IIB profits rise by 24% to €71.7m

IIB Bank has recorded another rise in annual profits with earnings up 24% in 2003 to €71.7 million.

The bank, owned by Belgian financial services firm KBC, said profits were ahead across all its business areas with growth in its mortgage, corporate lending and treasury activities.

IIB chief executive Ted Marah said yesterday that IIB had seen its mortgage advances grow by some 41%, or €1.9bn, in 2003 and increase its share of the market.