Bank of Ireland in 2015 recorded a 30 percent rise in profits

Bank of Ireland, one of the traditional "big four" Irish banks, on Monday reported an underlying profit of 1.2 billion euros (1.3 billion U.S. dollars) for 2015, up 30 percent on the previous year's figure of 921 million euros.


In its annual report, the bank said it continued to be the largest lender in the country with 6.9 billion euros of new loans issued in 2015.

First Capital Plus' new status brings the total number of commercial banks in the country to 27.

It said all of its trading divisions were profitable during the year, while it has also continued to strengthen its capital position.

The bank said it reduced its non-performing loans by a further 3.8 billion euros, adding that it anticipates further reductions in non-performing loans this year and beyond.

“With our strong franchises, we are well positioned to meet credit demand which is recovering as the Irish economy grows and confidence returns,” said the bank’s CEO Richie Boucher.

He said the bank has maintained its progress towards dividends and has updated its distribution policy.

Source: Xinhua, February 23, 2016

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