporating significant unobservable data.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-666": { "value": "
42\u00a0 Fair value of financial instruments
The Group\u2019s accounting policy for the \u2018determination of the fair value of financial instruments\u2019 is set out in note 1 accounting policy (m).
All valuations are carried out within the Finance function and valuation methodologies are validated by the independent Risk function within the Group.
Readers of these financial statements are advised to use caution when using the data in the following tables to evaluate the Group\u2019s financial position or
to make comparisons with other institutions. Fair value information is not provided for items that do not meet the definition of\u00a0a\u00a0financial instrument.
Methodologies used for the calculation of fair value
The methods used for calculation of fair value are as follows:
Financial instruments measured at fair value in the financial statements
(i) Trading portfolio financial instruments
The fair value of trading debt securities, together with quoted equity shares, is based on quoted prices or bid/offer quotations sourced from external
securities dealers, where these are available on an active market. Where securities and equities are traded on an exchange, the fair value is based on
prices from the exchange.
(ii) Derivative financial instruments
Where derivatives are traded on an exchange, the fair value is based on prices from the exchange. The fair value of over-the-counter derivative financial
instruments is estimated based on standard market discounting and valuation methodologies which use reliable observable inputs including yield
curves and market rates. Where there is uncertainty around the inputs to a derivative\u2019s valuation model, the fair value is estimated using inputs which
provide the Group\u2019s view of the most likely outcome in a disposal transaction between willing counterparties in a functioning market. Where an
unobservable input is material to the outcome of the valuation, a range of potential outcomes from favourable to unfavourable is estimated.
Counterparty valuation adjustment (CVA) and Funding valuation adjustment (FVA) are applied to all uncollateralised over-the-counter derivatives. The
combination of CVA and FVA is referred to as XVA. Where XVA valuation adjustments have been applied to a derivative instrument, the instrument is
classified as Level 3 in the fair value hierarchy where 10% of the instrument\u2019s valuation (including the interest accrual) is represented by XVA.
CVA is calculated as: Expected positive exposure (EPE) multiplied by probability of default (PD) multiplied by loss given default (LGD). EPE\u00a0profiles are
generated at a counterparty netting set through simulation. PDs are derived from market based credit default swaps (CDS) information. As most
counterparties do not have a quoted CDS, PDs are derived by mapping each counterparty to an index CDS credit grade. LGDs are based on the specific
circumstances of the counterparty and take into account valuation of offsetting security, where applicable. For smaller exposures where security
valuations are not individually assessed, an LGD of 60% is applied (2024: 60%).
FVA is calculated as: Expected exposure (EE) multiplied by funding spread (FS) multiplied by counterpart survival probability (1-PD). EE profiles (net of
expected positive and negative exposures) are generated at a counterparty netting set through simulation. Funding spreads used are an average implied
by CDSs for the Group\u2019s most active external derivative counterparties. The rationale in applying these spreads is to best estimate the FVA which a
counterparty would apply in a transaction to close out the Group\u2019s existing positions.
Within t he range of estimates and fair value sensitivity measurements, a favourable and an adverse scenario have been selected for PDs and LGDs for
CVA. The favourable/adverse scenario for customer PDs are (i) a single rating upgrade and (ii) a single rating downgrade, respectively. Customer LGDs
are shifted according to estimates of improvement in value of security compared with potential derivatives market values. Within the combination of
LGD and PD, both are shifted together yielding positive and negative valuations which are disclosed as potential alternative valuations. See 'Significant
unobservable inputs' within this note. For FVA, an adverse scenario is the use of the bond yields of the Group\u2019s most active derivative counterparties
while a favourable scenario is an upgrade in the CDS of the reference entities used to derive funding spreads.
(iii) Virtual corporate power purchase agreement
The Group has entered into a virtual corporate power purchase agreement (VPPA) associated with the sourcing of solar electricity for the Group from
two farms in Co. Wexford. The VPPA hedges the volatility in electricity prices guaranteeing a forward electricity price which is subject to inflation changes
only. This VPPA meets the definition of a derivative. The fair value of the virtual corporate power purchase agreement is estimated using discounted cash
flows applying market rates when available and rates offered by other data providers, in particular for unobservable forward Irish electricity solar pricing
curves.
(iv) Loans and advances to customers
The Group provides lending facilities of varying rates and maturities to corporate and personal customers. Valuation techniques are used in estimating
the fair value of loans, primarily using discounted cash flows and applying market rates where practicable and taking into account market risk and the
changes in credit quality of its borrowers.
The majority of loans and advances to customers are held at amortised cost, however the Group has a small number of loans and advances which are
required to be measured at FVTPL having failed the SPPI test. The valuation techniques used apply equally to those held at FVTPL and those held at
amortised cost. A key assumption for determining the fair value of loans and advances is that the carrying amount of variable rate loans (excluding
mortgage products) approximates to market value. For fixed rate loans, the fair value is calculated by discounting expected cash flows using discount
rates that reflect the interest rate risk in that portfolio.
The fair value of mortgage products, including tracker mortgages, is calculated by discounting expected cash flows using discount rates that reflect the
interest rate/credit risk in the portfolio.
42\u00a0 Fair value of financial instruments continued
Financial instruments measured at fair value in the financial statements continued
(v) Investment securities
The fair value of investment securities has been estimated based on expected sale proceeds. The expected sale proceeds are based on bid prices which
have been analysed and compared across multiple sources for reliability. Where bid prices are unavailable, fair values are estimated by valuation
techniques using observable market data for similar instruments. Where there is no market data for a directly comparable instrument, management
judgement on an appropriate credit spread to similar or related instruments with market data available is used within the valuation technique. This is
supported by cross referencing other similar or related instruments.
(vi) Other financial assets
The fair value of the deferred contingent consideration receivable arising from the disposal of AIB Merchant Services is calculated using an expected
discounted cashflow approach. The amount of consideration receivable is dependent on the number of referrals that the Group makes to AIB Merchant
Services over a ten-year period. The referral rates are unobservable and have been estimated based on historical referral rates.
Financial instruments not measured at fair value but with fair value information presented separately in the notes to the
financial\u00a0statements
(i) Loans and advances to banks
The fair value of loans and advances to banks is estimated using discounted cash flows applying either market rates, where practicable, or rates
currently offered by other financial institutions for placings with similar characteristics.
(ii) Loans and advances to customers at amortised cost
See methodology above under the heading (iv) Loans and advances to customers.
(iii) Securities financing
The fair value of securities financing assets and liabilities approximate their carrying amount as these balances are generally short-dated and
fully\u00a0collateralised.
(iv) Deposits and advances from banks and deposits and advances from customers
The fair value of current accounts and deposit liabilities which are repayable on demand, or which re-price frequently, approximates to their book\u00a0value.
The fair value of all other deposits and other borrowings is estimated using discounted cash flows and applying applicable market rates as appropriate.
(v)\u00a0 Debt securities in issue and tier 2 subordinated liabilities and other capital instruments
The estimated fair value of debt securities in issue and tier 2 subordinated liabilities and other capital instruments, is based on quoted prices where
available, or where these are unavailable, are estimated using valuation techniques using observable market data for similar instruments. Where\u00a0there is
no market data for a directly comparable instrument, management judgement, on an appropriate credit spread to similar or related\u00a0instruments with
market data available, is used within the valuation technique. This is supported by cross-referencing other similar or related\u00a0instruments.
(vi) Other financial assets and other financial liabilities
This caption includes accrued interest receivable and payable and other receivables (including amounts awaiting settlement and accounts payable).
The carrying amount is considered representative of fair value.
(vii) Commitments pertaining to credit-related instruments
Details of the various credit-related commitments and other off-balance sheet financial guarantees entered into by the Group are included in note\u00a038.
The ECL is considered a reasonable approximation of fair value of these credit-related financial instruments.
