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Anglo Irish Bank profits up 48%

Sean Fitzpatrick - Confident for full year
Sean Fitzpatrick - Confident for full year

Anglo Irish Bank has reported pre-tax profits of €228.6m for  the six months to the end of March, up 48% on the same period a year earlier.

Customer deposits grew by 18%, and there was a 15% rise in lending to €21.3 billion. The increase of €2.8 billion was a record for any six-month period.

Chief executive Sean Fitzpatrick said the quality of the loan book was strong, with bad debt charges of €9.6m.

He said the record level of work in progress, at €3.4 billion, pointed to a strong outcome for the full year.

Earnings per share were rose 53% to 51.42 cent and a 54% higher interim dividend of 7.52 cent has been declared.

The shares closed unchanged at €13.52 in Dublin this evening.