INBS pre-tax profits soar 16% to €135m record high

IRISH Nationwide Building Society (INBS) delivered bumper results yesterday as the countdown to a takeover continued.

Pre-tax profits soared 16% to a record €135 million on the back of higher lending volumes.

Gross lending was 33% ahead at €2.4 billion. Managing director Michael Fingleton said the results demonstrated “a strong performance once again” and that the society’s profitability compared favourably with other players in the market.