Northern Ireland

Bank of Ireland reports rise in pre-tax profit to 1.2bn euro

Bank of Ireland signs
Image caption The bank, which operates across Ireland and the UK, is one of Northern Ireland's 'big four' banks

Bank of Ireland has reported an underlying pre-tax profit of 1.2bn euro (£0.94bn) for 2015.

The figure represents an increase of 30% on the previous year's total of 921m euro (£720m).

The bank, which operates across Ireland and the UK, is one of Northern Ireland's 'big four' banks.

The Northern Ireland business is contained within the bank's retail UK division.

That division showed an underlying pre-tax profit of £140m, up 37% on the £103m recorded in 2014.

The retail UK division also includes the bank's joint ventures with the Post Office and the AA.

The division increased its new mortgage lending to £3.3bn in 2015 compared to £1.8bn in 2014.

The bank said its overall improving performance means it aims to restart paying dividends to shareholders in the first half of 2017.

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