Anglo Irish Bank Interim results for the six months ended 31 March 2007

(PRWEB) May 12, 2007

Anglo Irish Bank recently released its interim statement for the six month period to 31 March 2007. Key highlights include:

Profitability and shareholder value

Record underlying pre-tax profits of 552 million, an increase of 47%
Record underlying earnings per share of 60.6 cent, up 45%
Continued strong return on equity of 30%
Operational performance

Lending to customers increased by 9.3 billion net, up 19% on a constant currency basis to 59.2 billion
Strong lending work in progress of 9.2 billion
Total funding increased by 22% to 75.4 billion on a constant currency basis
Employee numbers grew to 1,672, an 8% increase on an underlying basis
Highly efficient cost to income ratio of 25%
Strong Tier 1 capital ratio of 8.5%

Commenting on the results, David Drumm, Group Chief Executive, said:

“The six months to 31 March 2007 represent another period of record profitability and exceptional lending activity with customer balances up 9.3 billion. Importantly, asset quality is excellent and lending margins have remained stable. Our Treasury division delivered a record funding performance with net growth of 13.6 billion. It was also an outstanding period for our Wealth Management business which grew profits by 57%.

“The strength of the Bank’s balance sheet and considerable ongoing investment in our people positions us well to deliver upon the significant long-term potential in each of our core markets. We look forward to a strong outturn for the full year.”

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