42\u00a0 Fair value of financial instruments continued
The table below sets out the carrying amount and fair value of financial instruments across the three levels of the fair value hierarchy at 31\u00a0December
2025 and 2024:
2025
2024
Carrying
amount
Fair Value
Carrying
amount
Fair Value
Fair value hierarchy
Fair value hierarchy
Level 1
Level 2
Level 3
Total
Level 1
Level 2
Level 3
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Financial assets measured at fair value
Trading portfolio financial assets
286
286
\u2014
\u2014
286
136
136
\u2014
\u2014
136
Derivative financial instruments:
Interest rate derivatives
1,582
\u2014
1,564
18
1,582
2,109
\u2014
2,020
89
2,109
Exchange rate derivatives
59
\u2014
59
\u2014
59
35
\u2014
35
\u2014
35
Loans and advances to customers at FVTPL
84
\u2014
\u2014
84
84
64
\u2014
\u2014
64
64
Investment debt securities at FVOCI
16,201
16,094
107
\u2014
16,201
13,568
13,468
100
\u2014
13,568
Equity investments at FVTPL
304
1
\u2014
303
304
297
1
\u2014
296
297
Other financial assets
26
\u2014
\u2014
26
26
\u2014
\u2014
\u2014
\u2014
\u2014
18,542
16,381
1,730
431
18,542
16,209
13,605
2,155
449
16,209
Financial assets not measured at fair value
Cash and balances at central banks1
40,571
651
39,920
\u2014
40,571
37,315
664
36,651
\u2014
37,315
Loans and advances to banks
601
\u2014
229
372
601
1,321
\u2014
241
1,080
1,321
Loans and advances to customers:
Mortgages2,3
37,372
\u2014
\u2014
38,614
38,614
36,722
\u2014
\u2014
35,832
35,832
Non-mortgages3
33,653
\u2014
\u2014
33,612
33,612
33,053
\u2014
\u2014
32,993
32,993
Cash collateral advanced to customers3
91
\u2014
\u2014
91
91
50
\u2014
\u2014
50
50
Securities financing
7,339
\u2014
\u2014
7,339
7,339
6,643
\u2014
\u2014
6,643
6,643
Investment debt securities measured at
amortised\u00a0cost
5,043
2,675
\u2014
2,382
5,057
4,803
\u2014
2,633
\u2014
2,168
4,801
Other financial assets
1,012
\u2014
\u2014
1,012
1,012
894
\u2014
\u2014
894
894
125,682
3,326
40,149
83,422
126,897
120,801
3,297
36,892
79,660
119,849
Financial liabilities measured at fair value
Trading portfolio financial liabilities
525
525
\u2014
\u2014
525
262
262
\u2014
\u2014
262
Derivative financial instruments:
Interest rate derivatives
1,366
1
1,347
18
1,366
1,689
\u2014
1,391
298
1,689
Exchange rate derivatives
38
\u2014
38
\u2014
38
112
\u2014
112
\u2014
112
Equity derivatives
1
\u2014
1
\u2014
1
\u2014
\u2014
\u2014
\u2014
\u2014
Credit derivatives
1
\u2014
1
\u2014
1
3
\u2014
3
\u2014
3
Virtual corporate power purchase agreement
2
\u2014
\u2014
2
2
3
\u2014
\u2014
3
3
1,933
526
1,387
20
1,933
2,069
262
1,506
301
2,069
Financial liabilities not measured at fair value
Deposits and advances from banks
156
\u2014
\u2014
156
156
836
\u2014
6
830
836
Deposits and advances from customers:
Current accounts3
64,871
\u2014
\u2014
64,871
64,871
62,657
\u2014
\u2014
62,657
62,657
Demand deposits3
32,392
\u2014
\u2014
32,392
32,392
31,126
\u2014
\u2014
31,126
31,126
Time deposits3
19,976
\u2014
\u2014
20,000
20,000
16,033
\u2014
\u2014
16,083
16,083
Cash collateral advanced from customers3
432
\u2014
\u2014
432
432
67
\u2014
\u2014
67
67
Securities financing
682
\u2014
\u2014
682
682
196
\u2014
\u2014
196
196
Debt securities in issue
8,183
7,394
\u2014
1,011
8,405
8,832
8,074
\u2014
957
9,031
Tier 2 subordinated liabilities and other capital
instruments
2,626
2,661
\u2014
\u2014
2,661
1,627
1,662
\u2014
\u2014
1,662
Other financial liabilities4
1,661
\u2014
\u2014
1,661
1,661
1,792
\u2014
\u2014
1,792
1,792
Loan commitments and other credit related
commitments
38
\u2014
\u2014
38
38
44
\u2014
\u2014
44
44
Financial guarantees
10
\u2014
\u2014
10
10
13
\u2014
\u2014
13
13
131,027
10,055
\u2014
121,253
131,308
123,223
9,736
6
113,765
123,507
1. Includes cash on hand of \u20ac651m (2024: \u20ac664m).
2. Includes residential and commercial mortgages..
3. Refer to note 1 (c) for further information about the change in presentation to the financial statements.
4. Includes a debit of \u20ac175m (2024: credit of \u20ac64m) of fair value changes of hedged items in portfolio hedges of interest rate risk.\u00a0
42\u00a0 Fair value of financial instruments continued
Significant transfers between Level 1 and Level 2 of the fair value hierarchy
There were no significant transfers between Level 1 and Level 2 of the fair value hierarchy for the years ended 31 December 2025 and\u00a02024.
Reconciliation of balances in Level 3 of the fair value hierarchy
The following table shows (i) a reconciliation from the opening balances to the closing balances for fair value measurements in Level 3 of the fair\u00a0value
hierarchy and (ii) total unrealised gains or losses included in profit or loss that is attributable to the assets and liabilities categorised as\u00a0Level 3 in the fair
value hierarchy at the end of the year.
2025
Financial assets
Financial liabilities
Derivative
s
Loans and
advances
at FVTPL
Equities
at FVTPL
Other
financial
assets
Total
Derivatives
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Movement in Level 3 assets and liabilities
At 1 January 2025
89
64
296
\u2014
449
301
301
Transfers into/(out of) Level 31,2
(27)
\u2014
\u2014
\u2014
(27)
(244)
(244)
Total gains or (losses) in:
Profit or loss:
Net trading income \u2013 losses
(44)
\u2014
\u2014
\u2014
(44)
(37)
(37)
Net change in FVTPL
\u2014
11
32
3
46
\u2014
\u2014
(44)
11
32
3
2
(37)
(37)
Purchases/additions
\u2014
22
45
23
90
\u2014
\u2014
Sales/disposals/redemptions
\u2014
\u2014
(70)
\u2014
(70)
\u2014
\u2014
Cash received: Principal
\u2014
(13)
\u2014
\u2014
(13)
\u2014
\u2014
At 31 December 2025
18
84
303
26
431
20
20
Total unrealised gains or (losses) included in profit or loss for
assets and liabilities classified as Level 3 at the end of the year
Net trading income \u2013 (losses)/income
(5)
\u2014
\u2014
\u2014
(5)
4
4
Gains on equity investments at FVTPL
\u2014
\u2014
19
\u2014
19
\u2014
\u2014
(Losses)/gains on financial assets at FVTPL
\u2014
(3)
\u2014
3
\u2014
\u2014
\u2014
(5)
(3)
19
3
14
4
4
2024
Financial assets
Financial liabilities
Derivatives
Loans and
advances at
FVTPL
Equities at
FVTPL
Other
financial
assets
Total
Derivatives
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Movement in Level 3 assets and liabilities
At 1 January 2024
129
42
340
\u2014
511
307
307
Transfers into/(out of) Level 31
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Total gains or (losses) in:
Profit or loss:
Net trading income \u2013 losses
(40)
\u2014
\u2014
\u2014
(40)
(6)
(6)
Net change in FVTPL
\u2014
11
76
\u2014
87
\u2014
\u2014
(40)
11
76
\u2014
47
(6)
(6)
Purchases/additions
\u2014
26
46
\u2014
72
\u2014
\u2014
Sales/disposals
\u2014
\u2014
(166)
\u2014
(166)
\u2014
\u2014
Cash received: Principal
\u2014
(15)
\u2014
\u2014
(15)
\u2014
\u2014
At 31 December 2024
89
64
296
\u2014
449
301
301
Total unrealised gains or (losses) included in profit or loss for
assets\u00a0and liabilities classified as Level 3 at the end of the year
Net trading income \u2013 losses
(15)
\u2014
\u2014
\u2014
(15)
(35)
(35)
Gains on equity investments at FVTPL
\u2014
\u2014
35
\u2014
35
\u2014
\u2014
Losses on loans and advances at FVTPL
\u2014
(3)
\u2014
\u2014
(3)
\u2014
\u2014
(15)
(3)
35
\u2014
17
(35)
(35)
1. Transfers between levels of the fair value hierarchy are recognised at the end of the reporting period during which the change occurred.
2. In 2025, \u20ac27m derivative assets and \u20ac244m derivative liabilities were reclassified to Level 2 following a reassessment of the threshold for determining whether an unobservable input is significant to
the classification of a fair value measurement within the hierarchy.
42\u00a0 Fair value of financial instruments continued
Significant unobservable inputs
The following table sets out information about significant unobservable inputs used in measuring financial instruments categorised as Level 3 in the fair
value hierarchy:
Fair value
Range of estimates
Financial instrument
2025
\u20ac m
2024
\u20ac m
Valuation
technique
Significant
unobservable input
31 December
2025
31 December
2024
Derivative financial instruments
Interest rate derivatives
Asset
18
89
CVA
LGD
35% \u2013 51%
38% \u2013 56%
Liability
18
298
(Base 41%)
(Base 46%)
PD
0.3% \u2013 2.2%
0.4% \u2013 1.8%
(Base 0.7% 1-year PD)
(Base 0.8% 1-year PD)
FVA
Funding spreads
(0.1%) \u2013 0.2%
(0.2%) \u2013 0.3%
Virtual corporate power purchase agreement
Liability
2
3
Discounted Expected
Future Cash flows
Irish electricity solar
capture prices
(20%) \u2013 10%
(10%) \u2013 20%
Equity investments at FVTPL
Visa Inc. Series B Preferred Stock
Asset
14
16
Quoted market price
(to which a discount
has been applied)
Final conversion
rate
0% \u2013 90%
0% \u2013 90%
Other financial assets
Deferred consideration
Asset
26
\u2014
Discounted Expected
Future Cash flows
Referral rate
70% \u2013 90%
\u2014
Derivative financial instruments
Interest rate derivatives
Derivatives (assets and liabilities) include negative XVA valuation adjustments amounting to net \u20ac1 million (2024: \u20ac8 million). The sensitivity to
unobservable inputs for this XVA valuation adjustment at 31 December 2025 ranges from (i) negative \u20ac1 million to Nil for CVA (2024: negative \u20ac5 million
to positive \u20ac3 million) and (ii) Nil for FVA (2024: negative \u20ac1 million to positive \u20ac1 million).
Virtual corporate power purchase agreement
The fair value sensitivity to unobservable forward Irish electricity solar capture prices ranges from negative \u20ac5 million to positive \u20ac2 million (2024:
negative \u20ac4 million to positive \u20ac2 million).
Equity investments at FVTPL
Visa Inc. Series B Preferred Stock
The Group received Series B Preferred Stock in Visa Inc. as part consideration for its holding of shares in Visa Europe. The preferred stock will be
convertible into Class A Common Stock of Visa Inc. over time. The remaining conversion is subject to certain Visa Europe litigation risks that may affect
the ultimate conversion rate which is unobservable. In addition, the stock, being denominated in US Dollars, is subject to foreign exchange risk.
These instruments are valued at the quoted market price of Visa Inc. Class A Common Stock to which a discount has been applied for the illiquidity and
the conversion rate variability of the preferred stock of Visa Inc. 43% haircut (2024: 62%). This was converted at the year end exchange rate.
The fair value measurement sensitivity to unobservable discount rates ranges from negative \u20ac14 million to positive \u20ac8 million at 31 December 2025
(2024: negative \u20ac16 million to positive of \u20ac21 million).
Other equity investments
Sensitivity information has not been provided for other equity investments as the portfolio comprises several investments, none of which is individually material.
Other financial assets
Deferred consideration
The fair value sensitivity to unobservable referral rates ranges from negative \u20ac3 million to positive \u20ac3 million at 31 December 2025.
