AIB profits were around 50% off after providing for the the losses incurred by rogue trader John Rusnak.
Six Allfirst officials were sacked as a result of the affair, although no-one fell on a sword in Dublin.
Rusnak is now believed to be co-operating with federal investigators and has yet to be charged with any crime. It is still unclear whether his actions were an attempt at fraud or just plain incompetence.
Scandal-Hit Bank Scraps Bonuses
Five senior executives at Allied Irish Banks (AIB) did not receive a bonus in 2001. The move was designed to placate shareholders who were demanading blood after the recent $691m FX trading scandal at Maryland subsidiary Allfirst.
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