HBOS, which owns Bank of Scotland (Ireland) and ICC Bank here, said today that trading in the first four months of this year was in line with its previous guidance with retail non-performing loans increasing as expected.
'Trading and financial performance to date continues very much in line with the trends as reported at our AGM on April 27,' the bank said in a trading statement this morning.
Revenues are 'usefully' ahead of last year, and the bank said it expects to deliver planned profit growth with tight cost control.
HBOS said that its net mortgage lending is robust so far this year, and the retail end of the business is expected to deliver a market share performance at the year half in line with 2004's performance.
Corporate has sustained its strong performance, the bank said. It added that it continues to be vigilant in its lending to protect shareholder returns and it expects another year of measured asset growth.
In insurance and investment, HBOS said that sales of insurance and investment products are 'meaningfully' ahead of the first four months of last year.
In international, the bank said it continues to build its strong position with planned investment underway to develop its franchise in both Ireland and Australia.