Loans and advances to customers at FVTPL
For loans and advances to customers measured at FVTPL of \u20ac84 million (2024: \u20ac64 million), the Group does not believe that a reasonably possible
change to alternative assumptions would change fair value significantly and therefore has not disclosed those amounts in the table above or provided
the related disclosures.
Fair value is also applied in respect of secondary facilities arising on restructured loans subject to forbearance measures, on the likelihood that
additional cash flows, in excess of their primary facilities, will be received from customers. Given the significant uncertainty with regard to such cash
flows, the Group does not attribute a fair value unless it is reasonably certain that this value will be realised.
Day 1 gain or loss
No difference existed between the fair value at initial recognition of financial instruments and the amount that was determined at that date using a
valuation technique incorporating significant unobservable data.", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-665": { "value": "
42\u00a0 Fair value of financial instruments
The Group\u2019s accounting policy for the \u2018determination of the fair value of financial instruments\u2019 is set out in note 1 accounting policy (m).
All valuations are carried out within the Finance function and valuation methodologies are validated by the independent Risk function within the Group.
Readers of these financial statements are advised to use caution when using the data in the following tables to evaluate the Group\u2019s financial position or
to make comparisons with other institutions. Fair value information is not provided for items that do not meet the definition of\u00a0a\u00a0financial instrument.
Methodologies used for the calculation of fair value
The methods used for calculation of fair value are as follows:
Financial instruments measured at fair value in the financial statements
(i) Trading portfolio financial instruments
The fair value of trading debt securities, together with quoted equity shares, is based on quoted prices or bid/offer quotations sourced from external
securities dealers, where these are available on an active market. Where securities and equities are traded on an exchange, the fair value is based on
prices from the exchange.
(ii) Derivative financial instruments
Where derivatives are traded on an exchange, the fair value is based on prices from the exchange. The fair value of over-the-counter derivative financial
instruments is estimated based on standard market discounting and valuation methodologies which use reliable observable inputs including yield
curves and market rates. Where there is uncertainty around the inputs to a derivative\u2019s valuation model, the fair value is estimated using inputs which
provide the Group\u2019s view of the most likely outcome in a disposal transaction between willing counterparties in a functioning market. Where an
unobservable input is material to the outcome of the valuation, a range of potential outcomes from favourable to unfavourable is estimated.
Counterparty valuation adjustment (CVA) and Funding valuation adjustment (FVA) are applied to all uncollateralised over-the-counter derivatives. The
combination of CVA and FVA is referred to as XVA. Where XVA valuation adjustments have been applied to a derivative instrument, the instrument is
classified as Level 3 in the fair value hierarchy where 10% of the instrument\u2019s valuation (including the interest accrual) is represented by XVA.
CVA is calculated as: Expected positive exposure (EPE) multiplied by probability of default (PD) multiplied by loss given default (LGD). EPE\u00a0profiles are
generated at a counterparty netting set through simulation. PDs are derived from market based credit default swaps (CDS) information. As most
counterparties do not have a quoted CDS, PDs are derived by mapping each counterparty to an index CDS credit grade. LGDs are based on the specific
circumstances of the counterparty and take into account valuation of offsetting security, where applicable. For smaller exposures where security
valuations are not individually assessed, an LGD of 60% is applied (2024: 60%).
FVA is calculated as: Expected exposure (EE) multiplied by funding spread (FS) multiplied by counterpart survival probability (1-PD). EE profiles (net of
expected positive and negative exposures) are generated at a counterparty netting set through simulation. Funding spreads used are an average implied
by CDSs for the Group\u2019s most active external derivative counterparties. The rationale in applying these spreads is to best estimate the FVA which a
counterparty would apply in a transaction to close out the Group\u2019s existing positions.
Within t he range of estimates and fair value sensitivity measurements, a favourable and an adverse scenario have been selected for PDs and LGDs for
CVA. The favourable/adverse scenario for customer PDs are (i) a single rating upgrade and (ii) a single rating downgrade, respectively. Customer LGDs
are shifted according to estimates of improvement in value of security compared with potential derivatives market values. Within the combination of
LGD and PD, both are shifted together yielding positive and negative valuations which are disclosed as potential alternative valuations. See 'Significant
unobservable inputs' within this note. For FVA, an adverse scenario is the use of the bond yields of the Group\u2019s most active derivative counterparties
while a favourable scenario is an upgrade in the CDS of the reference entities used to derive funding spreads.
(iii) Virtual corporate power purchase agreement
The Group has entered into a virtual corporate power purchase agreement (VPPA) associated with the sourcing of solar electricity for the Group from
two farms in Co. Wexford. The VPPA hedges the volatility in electricity prices guaranteeing a forward electricity price which is subject to inflation changes
only. This VPPA meets the definition of a derivative. The fair value of the virtual corporate power purchase agreement is estimated using discounted cash
flows applying market rates when available and rates offered by other data providers, in particular for unobservable forward Irish electricity solar pricing
curves.
(iv) Loans and advances to customers
The Group provides lending facilities of varying rates and maturities to corporate and personal customers. Valuation techniques are used in estimating
the fair value of loans, primarily using discounted cash flows and applying market rates where practicable and taking into account market risk and the
changes in credit quality of its borrowers.
The majority of loans and advances to customers are held at amortised cost, however the Group has a small number of loans and advances which are
required to be measured at FVTPL having failed the SPPI test. The valuation techniques used apply equally to those held at FVTPL and those held at
amortised cost. A key assumption for determining the fair value of loans and advances is that the carrying amount of variable rate loans (excluding
mortgage products) approximates to market value. For fixed rate loans, the fair value is calculated by discounting expected cash flows using discount
rates that reflect the interest rate risk in that portfolio.
The fair value of mortgage products, including tracker mortgages, is calculated by discounting expected cash flows using discount rates that reflect the
interest rate/credit risk in the portfolio.
42\u00a0 Fair value of financial instruments continued
Financial instruments measured at fair value in the financial statements continued
(v) Investment securities
The fair value of investment securities has been estimated based on expected sale proceeds. The expected sale proceeds are based on bid prices which
have been analysed and compared across multiple sources for reliability. Where bid prices are unavailable, fair values are estimated by valuation
techniques using observable market data for similar instruments. Where there is no market data for a directly comparable instrument, management
judgement on an appropriate credit spread to similar or related instruments with market data available is used within the valuation technique. This is
supported by cross referencing other similar or related instruments.
(vi) Other financial assets
The fair value of the deferred contingent consideration receivable arising from the disposal of AIB Merchant Services is calculated using an expected
discounted cashflow approach. The amount of consideration receivable is dependent on the number of referrals that the Group makes to AIB Merchant
Services over a ten-year period. The referral rates are unobservable and have been estimated based on historical referral rates.
Financial instruments not measured at fair value but with fair value information presented separately in the notes to the
financial\u00a0statements
(i) Loans and advances to banks
The fair value of loans and advances to banks is estimated using discounted cash flows applying either market rates, where practicable, or rates
currently offered by other financial institutions for placings with similar characteristics.
(ii) Loans and advances to customers at amortised cost
See methodology above under the heading (iv) Loans and advances to customers.
(iii) Securities financing
The fair value of securities financing assets and liabilities approximate their carrying amount as these balances are generally short-dated and
fully\u00a0collateralised.
(iv) Deposits and advances from banks and deposits and advances from customers
The fair value of current accounts and deposit liabilities which are repayable on demand, or which re-price frequently, approximates to their book\u00a0value.
The fair value of all other deposits and other borrowings is estimated using discounted cash flows and applying applicable market rates as appropriate.
(v)\u00a0 Debt securities in issue and tier 2 subordinated liabilities and other capital instruments
The estimated fair value of debt securities in issue and tier 2 subordinated liabilities and other capital instruments, is based on quoted prices where
available, or where these are unavailable, are estimated using valuation techniques using observable market data for similar instruments. Where\u00a0there is
no market data for a directly comparable instrument, management judgement, on an appropriate credit spread to similar or related\u00a0instruments with
market data available, is used within the valuation technique. This is supported by cross-referencing other similar or related\u00a0instruments.
(vi) Other financial assets and other financial liabilities
This caption includes accrued interest receivable and payable and other receivables (including amounts awaiting settlement and accounts payable).
The carrying amount is considered representative of fair value.
(vii) Commitments pertaining to credit-related instruments
Details of the various credit-related commitments and other off-balance sheet financial guarantees entered into by the Group are included in note\u00a038.
The ECL is considered a reasonable approximation of fair value of these credit-related financial instruments.
