Allied Irish Banks is still targeting a low single-digit percentage increase in 2008 adjusted earnings per share, chairman Dermot Gleeson told shareholders at the company's annual meeting in Dublin today.
"In common with other banks, however, the actual outcome could be affected by highly volatile conditions and their potential effect on our business, funding and the market value of our assets," Mr Gleeson said this afternoon in a statement.
Mr Gleeson said however that AIB had no need to seek extra capital from shareholders.
"Let me assure you that AIB is performing very well in the three areas of capital, funding and asset quality and so will be well positioned to benefit when the markets eventually recover."
Gleeson described the bank's residential mortgage loan book as a "very solid and resilient portfolio with a very low level of arrears."
AIB's commercial property and construction portfolio was well diversified and well spread geographically, he said.
"Our goal is to maintain a progressive dividend policy, whereby we pay around 40 percent of the profit attributable to shareholders in dividends," he added.
In line with Ireland's other banks, shares in AIB have almost halved in value since hitting a record high of 24.39 euros just over a year ago as global market turmoil compounded worries over Ireland's slowing property market.
The company's Dublin shares were trading 0.8 per cent higher by 1.22pm on €13.25, while the wider Irish market was marginally ahead at 6,238.