First Active has reported a 32 per cent increase in pre-tax profits for 2001.
The company said it had achieved visible revenue growth and cost control through the successful completion of its restructuring programme.
Group profit before tax for the year for 2001 was €54.4 million. The cost/income ratio for the year was 58.7 per cent against 64.9 per cent for 2000. Total customer loans and advances were €6.5 billion compared with €5.7 billion at the start of the year.
First Active chief executive Mr Cormac McCarthy said: "The successful completion of our restructuring programme and the maintenance of a low risk profile has positioned the company well for the future".
First Active chairman Mr John O’Callaghan described 2001 as "a very satisfactory year for First Active".
"These results demonstrate that we now have a stronger, more competitive organisation, well placed to meet the demands of the markets in which we operate," he said.
The board approved a final dividend for 2001 of 9.05 cent per share giving a total dividend for the year of 13.55 cent.