The Chief Executive of AIB says he expects more job losses at the bank this year. David Duffy was speaking after AIB end-of-year results for 2013 showed that losses were cut by more than half to €1.7 billion.

The figures show the bank is meeting its targets for mortgage restructuring and SME arrears. Operating expenses were down by 16% or €278 million. and staff costs fell by 18%.

The bank says its pre-provision operating profit was €445 million last year, which is €769 million higher than 2012.

CEO David Duffy told Newstalk's business editor Ian Guider that AIB still needs to cut costs but cannot put a figure on how many jobs will be lost.