42\u00a0 Fair value of financial instruments continued
The table below sets out the carrying amount and fair value of financial instruments across the three levels of the fair value hierarchy at 31\u00a0December
2025 and 2024:
2025
2024
Carrying
amount
Fair Value
Carrying
amount
Fair Value
Fair value hierarchy
Fair value hierarchy
Level 1
Level 2
Level 3
Total
Level 1
Level 2
Level 3
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Financial assets measured at fair value
Trading portfolio financial assets
286
286
\u2014
\u2014
286
136
136
\u2014
\u2014
136
Derivative financial instruments:
Interest rate derivatives
1,582
\u2014
1,564
18
1,582
2,109
\u2014
2,020
89
2,109
Exchange rate derivatives
59
\u2014
59
\u2014
59
35
\u2014
35
\u2014
35
Loans and advances to customers at FVTPL
84
\u2014
\u2014
84
84
64
\u2014
\u2014
64
64
Investment debt securities at FVOCI
16,201
16,094
107
\u2014
16,201
13,568
13,468
100
\u2014
13,568
Equity investments at FVTPL
304
1
\u2014
303
304
297
1
\u2014
296
297
Other financial assets
26
\u2014
\u2014
26
26
\u2014
\u2014
\u2014
\u2014
\u2014
18,542
16,381
1,730
431
18,542
16,209
13,605
2,155
449
16,209
Financial assets not measured at fair value
Cash and balances at central banks1
40,571
651
39,920
\u2014
40,571
37,315
664
36,651
\u2014
37,315
Loans and advances to banks
601
\u2014
229
372
601
1,321
\u2014
241
1,080
1,321
Loans and advances to customers:
Mortgages2,3
37,372
\u2014
\u2014
38,614
38,614
36,722
\u2014
\u2014
35,832
35,832
Non-mortgages3
33,653
\u2014
\u2014
33,612
33,612
33,053
\u2014
\u2014
32,993
32,993
Cash collateral advanced to customers3
91
\u2014
\u2014
91
91
50
\u2014
\u2014
50
50
Securities financing
7,339
\u2014
\u2014
7,339
7,339
6,643
\u2014
\u2014
6,643
6,643
Investment debt securities measured at
amortised\u00a0cost
5,043
2,675
\u2014
2,382
5,057
4,803
\u2014
2,633
\u2014
2,168
4,801
Other financial assets
1,012
\u2014
\u2014
1,012
1,012
894
\u2014
\u2014
894
894
125,682
3,326
40,149
83,422
126,897
120,801
3,297
36,892
79,660
119,849
Financial liabilities measured at fair value
Trading portfolio financial liabilities
525
525
\u2014
\u2014
525
262
262
\u2014
\u2014
262
Derivative financial instruments:
Interest rate derivatives
1,366
1
1,347
18
1,366
1,689
\u2014
1,391
298
1,689
Exchange rate derivatives
38
\u2014
38
\u2014
38
112
\u2014
112
\u2014
112
Equity derivatives
1
\u2014
1
\u2014
1
\u2014
\u2014
\u2014
\u2014
\u2014
Credit derivatives
1
\u2014
1
\u2014
1
3
\u2014
3
\u2014
3
Virtual corporate power purchase agreement
2
\u2014
\u2014
2
2
3
\u2014
\u2014
3
3
1,933
526
1,387
20
1,933
2,069
262
1,506
301
2,069
Financial liabilities not measured at fair value
Deposits and advances from banks
156
\u2014
\u2014
156
156
836
\u2014
6
830
836
Deposits and advances from customers:
Current accounts3
64,871
\u2014
\u2014
64,871
64,871
62,657
\u2014
\u2014
62,657
62,657
Demand deposits3
32,392
\u2014
\u2014
32,392
32,392
31,126
\u2014
\u2014
31,126
31,126
Time deposits3
19,976
\u2014
\u2014
20,000
20,000
16,033
\u2014
\u2014
16,083
16,083
Cash collateral advanced from customers3
432
\u2014
\u2014
432
432
67
\u2014
\u2014
67
67
Securities financing
682
\u2014
\u2014
682
682
196
\u2014
\u2014
196
196
Debt securities in issue
8,183
7,394
\u2014
1,011
8,405
8,832
8,074
\u2014
957
9,031
Tier 2 subordinated liabilities and other capital
instruments
2,626
2,661
\u2014
\u2014
2,661
1,627
1,662
\u2014
\u2014
1,662
Other financial liabilities4
1,661
\u2014
\u2014
1,661
1,661
1,792
\u2014
\u2014
1,792
1,792
Loan commitments and other credit related
commitments
38
\u2014
\u2014
38
38
44
\u2014
\u2014
44
44
Financial guarantees
10
\u2014
\u2014
10
10
13
\u2014
\u2014
13
13
131,027
10,055
\u2014
121,253
131,308
123,223
9,736
6
113,765
123,507
1. Includes cash on hand of \u20ac651m (2024: \u20ac664m).
2. Includes residential and commercial mortgages..
3. Refer to note 1 (c) for further information about the change in presentation to the financial statements.
4. Includes a debit of \u20ac175m (2024: credit of \u20ac64m) of fair value changes of hedged items in portfolio hedges of interest rate risk.\u00a0
42\u00a0 Fair value of financial instruments continued
Significant transfers between Level 1 and Level 2 of the fair value hierarchy
There were no significant transfers between Level 1 and Level 2 of the fair value hierarchy for the years ended 31 December 2025 and\u00a02024.
Reconciliation of balances in Level 3 of the fair value hierarchy
The following table shows (i) a reconciliation from the opening balances to the closing balances for fair value measurements in Level 3 of the fair\u00a0value
hierarchy and (ii) total unrealised gains or losses included in profit or loss that is attributable to the assets and liabilities categorised as\u00a0Level 3 in the fair
value hierarchy at the end of the year.
2025
Financial assets
Financial liabilities
Derivative
s
Loans and
advances
at FVTPL
Equities
at FVTPL
Other
financial
assets
Total
Derivatives
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Movement in Level 3 assets and liabilities
At 1 January 2025
89
64
296
\u2014
449
301
301
Transfers into/(out of) Level 31,2
(27)
\u2014
\u2014
\u2014
(27)
(244)
(244)
Total gains or (losses) in:
Profit or loss:
Net trading income \u2013 losses
(44)
\u2014
\u2014
\u2014
(44)
(37)
(37)
Net change in FVTPL
\u2014
11
32
3
46
\u2014
\u2014
(44)
11
32
3
2
(37)
(37)
Purchases/additions
\u2014
22
45
23
90
\u2014
\u2014
Sales/disposals/redemptions
\u2014
\u2014
(70)
\u2014
(70)
\u2014
\u2014
Cash received: Principal
\u2014
(13)
\u2014
\u2014
(13)
\u2014
\u2014
At 31 December 2025
18
84
303
26
431
20
20
Total unrealised gains or (losses) included in profit or loss for
assets and liabilities classified as Level 3 at the end of the year
Net trading income \u2013 (losses)/income
(5)
\u2014
\u2014
\u2014
(5)
4
4
Gains on equity investments at FVTPL
\u2014
\u2014
19
\u2014
19
\u2014
\u2014
(Losses)/gains on financial assets at FVTPL
\u2014
(3)
\u2014
3
\u2014
\u2014
\u2014
(5)
(3)
19
3
14
4
4
2024
Financial assets
Financial liabilities
Derivatives
Loans and
advances at
FVTPL
Equities at
FVTPL
Other
financial
assets
Total
Derivatives
Total
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
\u20ac m
Movement in Level 3 assets and liabilities
At 1 January 2024
129
42
340
\u2014
511
307
307
Transfers into/(out of) Level 31
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Total gains or (losses) in:
Profit or loss:
Net trading income \u2013 losses
(40)
\u2014
\u2014
\u2014
(40)
(6)
(6)
Net change in FVTPL
\u2014
11
76
\u2014
87
\u2014
\u2014
(40)
11
76
\u2014
47
(6)
(6)
Purchases/additions
\u2014
26
46
\u2014
72
\u2014
\u2014
Sales/disposals
\u2014
\u2014
(166)
\u2014
(166)
\u2014
\u2014
Cash received: Principal
\u2014
(15)
\u2014
\u2014
(15)
\u2014
\u2014
At 31 December 2024
89
64
296
\u2014
449
301
301
Total unrealised gains or (losses) included in profit or loss for
assets\u00a0and liabilities classified as Level 3 at the end of the year
Net trading income \u2013 losses
(15)
\u2014
\u2014
\u2014
(15)
(35)
(35)
Gains on equity investments at FVTPL
\u2014
\u2014
35
\u2014
35
\u2014
\u2014
Losses on loans and advances at FVTPL
\u2014
(3)
\u2014
\u2014
(3)
\u2014
\u2014
(15)
(3)
35
\u2014
17
(35)
(35)
1. Transfers between levels of the fair value hierarchy are recognised at the end of the reporting period during which the change occurred.
2. In 2025, \u20ac27m derivative assets and \u20ac244m derivative liabilities were reclassified to Level 2 following a reassessment of the threshold for determining whether an unobservable input is significant to
the classification of a fair value measurement within the hierarchy.
42\u00a0 Fair value of financial instruments continued
Significant unobservable inputs
The following table sets out information about significant unobservable inputs used in measuring financial instruments categorised as Level 3 in the fair
value hierarchy:
Fair value
Range of estimates
Financial instrument
2025
\u20ac m
2024
\u20ac m
Valuation
technique
Significant
unobservable input
31 December
2025
31 December
2024
Derivative financial instruments
Interest rate derivatives
Asset
18
89
CVA
LGD
35% \u2013 51%
38% \u2013 56%
Liability
18
298
(Base 41%)
(Base 46%)
PD
0.3% \u2013 2.2%
0.4% \u2013 1.8%
(Base 0.7% 1-year PD)
(Base 0.8% 1-year PD)
FVA
Funding spreads
(0.1%) \u2013 0.2%
(0.2%) \u2013 0.3%
Virtual corporate power purchase agreement
Liability
2
3
Discounted Expected
Future Cash flows
Irish electricity solar
capture prices
(20%) \u2013 10%
(10%) \u2013 20%
Equity investments at FVTPL
Visa Inc. Series B Preferred Stock
Asset
14
16
Quoted market price
(to which a discount
has been applied)
Final conversion
rate
0% \u2013 90%
0% \u2013 90%
Other financial assets
Deferred consideration
Asset
26
\u2014
Discounted Expected
Future Cash flows
Referral rate
70% \u2013 90%
\u2014
Derivative financial instruments
Interest rate derivatives
Derivatives (assets and liabilities) include negative XVA valuation adjustments amounting to net \u20ac1 million (2024: \u20ac8 million). The sensitivity to
unobservable inputs for this XVA valuation adjustment at 31 December 2025 ranges from (i) negative \u20ac1 million to Nil for CVA (2024: negative \u20ac5 million
to positive \u20ac3 million) and (ii) Nil for FVA (2024: negative \u20ac1 million to positive \u20ac1 million).
Virtual corporate power purchase agreement
The fair value sensitivity to unobservable forward Irish electricity solar capture prices ranges from negative \u20ac5 million to positive \u20ac2 million (2024:
negative \u20ac4 million to positive \u20ac2 million).
Equity investments at FVTPL
Visa Inc. Series B Preferred Stock
The Group received Series B Preferred Stock in Visa Inc. as part consideration for its holding of shares in Visa Europe. The preferred stock will be
convertible into Class A Common Stock of Visa Inc. over time. The remaining conversion is subject to certain Visa Europe litigation risks that may affect
the ultimate conversion rate which is unobservable. In addition, the stock, being denominated in US Dollars, is subject to foreign exchange risk.
