Rabobank subsidiary ACCBank recorded a 5 per cent increase in total income to €159.7 million during 2007, as its increased loan book generated additional interest.
Profit for the year before tax totalled €43 million. Total loans and advances to customers rose by €215 million to more than €6.75 billion during the year.
The bank's shift in focus to small and medium sized businesses has paid off, with commercial loans, which represent almost two-thirds of total customer loans, increasing 10 per cent.
"We have created a strong base on which to further develop our business over the coming years," said chief executive of ACCBank, Rob Hartog.
“The Rabobank brand continues to grow in strength in Ireland, providing us with a major opportunity to increase our footprint in the SME and agricultural sectors over the months and years ahead.”