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Anglo expects 2006 earnings to beat forecasts

Trading update - Confident on year end results
Trading update - Confident on year end results

Anglo Irish Bank says it expects to see 2006 earnings per share to be three cent ahead of the current consensus of 87 cent.

In a trading update today, the bank says that the key themes of 'growth and investment' witnessed in the first half of the year have continued during the full year to the end of September.

The bank says that lending activity remains 'buoyant'. It says that this performance, combined with the high increase in loan balances in the first half of the year, provides it with an excellent platform for profit growth next year.

Anglo says its Treasury activities continue to deliver 'high quality growth' in funding and profitability. Its Wealth Management division is also enjoying what it called a 'strong year'.

'2006 will be another excellent year for the bank,' commented Group CEO David Drumm. 'All businesses are delivering high quality growth and we are confident that this momentum will continue into 2007', he added.

Anglo Irish Bank shares were down 26 cent to €12.84 in Dublin this afternoon - a fall of 2%.