Specialist banking group Investec Ireland has announced pre-tax profits of €24.3m for the six months ending September 2007, up 62% on the same time last year.
The company, which has an Irish workforce of 83 people, is active in savings and investments, capital markets and property lending international and domestically.
Investec Ireland recently bought Finance Ireland's stake in Nua Homeloans and also owns 64% of Start Mortgages, which deals with the sub-prime mortgage lending market.
The company said that profits in its capital markets business grew by 70%, while the private banking business recorded a 33% year on year profit increase.
It said its structured property finance unit again performed ahead of budget, with its strategy of following successful Irish developers to new foreign markets working well.
'Investec's performance for the period has been very strong,' commented Michael Cullen, Investec Ireland CEO. 'The business has experienced significant growth and the outlook going forward is extremely positive,' he added.
The bank is part of Investec International which provides services to a niche client base in three main markets - the UK, South Africa and Australia. It also has clients in Ireland, Botswana, Hong Kong, Mauritius, Namibia, Switzerland, the Channel Islands and the US.
