Bank of Ireland has reported pre-tax profits of €1.6 billion for the year to the end of March. It represents an increase of 31% on the previous year.
When the effects of sell-offs and restructuring costs are stripped out, profits are up 16% to just under €1.4 billion.
Profits at BoI's retail banks in the Republic rose by 18% to €550m, driven by higher volumes of business and higher fees. Total lending was up 23%, while mortgage lending growth was 27%.
BoI Life profits jumped 65% to €134m on 30% higher sales of €387m. The result was helped by the strong stock market performance.
The bank has recently been criticised by unions for announcing changes in its pension arrangements for new staff.
