Live news updates from July 31: Eurozone inflation falls to 5.3%, Birkenstock considers September IPO

Date:

© AFP via .

Bank of Ireland, the nation’s largest bank, more than tripled its first-half pre-tax profits to €1.03bn, boosted by higher interest rates, Ireland’s buoyant economy and the absorption of customers from KBC bank, which has exited the country.

“We are now six months into our three-year strategy,” chief executive Myles O’Grady said. “Our strong results show the progress we are making, and our delivery for customers, colleagues, shareholders and society.”

Net interest income rose to €1.8bn from €1.1bn. Net profit for the period was €853mn, compared with €293mn and the bank said it expected net interest income in the second half to be “modestly higher” than its first-half performance.

The bank’s loan book has increased by €8.7bn to €80.7bn since December, it said.

Share post:

Subscribe

Popular

More like this
Related

Texas Tech rallies to best Mountaineers | News, Sports, Jobs

Photo courtesy of BlueGoldNews.com WVU’s Jesse Edwards goes up for...

US issues Mexico travel warning as spring break looms

As the spring break vacation looms, the United States...

As banks buy up bitcoins, who else are the ‘Bitcoin whales’?

Image source, .By Joe Tidy & The Visual Journalism...

FTC’s suit against Kroger-Albertsons merger will have a ‘chilling effect’ on M&A activity

Capital One’s (COF) $35 billion deal for Discover Financial...