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Bank of Ireland H1 pre-tax profit $621 million

Staff Writer |
Bank of Ireland reported a pre-tax profit of 557 million euros ($621.5 million) for the six months to the end of June, down from 725 million euros in the same period last year.

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In its interim report, the bank said it continues to be the largest lender to the Irish economy and its new lending during the first half of the year rose 14 percent to 6.9 billion euros.

The Bank of Ireland is one of the traditional "big four" Irish banks. The bank said all trading divisions are profitable and its non-performing loans reduced by 2.1 billion euros during the period.

It said the result of Britain's EU referendum may affect new business generation, adding that it is too early to fully assess the potential impact.

"While it is too early to fully assess the impacts of the United Kingdom's EU referendum result on economic and customer activity, the strength of our business model gives us confidence in the Group's prospects," said the bank's chief executive Richie Boucher.

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