These instruments are valued at the quoted market price of Visa Inc. Class A Common Stock to which a discount has been applied for the illiquidity and
the conversion rate variability of the preferred stock of Visa Inc. 43% haircut (2024: 62%). This was converted at the year end exchange rate.
The fair value measurement sensitivity to unobservable discount rates ranges from negative \u20ac14 million to positive \u20ac8 million at 31 December 2025
(2024: negative \u20ac16 million to positive of \u20ac21 million).
Other equity investments
Sensitivity information has not been provided for other equity investments as the portfolio comprises several investments, none of which is individually material.
Other financial assets
Deferred consideration
The fair value sensitivity to unobservable referral rates ranges from negative \u20ac3 million to positive \u20ac3 million at 31 December 2025.
Loans and advances to customers at FVTPL
For loans and advances to customers measured at FVTPL of \u20ac84 million (2024: \u20ac64 million), the Group does not believe that a reasonably possible
change to alternative assumptions would change fair value significantly and therefore has not disclosed those amounts in the table above or provided
the related disclosures.
Fair value is also applied in respect of secondary facilities arising on restructured loans subject to forbearance measures, on the likelihood that
additional cash flows, in excess of their primary facilities, will be received from customers. Given the significant uncertainty with regard to such cash
flows, the Group does not attribute a fair value unless it is reasonably certain that this value will be realised.
Day 1 gain or loss
No difference existed between the fair value at initial recognition of financial instruments and the amount that was determined at that date using a
valuation technique incorporating significant unobservable data.", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-668": { "value": "
43\u00a0 Cash and balances at central banks
Cash and balances at central banks (net of ECL allowance of Nil) comprises:
2025
2024
\u20ac m
\u20ac m
Central Bank of Ireland
35,824
31,526
Bank of England
3,801
4,931
Federal Reserve Bank of New York
295
194
Other (cash on hand)
651
664
Total cash and balances at central banks
40,571
37,315
For the purposes of the statement of cash flows, cash and cash equivalents comprise the following balances with less than three months maturity from
the date of origination:
2025
2024
\u20ac m
\u20ac m
Cash and balances at central banks
40,571
37,315
Loans and advances to banks1
306
1,012
Total cash and cash equivalents
40,877
38,327
of which comprises restricted cash balances
241
219
of which comprises cash held in trust in respect of certain payables
7
6
1. Included in loans and advances to banks total of \u20ac 601m (2024: \u20ac 1,321m) set out in note 16.
There are certain regulatory restrictions on the ability of subsidiaries to transfer funds to the parent company in the form of cash dividends, loans or
advances. The impact of such restrictions is not expected to have a material effect on the Group\u2019s ability to meet its cash obligations.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-667": { "value": "
43\u00a0 Cash and balances at central banks
Cash and balances at central banks (net of ECL allowance of Nil) comprises:
2025
2024
\u20ac m
\u20ac m
Central Bank of Ireland
35,824
31,526
Bank of England
3,801
4,931
Federal Reserve Bank of New York
295
194
Other (cash on hand)
651
664
Total cash and balances at central banks
40,571
37,315
For the purposes of the statement of cash flows, cash and cash equivalents comprise the following balances with less than three months maturity from
the date of origination:
2025
2024
\u20ac m
\u20ac m
Cash and balances at central banks
40,571
37,315
Loans and advances to banks1
306
1,012
Total cash and cash equivalents
40,877
38,327
of which comprises restricted cash balances
241
219
of which comprises cash held in trust in respect of certain payables
7
6
1. Included in loans and advances to banks total of \u20ac 601m (2024: \u20ac 1,321m) set out in note 16.
There are certain regulatory restrictions on the ability of subsidiaries to transfer funds to the parent company in the form of cash dividends, loans or
advances. The impact of such restrictions is not expected to have a material effect on the Group\u2019s ability to meet its cash obligations.
", "dimensions": { "concept": "ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-669": { "value": "
44\u00a0 Statement of cash flows
Non-cash and other items included in profit before taxation
Non-cash items
2025
2024
\u20ac m
\u20ac m
Loss on disposal of business
\u2014
2
Net gain on derecognition of financial assets measured at amortised cost
(8)
(2)
Dividend income from equity accounted investments
\u2014
(1)
Investments accounted for using the equity method
(174)
(26)
Net remeasurement of ECL allowance
198
87
Change in other provisions
(2)
56
Retirement benefits \u2013 defined benefit expense
7
3
Depreciation, amortisation and impairment
291
301
Interest on Tier 2 subordinated liabilities and other capital instruments
62
55
Interest on debt securities1
343
352
Interest on other debt securities
61
22
Loss on disposal of investment securities
76
77
Gain on termination of hedging swaps
(76)
(41)
Amortisation of premiums and discounts
11
22
Net gain on equity investments at FVTPL
(32)
(70)
Net loss on loans and advances to customers at FVTPL
\u2014
3
Change in prepayments and accrued income
(65)
23
Change in accruals and deferred income
18
101
Effect of exchange translation and other adjustments2
(59)
82
Total non-cash items
651
1,046
Contributions to defined benefit pension schemes
(19)
(24)
Dividends received on equity investments
\u2014
1
Total other items
(19)
(23)
Non-cash and other items included in profit before taxation for the year ended 31 December
632
1,023
Change in operating assets2
2025
2024
\u20ac m
\u20ac m
Change in trading portfolio financial assets
(150)
(43)
Change in net derivative financial instruments
(10)
49
Change in loans and advances to banks
(1)
12
Change in loans and advances to customers
(2,503)
(4,034)
Change in securities financing
(773)
(137)
Change in other assets
53
(23)
(3,384)
(4,176)
Change in operating liabilities2
2025
2024
\u20ac m
\u20ac m
Change in deposits and advances from banks
(679)
(988)
Change in deposits and advances from customers
8,459
4,558
Change in securities financing
494
(406)
Change in trading portfolio liabilities
263
123
Change in debt securities in issue
115
777
Change in notes in circulation
(3)
(1)
Change in other liabilities
332
(125)
8,981
3,938
1. Relates to debt securities classified at origination as MREL.
2. The impact of foreign exchange translation for each line of the statement of financial position is removed in order to show the underlying cash impact.", "dimensions": { "concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-671": { "value": "
45\u00a0 Related party transactions\u00a0
Related parties in the Group include the parent company and controlling party (AIB Group plc), subsidiary undertakings, associated undertakings, joint
arrangements, post-employment benefits, Key Management Personnel and connected parties. The registered office of AIB Group plc is at\u00a010
Molesworth Street, Dublin 2.
(a) Transactions with subsidiary undertakings
AIB Group plc is the ultimate parent company of the Group. Banking transactions between the parent company and its subsidiaries and between
subsidiaries are entered into in the normal course of business. These include loans, deposits, provision of derivative contracts, foreign currency
contracts and the provision of guarantees on an \u2018arm\u2019s length basis\u2019. Furthermore, pricing arrangements between Allied Irish Banks, p.l.c. and certain
Irish subsidiaries, and between certain Irish subsidiaries reflect revised OECD guidelines on transfer pricing, which are the internationally accepted
principles in this area, and take account of the functions, risks and assets involved. Transactions between the parent company and its subsidiaries and
between subsidiaries have been eliminated on consolidation.
(b) Associated undertakings and joint venture
From time to time, the Group provides certain banking and financial services for associated undertakings. These transactions are made in the ordinary
course of business on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions
with other persons and do not involve more than the normal risk of collectability or present other unfavourable features. Details of loans to associates
and joint venture are set out in notes 17 and 28 to the consolidated financial statements.
(c) Provision of banking and related services and funding to Group pension schemes
The Group provides certain banking and financial services including money transmission services for the AIB Group pension schemes and a UK pension
funding partnership, AIB PFP Scottish Limited Partnership (SLP). Such services are provided in the ordinary course of business, on substantially the
same terms, including interest rates, as those prevailing at the time for comparable transactions with other persons.
45\u00a0 Related party transactions continued
(d) Companies Act 2014 disclosures
(i) Loans to Directors
The following information is presented in accordance with the Companies Act 2014. For the purposes of the Companies Act disclosures, any\u00a0Director
means a current member of the Board of Directors and individual who was a Director during the relevant period.
Where no amount is shown in the tables below, this indicates either a credit balance, a balance of Nil, or a balance of less than \u20ac500. Balances and
repayments include principal and interest.
Details of transactions with Directors for the year ended 31 December 2025 and 2024 are as follows:
2025
2024
Balance at
1 January
2025
Amounts
advanced
during
2025
Amounts
repaid
during
2025
Balance at
31 December
2025
Balance at
1 January
2024
Amounts
advanced
during
2024
Amounts
repaid
during
2024
Balance at
31 December
2024
\u20ac 000
\u20ac 000
\u20ac 000
\u20ac 000
\u20ac 000
\u20ac 000
\u20ac 000
\u20ac 000
Tanya Horgan
Loans
41
\u2014
(7)
34
43
\u2014
(2)
41
Overdraft/credit card1
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Total
41
\u2014
(7)
34
43
\u2014
(2)
41
Interest charged during the year
2
3
Maximum debit balance during the year2
41
43
Colin Hunt
Loans
550
\u2014
(48)
502
597
\u2014
(47)
550
Overdraft/credit card1
16
\u2014
\u2014
7
15
\u2014
\u2014
16
Total
566
\u2014
(48)
509
612
\u2014
(47)
566
Interest charged during the year
14
15
Maximum debit balance during the year2
576
620
Ann O'Brien
Loans
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Overdraft/credit card1
1
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
1
Total
1
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
1
Interest charged during the year
\u2014
\u2014
Maximum debit balance during the year2
1
2
Helen Normoyle
Loans
\u2014
\u2014
\u2014
\u2014
\u2014
264
(264)
\u2014
Overdraft/credit card1
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Total
\u2014
\u2014
\u2014
\u2014
0
\u2014
264
(264)
\u2014
Interest charged during the year
\u2014
2
Maximum debit balance during the year2
\u2014
267
Basil Geoghegan
Loans
627
\u2014
(627)
\u2014
\u2014
663
(37)
627
Overdraft/credit card1
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Total
627
\u2014
(627)
\u2014
\u2014
663
(37)
627
Interest charged during the year
15
13
Maximum debit balance during the year2
627
669
1. Amounts advanced and repaid are not shown for overdraft/credit card facilities as these are revolving in nature (i.e. they may be drawn, repaid and redrawn up to their limit over the course of the year).
