Irish merchant bank IIB today reported a 32 per cent rise in profits after tax to euro 47.5 million.
IIB reported that overall advances rose 29 per to euro 5.68 billion and deposits grew 19 per cent to 7.5 billion.
Chief executive Mr Ted Marah said the year was a substantial success and said he was confident for future growth despite the economic slowdown.
"We anticipate an easing of growth, a strain on the economy in the short term, but our outlook remains confident," he said.
Mr Marah acknowledged that Irish economic growth was slowing but said that even the most pessimistic of analysts are forecasting GNP growth of 5-6 per cent.
Referring to possible acquisitions, both Mr Marah and chairman Mr Paddy McEvoy said they would "look at anything on the market as any one would", but said they had no plans to create a branch network, either through an acquisition or otherwise.