Anglo Irish Bank -
Preliminary Results for the Year to 30 September 2003
Anglo Irish Bank today (Wednesday 26 November 2003) published its preliminary statement for the year to 30 September 2003.
- Pre-tax profits increased by 33% to €346.5 million (2002: €261.3 million)
- Basic earnings per share rose by 34% to 78.03 cent (2002: 58.14 cent)
- Total assets increased by 31% to €25.5 billion (2002: €19.4 billion)
- Lending to customers increased by 34% on a constant currency basis to €18.1 billion
- Tier One Capital stands at 8.5%
- Final dividend proposed of 13.93 cent bringing total dividend for the year to 18.80 cent, an increase of 50% on 2002
Commenting on the results, Sean FitzPatrick, Group Chief Executive, said:
"These exceptional results were accomplished against the backdrop of moderate economic growth in our key markets.
Loans to customers increased by €4.6 billion net on a constant currency basis, the strongest growth in the history of the Group. Asset quality remains robust and given the quality and our expectations concerning potential losses arising, we feel it is unlikely we will need to make a general provision charge in the next few years. We will of course keep this under review.
Given the strength and consistency of the Group's performance together with our confidence for the future, the Board is recommending a 50% increase in total dividend. This establishes a higher base on which to continue our progressive dividend policy in the future.
The performance so far in the current year is very encouraging. Work in progress is at record levels and I look forward to a strong outcome for the year to September 2004."
Contact our Investor Relations Team for more information
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