Bank of Scotland Ireland reports 45% rise in profits as expansion continues

BANK of Scotland Ireland has reported pre-tax profits of €213m for last year, an increase of 45%, as the company opened 24 new retail branches.

In an interview with the Irish Examiner, chief executive Mark Duffy, said the “stand out figure for him was the 44,000 new retail customers the bank signed during the last 12 months”.

While a sharp rise in profits was impressive Mr Duffy said the competition his bank has injected in to the Irish banking sector is finally starting to yield solid results.