Profits at British bank Northern Rock rose 14% to just over £200m in the first half of this year, slightly lower than analysts had expected.
Northern Rock has cashed in on Britain's booming mortgage market, which has been fuelled by low interest rates and borrowing for consumer spending.
With interest rates rising, some analysts are concerned the bank may have to work harder to maintain loan volumes and that profitability could be hit by the increased cost of raising money for lending.
But chief Executive Adam Applegarth said he was comfortable with analysts' full-year consensus forecast for pre-tax profit of £429m, assuming the gap between the Bank of England base rate and the rate at which banks lend to each other does not widen.
Northern Rock's first-half interest margin, which measures lending profitability, narrowed to 0.85% from 1% a year earlier.
Figures from the bank show that by the end of June €745.9m was held in 21,755 Irish accounts. The average balance increased in the first six months by 3% to €34,286.
Northern Rock opened an office in Dublin in 1999 and offers a number of savings products.
