The business lender Anglo Irish Bank has posted full year results ahead of expectations as it profited from strong economic growth in Ireland and buoyant demand for financial products in the UK, US and eastern Europe.
The bank saw full year pre-tax earnings rise by 36% to E685.2 million, while a poll of analysts conducted by the Reuters news agency forecast a result nearer to E660 million.
The bank continues to benefit from a healthy loan book, with non-performing lending comprising just 0.54% of its overall commitment. Lending performance in Ireland was especially strong, seeing the amount lent rise by 46% to E19.4 billion.
We are confident of the bank’s future prospects, chief executive David Drumm said. Lending work in progress is at record levels and the outlook for our core economies remains positive.