Commerzbank Stockbrokers in London is recommending AIB as a buy for investors. The bank's results were broadly in line with market expectations and despite concerns about how the bank will be affected by a slowdown in the US economy, the brokers suggest it is capable of achieving double-digit earnings growth in 2001. It states that the market is fundamentally mis-valuing the bank's potential.

At €14 a share, Commerzbank believes the shares represent good value for investors. It also advises investors to accumulate Lloyds TSB stock and has raised its share price target to £7.15 sterling, up 3 per cent.