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AIB Group
110 EuroWeek Financing financial institutions
AIB Group
Debt issuance
Source: Dealogic. Data to August 20 2010
-
2,000
4,000
6,000
8,000
10,000
12,000
2005 2006 2007 2008 2009 2010
Covered bonds Subordinated debt
Senior unsecured Securitisation
$m
Debt issuance
Guarantor: Ireland
Pricing date: March11,2010
Value: €1bn
Maturity date: March19,2012
coupon: 3mEuribor+105bp
bookrunners: CreditSuisse,DeutscheBank,JPMorgan,SGCorporate&InvestmentBanking
Guarantor: Ireland
Pricing date: March11,2010
Value: €2bn
Maturity date: March19,2015
coupon: 4%
spread to swaps: 155bp
bookrunners: CreditSuisse,DeutscheBank,JPMorgan,SG
Guarantor: Ireland
Pricing date: January28,2010
Value: €1.5bn
Maturity date: February4,2013
coupon: 3.25%
spread to swaps: 130bp
bookrunners: BNPParibas,DeutscheBank,DZBank,JPMorgan
Source: Dealogic
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
2010
20
11
2012
20
13
2014
20
15
2016
20
17
2018
20
19
2020
2021
-2040
2041
+
Source: Dealogic. Data to September 1, 2010 (securitisations not included)
$m
Maturity Profile
rank lead Manager amount $m no of issues
% share
1 JPMorgan 2,938 6 22.89
2 Allied Irish Banks plc
2,821 1 21.98
3 Deutsche Bank 2,215 6 17.26
4 Credit Suisse 1,295 3 10.09
5 SG Corporate & Investment Banking
1,019 2 7.94
6 BNP Paribas 923 4 7.19
7 DZ Bank 894 2 6.96
8 Morgan Stanley 412 1 3.21
9 HSBC 285 2 2.22
10 LBBW 34 3 0.27
subtotal 12,836 14 100
total 12,836 14 100
Source: Dealogic (Sep 20, 2009 to Sep 19, 2010)
toP bookrunners
recent Deals
Actual t
ier one
(2009)
Benchmark sc
enario
Adverse
scenario
Additional
sovereig
n shock
Source: Committee of European Banking Supervisors
%
7
9.5
7.2 6.5
0
1
2
3
4
5
6
7
8
9
10
cebs stress tests
0.0
2.0
4.0
6.0
8.0
10.0
12.0
Tier one capital Total capital
2005 2006 2007 2008 2009
%
Source: AIB
caPital ratios
cfoBernard Byrne+353 1 660 0311
General manager, group financeAlan Kelly +353 1 641 [email protected]
Group investor relations managerRose O’Donovan +353 1 641 4191rose.m.o’[email protected]
key contacts
AIB Group
Financing financial institutions EuroWeek 111
-1.5
-1
-0.5
0
0.5
1
1.5
2
2005 2006 2007 2008 2009
%
Return on average total assets. Source: AIB
return on assets
allied irish banks plc
long term iDr a-short term iDr f1individual rating D/esupport rating 1support rating floor a-
summary:The rating of Allied Irish Bank Plc reflects an extremely high probability of continuing support from the Irish authorities. This view is based on the bank’s large holdings of customer deposits, its inclusion in the government’s guaranteed funding schemes and NAMA, and the government’s 18.6% stake in the bank. Fitch expects the government stake to increase after AIB completes its capital raising in response to the Prudential Capital Assessment Review. Fitch expects that the bank will be able to raise capital without making further demands on the Irish state. AIB plans to raise much of the capital necessary through the sale of its UK business, its majority stake in Polish bank BZWBK and its minority stake in American bank M&T Bank Corporation. It also plans to raise capital from shareholders. Any remaining capital shortfall would be met by the government converting some or all of its Eu3.5bn preference shares into equity, which would probably give the Irish state a majority stake in the bank.
fitch ratinGs uPDate
-3,000
-2,000
-1,000
0
1,000
2,000
3,000
2005 2006 2007 2008 2009 1H10
Operating profit Net income Pre-tax profit
Eu m
Source: AIB
incoMe stateMent
0
30
60
90
120
160
190
220
2005 2006 2007 2008 2009
Eu bn
Source: AIB
total assets
0
2,000
4,000
6,000
8,000
10,000
12,000
AIB Bank ROI
Capital markets
AIB BankUK
CEE
NAMA Non-NAMA
Eu m
First half 2010. Source: AIB
iMPaireD loans by DiVision
-3,000
-2,500
-2,000
-1,500
-1,000
-500
0
500
1,000
AIB Bank ROI
Capital markets
AIB BankUK
CEE Group
Eu m
First half 2010. Source: AIB
Pre-tax Profit/loss by DiVision
0.0
20.0
40.0
60.0
80.0
100.0
120.0
140.0
160.0
180.0
Loans & receivables* Deposits**
2005 2006 2007 2008 2009
Eu bn
*To banks and customers. **Deposits by banks, customer accounts and debt securities in issue. Source: AIB
loans / DePosits
0.00
0.50
1.00
1.50
2.00
2.50
2005 2006 2007 2008 2009
%
Source: AIB
net interest MarGin
0
5
-5
-10
-15
-20
-25
-30
10
15
20
25
30
35
2005 2006 2007 2008 2009
%
Return on average ordinary shareholders' equity. Source: AIB
return on equity
