Bank of Scotland (Ireland) (BOSI) today reported a 20 per cent increase in pre-tax profits to €167 million for 2005.
The bank has opened seven new branches in the Republic, the first of 46 to be opened over the next 12 months.
BOSI, which is part of the British-based Halifax Bank of Scotland Group (HBOS), said it had experienced strong a
cross all areas with loans up 36 per cent to € 17.7 billion and customer deposits up 13 per cent to € 6.4 billion.
Chief executive Mark Duffy said: "The year ahead Iooks very promising, with consumer reaction to our retail proposition very positive, and excellent prospects for business banking with favourable market conditions and strong pipeline."
The bank's parent company HBOS reported a 17 per cent rise in 2005 profit as revenue growth outpaced increased costs.
HBOS, Britain's fourth-biggest bank and the country's biggest mortgage lender, said its 2005 pretax profit rose to £4.81 billion pounds from £4.11 billion in 2004.