Investec Ireland today reported pretax profits of €24.3 million for the six-month period to end of September 2007 in a rise of 62 per cent compared to the same period last year.
According to its statement, Investec Ireland profits from its capital markets business grew by 70 per cent, while the private banking business recorded a 33 per cent compared to the same period last year.
The banking group owns a majority 64 per cent stake in Start Mortgages - which operates in the subprime mortgage market, and recently bought Finance Ireland's stake in Nua Homeloans.
Investec Ireland is part of the international specialist banking group Investec, which today said first-half underlying pre-tax operating profit rose 23.8 per cent.
For the six months to end-September, the specialist banking group's underlying operating profit rose to £254.3 million against £205.3 million same time last year, while the adjusted earnings per share rose 17.2 per cent to 27.3 pence from 23.3 pence previously.
Additional reporting Agencies
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