Delegates at Irish Life and Permanent's AGM in Dublin heard this morning that the group has enjoyed a good start to the year.
Chairman Gillian Bowler told the AGM that trading in both the bank and the life company was 'very satisfactory' with both businesses continuing to benefit from the strength of the economy and the strong employment growth.
She said that in particular, Permanent TSB has had an excellent response to its new current account and credit card offerings. In the first three months of the scheme, 12,000 new current accounts have been opened.
'In our core mortgage lending business, demand for residential mortgages remains buoyant and the continuing downward trend that we are seeing in house price inflation is also very welcome,' Ms Bowler said.
The strong demand IL&P had seen in 2004 for pension and savings products has continued into the current year.
Ms Bowler said that the consensus outlook for the Irish economy remained very positive for this year, and over the medium term, and the group expects demand for its core banking and life assurance products to remain strong.
Irish Life and Permanent shares closed down seven at €13.55 in Dublin.