2. The maximum debit balance is calculated by aggregating the maximum debit balance drawn on each facility during the year.
45\u00a0 Related party transactions continued
(d) Companies Act 2014 disclosures continued
(i) Loans to Directors continued
Anik Chaumartin, Donal Galvin, Sandy Kinney Pritchard, Andy Maguire, Elaine MacLean, Brendan McDonagh, Jim Pettigrew, Jan Sijbrand, Fergal
O\u2019Dwyer, Raj Singh and Anne Sheehan had no credit facilities with the Group in 2025.
All loans to Directors and their connected persons are made in the ordinary course of business on substantially the same terms, including interest rates
and collateral, as those prevailing at the time for similar transactions with other persons unconnected with the Group and of similar financial standing
and do not involve more than normal risk of collectability. All facilities are performing to their terms and conditions.
An expected credit loss allowance is held for all loans and advances. A total expected credit loss allowance of less than \u20ac500 was held on the facilities
disclosed in the preceding table at 31 December 2025 (2024: less than \u20ac500).
(ii) Connected persons
The aggregate of loans to connected persons of Directors in office during the year ended 31 December 2025 and 2024 are set out in the table below. Loans
to connected persons of Directors in office during the year have not been disclosed if their balance did not exceed \u20ac7,500 in the year.
2025
2024
Balance at
31 December
2025
Maximum
amount
outstanding
during the
year
Number of
persons at
31 December
2025
Maximum
number of
persons
during the
year
Balance at
31 December
2024
Maximum
amount
outstanding
during the
year
Number of
persons at\u00a0
31 December
2024
Maximum
number of
persons
during the
year
\u20ac 000
\u20ac 000
\u20ac 000
\u20ac 000
Tanya Horgan
391
410
4
4
407
428
2
4
Brendan McDonagh
9
9
1
1
9
11
1
1
Helen Normoyle
50
56
3
3
48
53
2
3
Ann O\u2019Brien
29
68
1
1
68
73
1
1
Fergal O\u2019Dwyer1
\u2014
\u2014
\u2014
\u2014
1
27
1
3
Basil Geoghegan
\u2014
\u2014
\u2014
\u2014
1
9
2
2
Andy Maguire
20
23
1
1
23
25
1
1
Donal Galvin
127
145
1
1
140
165
1
1
1. As at 31 December 2025, a guarantee entered into by a connected person of Fergal O\u2019Dwyer in favour of the Group amounted to \u20ac20,000. No amounts were paid or liability incurred in fulfilling the
guarantee.
An expected credit loss allowance is held for all loans and advances. A total expected credit loss allowance of less than \u20ac3,000 was held on the facilities
disclosed in the table above\u00a0 at 31 December 2025 (2024: less than \u20ac20,000).
The value of arrangements at the beginning and end of the financial year as stated above in accordance with Section 307 of the Companies Act 2014,
expressed as a percentage of the net assets of the Group at the beginning and end of the financial year, is less than 1%.
(e) IAS 24 Related Party Disclosures
The following disclosures are made in accordance with the provisions of IAS 24 Related Party Disclosures. Under IAS 24, Key\u00a0Management Personnel
(KMP) are defined as comprising Executive and Non-Executive Directors together with Senior Executive Officers, namely, the members of the Executive
Committee. As at 31 December 2025, the Group had 23 KMP (2024: 27 KMP).
(i) Transactions with Key Management Personnel
Loans to KMP and their close family members (CFM) are made in the ordinary course of business on substantially the same terms, including interest
rates and collateral, as those prevailing at the time for comparable transactions with other persons of similar standing not connected with the Group,
and do not involve more than the normal risk of collectability or present other unfavourable features. Loans to Directors and Senior Executive Officers
are made on terms available to other employees in the Group generally, in accordance with established policy, within limits set\u00a0on a case by case basis.
2025
2024
Balance at
1\u00a0January
2025
Balance at
31 December
20251
Total number
of relevant
KMP/CFM at
1 January
2025
Total number
of relevant
KMP/CFM at
31 December
20251
Balance at
1 January
2024
Balance at
31 December
2024
Total number
of relevant
KMP/CFM at\u00a0
1 January
2024
Total number
of relevant
KMP/CFM at
31 December
2024
\u20ac 000
\u20ac 000
\u20ac 000
\u20ac 000
Loans
2,281
1,373
15
15
1,975
2,281
13
15
Deposits
2,211
1,581
33
32
2,084
2,211
29
33
1. Excludes the KMP not in role, and their CFM, as at 31 December 2025.
Total commitments outstanding refers to the total of any undrawn amounts on credit cards and/or overdraft facilities provided to KMP and their CFM. Total
commitments\u00a0 outstanding as at 31 December 2025 were \u20ac0.08 million (2024: \u20ac0.09 million). An expected credit loss allowance is held for all loans\u00a0and
advances. A total expected credit loss allowance of less than \u20ac500 was held on the facilities disclosed in the table above at 31 December 2025 (2024: \u20ac1,000).
45\u00a0 Related party transactions continued
(e) IAS 24 Related Party Disclosures continued
(ii) Compensation of Key Management Personnel
Details of compensation paid to KMP are provided below. The figures shown include the figures separately reported in respect of Directors\u2019
remuneration on pages 161 and 162.
2025
2024
\u20ac m
\u20ac m
Short term benefits (salaries, fees and other short-term benefits)
8.2
8.4
Post-employment benefits1
1.1
1.1
Termination benefits
0.6
\u2014
Total compensation of key management personnel
9.9
9.5
1. Comprises payments to defined contribution pension schemes, in accordance with actuarial advice, to provide post-retirement pensions.
(f) Transactions with the Irish Government
The Irish Government ceased to be a related party in July 2025 following the reduction of its shareholding to zero and the execution of a deed of release.
This deed released the Group from the undertakings, covenants, and commitments contained in certain agreements, including the Relationship
Framework. The Group is required to disclose related party transactions occurring during 2025 up to the date on which the Irish Government was no
longer a related party, as well as any outstanding balances as at 31 December 2024. These disclosures are presented under the following headings:
\u2013\u00a0 Directed share buyback
The Group has disclosed details of the directed share buyback in note 34.
\u2013 Guarantee schemes
European Communities (Deposit Guarantee Scheme) Regulations 2015
Eligible deposits (including credit balances in current accounts, demand deposit accounts and term deposit accounts) of up to \u20ac100,000 per
depositor per credit institution are covered under this scheme. The scheme is administered by the CBI and is funded by the credit institutions covered
by the scheme.
Strategic Banking Corporation of Ireland Scheme
The Group through its participation in the Strategic Banking Corporation of Ireland (SBCI) Support loan Schemes (the Schemes) benefited from
a\u00a0government guarantee against losses on qualifying finance agreements on amounts advanced under the Schemes during the period when the Irish
Government was a related party. At 31 December 2024, \u20ac481 million was outstanding across individual schemes of which the Future Growth Loan
Scheme, Brexit/COVID-19 Working Capital Loan Schemes, Growth & Sustainability Loan Schemes, Covid-19 and Ukraine Credit Guarantee Scheme
benefited from up to 80% Government guarantee.
Credit Institutions (Eligible Liabilities Guarantee) Scheme 2009
The Credit Institutions (Eligible Liabilities Guarantee) Scheme 2009 was one of various stabilisation measures implemented by the State to support the Irish
banking system including the Group. The Group no longer has any guaranteed liabilities under the scheme, however certain of the covenants in the scheme
continue to apply to the Group including reporting covenants, until the scheme is terminated by the Minister for Finance.
\u2013 NAMA
The General Scheme of the Conclusion of IBRC Special Liquidation and Dissolution of NAMA Bill 2024 (the Bill) was approved by Government on 2 July 2024
and has not been enacted to date. Its purpose is to effect the conclusion of the IBRC Special Liquidation and the dissolution of NAMA. It also makes provision
for the implementation of appropriate arrangements to manage any remaining residual activity of IBRC and NAMA following the conclusion of their work
mandates, including through the creation of a new Resolution Unit within the National Treasury Management Agency (NTMA) to manage any remaining residual
activity. As of December 2025, NAMA had substantially completed its wind-down. The final, formal dissolution is subject to and contingent upon the enactment
of the Bill.
\u2013 Irish bank levy
The bank levy was calculated based on each financial institution\u2019s deposits at December 2022 which were either covered under the Deposit
Guarantee Scheme or were not so covered but had preferential status under Article 108 of the BRRD. The annual levy paid by the Group for 2025 and
reflected in operating expenses (note 10) in the income statement amounted to \u20ac94 million (2024: \u20ac94 million).
\u2013 Other transactions with the Irish Government and entities under its control
In addition to the above matters, the Group also entered into other normal banking transactions with the Irish Government, while it was a related
party, its agencies and entities under its control. This included transactions with (i) Irish Government and related entities, (ii) local government and
commercial semi-state bodies and (iii) financial institutions under Irish Government control/significant influence. Other transactions included the
payment of taxes, pay related social insurance, local authority rates, and the payment of regulatory fees, as appropriate.
45\u00a0 Related party transactions continued
(f) Transactions with the Irish Government continued
(i) Irish Government and related entities
Related entities include departments of the Irish Government located in the State and embassies, consulates and other institutions of the Irish
Government located outside the State. The Post Office Savings Bank (POSB) and the National Treasury Management Agency (NTMA) are also included.
The following table outlines the amounts outstanding at 31 December 2024 with the Irish Government and related entities which are considered
individually significant (excluding accrued interest). As the Irish Government is no longer a related party, the outstanding balances at 31 December 2025
are not disclosed:
2024
\u20ac m
Assets
Cash and balances at central banks1
31,525
Trading portfolio financial assets
71
Investment securities2
4,088
Liabilities
Trading portfolio financial liabilities
257
Deposits and advances from customers
402
1. Cash and balances at central banks represent the placements which the Group holds with the Central Bank.
2. Investment securities comprise \u20ac4,088m in Irish Government securities held in the normal course of business.
(ii) Local government1 and Commercial semi-state bodies2
During 2025, while the Irish Government was a related party, and 2024, the Group entered into banking transactions in the normal course of business
with local government bodies and semi-state bodies. These\u00a0transactions include the granting of loans and the acceptance of deposits, as well as
derivative and clearing transactions.
