EQUITY Bank has launched a trade and international banking division which will operate closely with NWS Finance International, Equity's sister company in the IFSC. The new division is headed by Mr Paddy Flynn and the senior manager is Mr Tony Keegan.

Mr Flynn and Mr Keegan were formerly with Ansbacher, the Dublin based private bank, which was purchased by Anglo Irish Bank at the end of last year. Equity's consumer and retail banking division is headed by Mr Damien Ryan.

Equity, which is part of the Bank of Scotland group, recorded a 131 per cent rise in profits to £2.02 million last year.