Irish banks took in €108m in charges, fees in Q1

Thursday 29 May 2014 18.38
Total profits for all banks resident in Ireland - domestic and IFSC banks - was €215m in the first quarter
Total profits for all banks resident in Ireland - domestic and IFSC banks - was €215m in the first quarter

Irish banks took in €108m in bank charges and fees in the first three months of this year, according to figures from the Central Bank of Ireland. 

This is a 19% rise compared with the same period last year.

During the first quarter of the year, total profits for all banks resident in Ireland - domestic and IFSC banks - was €215m.

In Q1 2014, banking offices resident in Ireland reported a cumulative total operating income of €2.5bn, a decrease of almost 16% on the previous year.

Since Q1 2013, interest income has fallen by 17% while account fees and charges have increased by nearly 19%, albeit from a low base, to €113m.

Domestic market banks account for 96% of account fees and charges.

In Q1 2014, General operating expenses have decreased from Q1 2013 by 26% to €1.3bn.

Total profits for all banking offices resident in Ireland was €215m.