Rabobank Ireland made a €41.7m profit after tax in 2012, according to the company.
This compares to a loss of €21.6 million in 2011, which the online bank blamed on impairment charges relating to a Greek sovereign bond.
The bank, which is a subsidiary of Rabobank Nederland Group, said lending to customers in Ireland increased by €96 million last year.
It had total assets of €13.5 billion in 2012 – a decrease of €2.2 billion, which it said came as a result of reduced lending to other Rabobank Group entities.
Chief executive of Rabobank Ireland Kevin Knightly said they were pleased overall with the bank’s progress against a challenging economic backdrop.
He said the bank was particularly happy with its “strengthening position in the food and agribusiness sector”.