1. This category includes county councils, city councils, non\u2011commercial public sector entities, public voluntary hospitals and schools.
2. Semi-state bodies is the name given to organisations within the public sector operating with some autonomy. They include commercial organisations or companies in\u00a0which the State is the sole or
main shareholder.
(iii) Financial institutions under Irish Government control/significant influence
The Irish Government has a controlling interest in Permanent tsb plc. The Minister for Finance (on behalf of the Irish Government) is the shareholder of Irish
Bank Resolution Corporation Limited\u00a0 and has statutory powers of direction under the Irish Bank Resolution Corporation Act 2013 but operational control rests
with the Special Liquidators. While the Irish Government was a related party, balances between these financial institutions and the Group were
considered related party transactions in accordance with IAS 24. The transactions with these institutions included the short-term placing and
acceptance of deposits, derivative transactions, investment debt securities and repurchase agreements.
The following balances were outstanding in total to these financial institutions at 31 December 2024. As the Irish Government is no longer a related
party, the outstanding balances at 31 December 2025 are not disclosed.
2024
\u20ac m
Assets
Trading portfolio financial assets
5
(g) Indemnities
The Group has indemnified the Directors of Allied Irish Banks Pensions Limited and AIB DC Pensions (Ireland) Limited, the trustees of the Group\u2019s
Ireland defined benefit pension scheme and defined contribution pension scheme, respectively, against any actions, claims or demands arising out
of\u00a0their actions as Directors of the trustee companies, other than by reason of wilful default.
", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-670": { "value": "
45\u00a0 Related party transactions\u00a0
Related parties in the Group include the parent company and controlling party (AIB Group plc), subsidiary undertakings, associated undertakings, joint
arrangements, post-employment benefits, Key Management Personnel and connected parties. The registered office of AIB Group plc is at\u00a010
Molesworth Street, Dublin 2.
(a) Transactions with subsidiary undertakings
AIB Group plc is the ultimate parent company of the Group. Banking transactions between the parent company and its subsidiaries and between
subsidiaries are entered into in the normal course of business. These include loans, deposits, provision of derivative contracts, foreign currency
contracts and the provision of guarantees on an \u2018arm\u2019s length basis\u2019. Furthermore, pricing arrangements between Allied Irish Banks, p.l.c. and certain
Irish subsidiaries, and between certain Irish subsidiaries reflect revised OECD guidelines on transfer pricing, which are the internationally accepted
principles in this area, and take account of the functions, risks and assets involved. Transactions between the parent company and its subsidiaries and
between subsidiaries have been eliminated on consolidation.
(b) Associated undertakings and joint venture
From time to time, the Group provides certain banking and financial services for associated undertakings. These transactions are made in the ordinary
course of business on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions
with other persons and do not involve more than the normal risk of collectability or present other unfavourable features. Details of loans to associates
and joint venture are set out in notes 17 and 28 to the consolidated financial statements.
(c) Provision of banking and related services and funding to Group pension schemes
The Group provides certain banking and financial services including money transmission services for the AIB Group pension schemes and a UK pension
funding partnership, AIB PFP Scottish Limited Partnership (SLP). Such services are provided in the ordinary course of business, on substantially the
same terms, including interest rates, as those prevailing at the time for comparable transactions with other persons.
45\u00a0 Related party transactions continued
(d) Companies Act 2014 disclosures
(i) Loans to Directors
The following information is presented in accordance with the Companies Act 2014. For the purposes of the Companies Act disclosures, any\u00a0Director
means a current member of the Board of Directors and individual who was a Director during the relevant period.
Where no amount is shown in the tables below, this indicates either a credit balance, a balance of Nil, or a balance of less than \u20ac500. Balances and
repayments include principal and interest.
Details of transactions with Directors for the year ended 31 December 2025 and 2024 are as follows:
2025
2024
Balance at
1 January
2025
Amounts
advanced
during
2025
Amounts
repaid
during
2025
Balance at
31 December
2025
Balance at
1 January
2024
Amounts
advanced
during
2024
Amounts
repaid
during
2024
Balance at
31 December
2024
\u20ac 000
\u20ac 000
\u20ac 000
\u20ac 000
\u20ac 000
\u20ac 000
\u20ac 000
\u20ac 000
Tanya Horgan
Loans
41
\u2014
(7)
34
43
\u2014
(2)
41
Overdraft/credit card1
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Total
41
\u2014
(7)
34
43
\u2014
(2)
41
Interest charged during the year
2
3
Maximum debit balance during the year2
41
43
Colin Hunt
Loans
550
\u2014
(48)
502
597
\u2014
(47)
550
Overdraft/credit card1
16
\u2014
\u2014
7
15
\u2014
\u2014
16
Total
566
\u2014
(48)
509
612
\u2014
(47)
566
Interest charged during the year
14
15
Maximum debit balance during the year2
576
620
Ann O'Brien
Loans
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Overdraft/credit card1
1
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
1
Total
1
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
1
Interest charged during the year
\u2014
\u2014
Maximum debit balance during the year2
1
2
Helen Normoyle
Loans
\u2014
\u2014
\u2014
\u2014
\u2014
264
(264)
\u2014
Overdraft/credit card1
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Total
\u2014
\u2014
\u2014
\u2014
0
\u2014
264
(264)
\u2014
Interest charged during the year
\u2014
2
Maximum debit balance during the year2
\u2014
267
Basil Geoghegan
Loans
627
\u2014
(627)
\u2014
\u2014
663
(37)
627
Overdraft/credit card1
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Total
627
\u2014
(627)
\u2014
\u2014
663
(37)
627
Interest charged during the year
15
13
Maximum debit balance during the year2
627
669
1. Amounts advanced and repaid are not shown for overdraft/credit card facilities as these are revolving in nature (i.e. they may be drawn, repaid and redrawn up to their limit over the course of the year).
2. The maximum debit balance is calculated by aggregating the maximum debit balance drawn on each facility during the year.
45\u00a0 Related party transactions continued
(d) Companies Act 2014 disclosures continued
(i) Loans to Directors continued
Anik Chaumartin, Donal Galvin, Sandy Kinney Pritchard, Andy Maguire, Elaine MacLean, Brendan McDonagh, Jim Pettigrew, Jan Sijbrand, Fergal
O\u2019Dwyer, Raj Singh and Anne Sheehan had no credit facilities with the Group in 2025.
All loans to Directors and their connected persons are made in the ordinary course of business on substantially the same terms, including interest rates
and collateral, as those prevailing at the time for similar transactions with other persons unconnected with the Group and of similar financial standing
and do not involve more than normal risk of collectability. All facilities are performing to their terms and conditions.
An expected credit loss allowance is held for all loans and advances. A total expected credit loss allowance of less than \u20ac500 was held on the facilities
disclosed in the preceding table at 31 December 2025 (2024: less than \u20ac500).
(ii) Connected persons
The aggregate of loans to connected persons of Directors in office during the year ended 31 December 2025 and 2024 are set out in the table below. Loans
to connected persons of Directors in office during the year have not been disclosed if their balance did not exceed \u20ac7,500 in the year.
2025
2024
Balance at
31 December
2025
Maximum
amount
outstanding
during the
year
Number of
persons at
31 December
2025
Maximum
number of
persons
during the
year
Balance at
31 December
2024
Maximum
amount
outstanding
during the
year
Number of
persons at\u00a0
31 December
2024
Maximum
number of
persons
during the
year
\u20ac 000
\u20ac 000
\u20ac 000
\u20ac 000
Tanya Horgan
391
410
4
4
407
428
2
4
Brendan McDonagh
9
9
1
1
9
11
1
1
Helen Normoyle
50
56
3
3
48
53
2
3
Ann O\u2019Brien
29
68
1
1
68
73
1
1
Fergal O\u2019Dwyer1
\u2014
\u2014
\u2014
\u2014
1
27
1
3
Basil Geoghegan
\u2014
\u2014
\u2014
\u2014
1
9
2
2
Andy Maguire
20
23
1
1
23
25
1
1
Donal Galvin
127
145
1
1
140
165
1
1
1. As at 31 December 2025, a guarantee entered into by a connected person of Fergal O\u2019Dwyer in favour of the Group amounted to \u20ac20,000. No amounts were paid or liability incurred in fulfilling the
guarantee.
An expected credit loss allowance is held for all loans and advances. A total expected credit loss allowance of less than \u20ac3,000 was held on the facilities
disclosed in the table above\u00a0 at 31 December 2025 (2024: less than \u20ac20,000).
The value of arrangements at the beginning and end of the financial year as stated above in accordance with Section 307 of the Companies Act 2014,
expressed as a percentage of the net assets of the Group at the beginning and end of the financial year, is less than 1%.
(e) IAS 24 Related Party Disclosures
The following disclosures are made in accordance with the provisions of IAS 24 Related Party Disclosures. Under IAS 24, Key\u00a0Management Personnel
(KMP) are defined as comprising Executive and Non-Executive Directors together with Senior Executive Officers, namely, the members of the Executive
Committee. As at 31 December 2025, the Group had 23 KMP (2024: 27 KMP).
(i) Transactions with Key Management Personnel
Loans to KMP and their close family members (CFM) are made in the ordinary course of business on substantially the same terms, including interest
rates and collateral, as those prevailing at the time for comparable transactions with other persons of similar standing not connected with the Group,
and do not involve more than the normal risk of collectability or present other unfavourable features. Loans to Directors and Senior Executive Officers
are made on terms available to other employees in the Group generally, in accordance with established policy, within limits set\u00a0on a case by case basis.
