Anglo Irish Bank has raised its profits target for its financial year to the end of September, following strong loan growth.
In a trading statement, the bank said it anticipated that earnings per share would be around five cent better than the current market forecast of 124 cent.
Anglo said it expected total lending to increase 'in the mid-30% range'. It added that its pipeline of new loans was strong, and was expected to be higher than reported at its half-year results in March. The bank said interest margins were stable and its asset quality was 'robust'.
Chief executive David Drumm said the current uncertainty in the markets showed the attractiveness of Anglo's 'unique relationship driven model'.
Shares in the bank closed down 35 cent at €13.80 in Dublin this evening.
