Savings with Northern Rock up 33%

IRISH savers, attracted by high interest rates, increased their savings with British bank Northern Rock by 33% over the last 12 months.

The actual number of Irish retail savings account customers increased by 45% to 21,000. They deposited €181 million with the Newcastle-upon-Tyne headquartered company in 2002, bringing the total savings lodged with its Irish operations to €736.2 million. On average, Irish customers hold €35,057 in their saving accounts.

Chief executive Adam Applegarth reported that total retail deposit balances for the year increased by €3.0 billion to €23.5 billion. Pre-tax profits were up by 18.0% to 501