Strong lending sees Anglo Irish Bank raise profit target and shares rise

STRONG lending to its core client base has caused Anglo Irish Bank to raise its profits target for its financial year ending September 30.

In a trading update to the markets, the bank said it expected earnings per share would be about 5 cent better than the current market forecast of 124c a share.

However, in a bad day for bank stocks listed on the ISEQ 100, the group fell nearly 3% to €13.74, a fall of 41c on the day.