2025
2024
Balance at
1\u00a0January
2025
Balance at
31 December
20251
Total number
of relevant
KMP/CFM at
1 January
2025
Total number
of relevant
KMP/CFM at
31 December
20251
Balance at
1 January
2024
Balance at
31 December
2024
Total number
of relevant
KMP/CFM at\u00a0
1 January
2024
Total number
of relevant
KMP/CFM at
31 December
2024
\u20ac 000
\u20ac 000
\u20ac 000
\u20ac 000
Loans
2,281
1,373
15
15
1,975
2,281
13
15
Deposits
2,211
1,581
33
32
2,084
2,211
29
33
1. Excludes the KMP not in role, and their CFM, as at 31 December 2025.
Total commitments outstanding refers to the total of any undrawn amounts on credit cards and/or overdraft facilities provided to KMP and their CFM. Total
commitments\u00a0 outstanding as at 31 December 2025 were \u20ac0.08 million (2024: \u20ac0.09 million). An expected credit loss allowance is held for all loans\u00a0and
advances. A total expected credit loss allowance of less than \u20ac500 was held on the facilities disclosed in the table above at 31 December 2025 (2024: \u20ac1,000).
45\u00a0 Related party transactions continued
(e) IAS 24 Related Party Disclosures continued
(ii) Compensation of Key Management Personnel
Details of compensation paid to KMP are provided below. The figures shown include the figures separately reported in respect of Directors\u2019
remuneration on pages 161 and 162.
2025
2024
\u20ac m
\u20ac m
Short term benefits (salaries, fees and other short-term benefits)
8.2
8.4
Post-employment benefits1
1.1
1.1
Termination benefits
0.6
\u2014
Total compensation of key management personnel
9.9
9.5
1. Comprises payments to defined contribution pension schemes, in accordance with actuarial advice, to provide post-retirement pensions.
(f) Transactions with the Irish Government
The Irish Government ceased to be a related party in July 2025 following the reduction of its shareholding to zero and the execution of a deed of release.
This deed released the Group from the undertakings, covenants, and commitments contained in certain agreements, including the Relationship
Framework. The Group is required to disclose related party transactions occurring during 2025 up to the date on which the Irish Government was no
longer a related party, as well as any outstanding balances as at 31 December 2024. These disclosures are presented under the following headings:
\u2013\u00a0 Directed share buyback
The Group has disclosed details of the directed share buyback in note 34.
\u2013 Guarantee schemes
European Communities (Deposit Guarantee Scheme) Regulations 2015
Eligible deposits (including credit balances in current accounts, demand deposit accounts and term deposit accounts) of up to \u20ac100,000 per
depositor per credit institution are covered under this scheme. The scheme is administered by the CBI and is funded by the credit institutions covered
by the scheme.
Strategic Banking Corporation of Ireland Scheme
The Group through its participation in the Strategic Banking Corporation of Ireland (SBCI) Support loan Schemes (the Schemes) benefited from
a\u00a0government guarantee against losses on qualifying finance agreements on amounts advanced under the Schemes during the period when the Irish
Government was a related party. At 31 December 2024, \u20ac481 million was outstanding across individual schemes of which the Future Growth Loan
Scheme, Brexit/COVID-19 Working Capital Loan Schemes, Growth & Sustainability Loan Schemes, Covid-19 and Ukraine Credit Guarantee Scheme
benefited from up to 80% Government guarantee.
Credit Institutions (Eligible Liabilities Guarantee) Scheme 2009
The Credit Institutions (Eligible Liabilities Guarantee) Scheme 2009 was one of various stabilisation measures implemented by the State to support the Irish
banking system including the Group. The Group no longer has any guaranteed liabilities under the scheme, however certain of the covenants in the scheme
continue to apply to the Group including reporting covenants, until the scheme is terminated by the Minister for Finance.
\u2013 NAMA
The General Scheme of the Conclusion of IBRC Special Liquidation and Dissolution of NAMA Bill 2024 (the Bill) was approved by Government on 2 July 2024
and has not been enacted to date. Its purpose is to effect the conclusion of the IBRC Special Liquidation and the dissolution of NAMA. It also makes provision
for the implementation of appropriate arrangements to manage any remaining residual activity of IBRC and NAMA following the conclusion of their work
mandates, including through the creation of a new Resolution Unit within the National Treasury Management Agency (NTMA) to manage any remaining residual
activity. As of December 2025, NAMA had substantially completed its wind-down. The final, formal dissolution is subject to and contingent upon the enactment
of the Bill.
\u2013 Irish bank levy
The bank levy was calculated based on each financial institution\u2019s deposits at December 2022 which were either covered under the Deposit
Guarantee Scheme or were not so covered but had preferential status under Article 108 of the BRRD. The annual levy paid by the Group for 2025 and
reflected in operating expenses (note 10) in the income statement amounted to \u20ac94 million (2024: \u20ac94 million).
\u2013 Other transactions with the Irish Government and entities under its control
In addition to the above matters, the Group also entered into other normal banking transactions with the Irish Government, while it was a related
party, its agencies and entities under its control. This included transactions with (i) Irish Government and related entities, (ii) local government and
commercial semi-state bodies and (iii) financial institutions under Irish Government control/significant influence. Other transactions included the
payment of taxes, pay related social insurance, local authority rates, and the payment of regulatory fees, as appropriate.
45\u00a0 Related party transactions continued
(f) Transactions with the Irish Government continued
(i) Irish Government and related entities
Related entities include departments of the Irish Government located in the State and embassies, consulates and other institutions of the Irish
Government located outside the State. The Post Office Savings Bank (POSB) and the National Treasury Management Agency (NTMA) are also included.
The following table outlines the amounts outstanding at 31 December 2024 with the Irish Government and related entities which are considered
individually significant (excluding accrued interest). As the Irish Government is no longer a related party, the outstanding balances at 31 December 2025
are not disclosed:
2024
\u20ac m
Assets
Cash and balances at central banks1
31,525
Trading portfolio financial assets
71
Investment securities2
4,088
Liabilities
Trading portfolio financial liabilities
257
Deposits and advances from customers
402
1. Cash and balances at central banks represent the placements which the Group holds with the Central Bank.
2. Investment securities comprise \u20ac4,088m in Irish Government securities held in the normal course of business.
(ii) Local government1 and Commercial semi-state bodies2
During 2025, while the Irish Government was a related party, and 2024, the Group entered into banking transactions in the normal course of business
with local government bodies and semi-state bodies. These\u00a0transactions include the granting of loans and the acceptance of deposits, as well as
derivative and clearing transactions.
1. This category includes county councils, city councils, non\u2011commercial public sector entities, public voluntary hospitals and schools.
2. Semi-state bodies is the name given to organisations within the public sector operating with some autonomy. They include commercial organisations or companies in\u00a0which the State is the sole or
main shareholder.
(iii) Financial institutions under Irish Government control/significant influence
The Irish Government has a controlling interest in Permanent tsb plc. The Minister for Finance (on behalf of the Irish Government) is the shareholder of Irish
Bank Resolution Corporation Limited\u00a0 and has statutory powers of direction under the Irish Bank Resolution Corporation Act 2013 but operational control rests
with the Special Liquidators. While the Irish Government was a related party, balances between these financial institutions and the Group were
considered related party transactions in accordance with IAS 24. The transactions with these institutions included the short-term placing and
acceptance of deposits, derivative transactions, investment debt securities and repurchase agreements.
The following balances were outstanding in total to these financial institutions at 31 December 2024. As the Irish Government is no longer a related
party, the outstanding balances at 31 December 2025 are not disclosed.
2024
\u20ac m
Assets
Trading portfolio financial assets
5
(g) Indemnities
The Group has indemnified the Directors of Allied Irish Banks Pensions Limited and AIB DC Pensions (Ireland) Limited, the trustees of the Group\u2019s
Ireland defined benefit pension scheme and defined contribution pension scheme, respectively, against any actions, claims or demands arising out
of\u00a0their actions as Directors of the trustee companies, other than by reason of wilful default.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-672": { "value": "
46\u00a0 Employees
The following table shows the geographical analysis of the average number of employees for 2025 and 2024:
Average number of staff (Full time equivalents)
2025
2024
Ireland
9,591
9,902
United Kingdom
720
718
United States of America
36
35
Total
10,347
10,655
The following table shows the segmental analysis of the average number of employees for 2025 and 2024:
2025
2024
Retail Banking
4,104
4,084
Capital Markets
1,348
1,676
Climate & Infrastructure Capital
107
76
AIB UK
618
625
Group
4,170
4,194
Total1
10,347
10,655
1. The average number of employees excludes employees on career breaks and other unpaid long-term leaves.
Actual full time equivalent numbers at 31 December 2025 were 10,207 (2024: 10,469).", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-673": { "value": "
49\u00a0 Dividends
A final dividend for the year ended 31 December 2024 of 36.984 cent per ordinary share, amounting to \u20ac861 million (for the year ended 31\u00a0December
2023: \u20ac696 million), was approved at the Annual General Meeting on 1 May 2025 and subsequently paid on 9 May 2025. An interim dividend of 12.328
cent per ordinary share, equivalent to \u20ac263 million was paid on 11 November 2025. Final\u00a0dividends are not accounted for until they have been approved
at the Annual General Meeting of shareholders.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-674": { "value": "0.36984", "decimals": 5, "dimensions": { "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "f-675": { "value": "0.12328", "decimals": 5, "dimensions": { "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "f-677": { "value": "
50\u00a0 Non-adjusting events after the reporting period
No significant non-adjusting events have taken place since 31 December 2025.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-676": { "value": "
50\u00a0 Non-adjusting events after the reporting period
No significant non-adjusting events have taken place since 31 December 2025.
", "dimensions": { "concept": "ifrs-full:DisclosureOfNonadjustingEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-678": { "value": "
51\u00a0 Approval of the Financial Statements
The financial statements were approved by the Board of Directors on 3 March 2026", "dimensions": { "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:635400AKJBGNS5WNQL34", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fn-1": { "value": "Net cash flow from operating activities, includes interest received of \u20ac4,880m (2024: \u20ac5,354m) and interest paid of \u20ac637m (2024: \u20ac466m).", "dimensions": { "concept": "xbrl:note", "noteId": "fn-1", "language": "en" } }, "fn-2": { "value": "Relates to debt securities classified at origination as MREL.", "dimensions": { "concept": "xbrl:note", "noteId": "fn-2", "language": "en" } } } }