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Increase in pre-tax profits for Bank of Ireland
31/07/2008
The Bank of Ireland has reported an increase its pre-tax profits for the first half of this year.
Profits were worth close to €124 million (£97.8 million) over the course of the first six months of this year, which represents an increase of around five per cent compared with the same period in 2007.
Customer deposits made into the banks various facilities fell by around 18 per cent during the assessed period, while lending increased by a quarter in the retail banking sector and by 15 per cent in the corporate sector.
Overall, the bank described the figures as being solid enough for the trading period in light of the difficulties being felt within global financial markets.
Solicitors in Northern Ireland have been dealing with issues relating to the property sector and the troubles in the industry of late saw the Bank of Scotland reduce its exposure to buy to let loans in Ireland.
The Bank of Ireland estimates that 31 per cent of its profits are generated in the UK, 59 per cent from the Republic of Ireland and ten per cent from the rest of the world.
Contact us for legal advice
Profits were worth close to €124 million (£97.8 million) over the course of the first six months of this year, which represents an increase of around five per cent compared with the same period in 2007.
Customer deposits made into the banks various facilities fell by around 18 per cent during the assessed period, while lending increased by a quarter in the retail banking sector and by 15 per cent in the corporate sector.
Overall, the bank described the figures as being solid enough for the trading period in light of the difficulties being felt within global financial markets.
Solicitors in Northern Ireland have been dealing with issues relating to the property sector and the troubles in the industry of late saw the Bank of Scotland reduce its exposure to buy to let loans in Ireland.
The Bank of Ireland estimates that 31 per cent of its profits are generated in the UK, 59 per cent from the Republic of Ireland and ten per cent from the rest of the world.
Contact us for legal advice
