BoI half-year profit rises 16% to €670m

Bank of Ireland said its pre-tax profit rose 16 per cent in the six months to September 30th on robust performance by both the…

Bank of Ireland said its pre-tax profit rose 16 per cent in the six months to September 30th on robust performance by both the domestic and international businesses and that it is optimistic about the future.

The news was released in error this evening ahead of its planned publication of results tomorrow morning.

In a statement the bank said: "Due to an administrative error the Bank of Ireland interim results announcement was inadvertently released to certain external partiesafter the close of trading on the Dublin and London Exchanges.

"In order to avoid any risk of a false market in the stock, the Bank has authorised the Exchange to release the nnouncement forthwith."

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Pre-tax profit rose to €670 million from €580 million, while pre-ex profit climbed 7 per cent to €642 million. Earnings per share increased to 54.3 cents from 46.8 cents.

"The group is in excellent shape with significant prospects for continuing profit growth," said chief executive Mr Michael Soden.

The group will pay an interim dividend of 14.8 cents, up from 13.2 cents last year.

"The economic backdrop in our principal markets is positive, each of our businesses is performing well, we have strong asset quality, we are very comfortably capitalised and we are delivering against our key strategicobjectives," said Governor Laurence Crowley, adding that he expects "a satisfactory outcome for the full year."