AIB has reported a loss after tax of €741m for the year to the end of December on the back of an expected credit loss charge of €1.460 billion and exceptional items of €215m.
The bank said the challenging operating environment for European banks remained in 2020 with the continued lower for longer interest rate backdrop and uncertainties created by the Covid-19 pandemic.
AIB said that 66,000 retail banking payment breaks were granted to its customers to help support them during the Covid-19 crisis, adding that 88% of these have returned to normal terms.
Its total income reduced by 12% for the year, which it said reflected a 10% decline in Net Interest Income (NII) and a 19% decline in other income.