I am very pleased to be able to report that the Bank has achieved excellent results for the first half of its financial year.

The highlights for the six months to 31 March 2001 are as follows: -

• Pre-tax profits increased by 48% to €90.5 million
• Attributable profit increased by 55% to €58.9 million
• Basic EPS increased by 51% to 20.3c
• Lending increased by 21%
• Customer deposits grew by 26%

These results have been achieved in an increasingly competitive environment and reflect the strong franchise that your Bank has in its chosen niche markets. The core lending and treasury businesses continue to trade exceptionally well in both Ireland and the UK. In addition, the businesses of asset management, private banking, corporate foreign exchange and trade finance are now making significant contributions to group profitability.

Dividend

The Board has declared an interim dividend of 3.6c per share, an increase of 16% on last year’s interim dividend. This interim dividend will be posted on 16 July 2001 to shareholders on the Bank’s register at the close of business on 11 May 2001. Withholding tax may apply on the interim dividend depending on the tax status of each shareholder. Shareholders will again be given the option of receiving additional ordinary shares instead of a cash dividend.

Next »

back to latest results