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Anglo Irish Bank Annual Profits Rise By 50%

Anglo Irish Bank has reported a 50% increase in pre-tax profits to 133.6m euros for the year to the end of September.

Earnings per share were up 38% to 29.73 cents, while the total dividend was 2% higher at 8.7 cents.

Group chief executive Sean Fitzpatrick said all the bank's operations had contributed to the growth.

Referring to the unsuccessful merger talks with First Active earlier this year, Anglo said this did not signify any change in its strategy of providing services to niche markets.

It added that the consolidation of the financial services industry across Europe would create opportunities for further acquisitions.