First Active has reported pre-tax profits of €54.4m for last year, an increase of 32%. Earnings per share rose from 23.8 cent to 32.6 cent, while a 15% higher dividend of 13.55 cent has been declared.
The bank said the profit improvement was largely due to the 'rigorous' control of costs, along with an increase in the scale of the business.
Total customer loans and advances were up from €5.7bn to €6.5bn.
First Active said the outlook was positive for the year ahead, as it had moved away from products and services in which it had limited scale.
Its Irish operations generated 48.5% higher profits of €34.9m following a restructuring of the business in 2000. New residential mortgage lending was up 6% to €1.2bn.
On the savings side, customer accounts grew by 5.6% to €3.8bn.
First Active shares closed 14 cent higher at €3.75 in Dublin this evening.
