National Irish Bank (NIB) today reported a 21 per cent rise in pre-tax profit before exceptional items to £20.5 million.
Total lending grew by 15 per cent to £1.73 billion, with business lending up by 19 per cent, mortgages by 12 per cent and credit card balances by 14 per cent.
Commenting on the results, Mr Don Price said: "This time last year we said we were beginning to see the green shoots of recovery. Today, these figures provide strong evidence of this process".
The exceptional items include a provision of £14.3 million, less an amount of £6.4 million recoverable from the group’s in-house insurers, in respect of settlements with customers who had purchased CMI and other offshore policies during the 1990s.
In addition, the exceptional items include £3.7 million of ongoing investigation costs and £1.5 million for early retirements, making a total of £13.1 million.
Mr Price also gave details of NIB’s new European customer contact centre in Ayrshire that will open next year.