IIB profits rise 25% as lending soars to €16bn

IIB Bank’s 30-year streak of growing profits continued in 2006 with earnings up by a quarter.

The bank’s annual report for 2006, released yesterday, shows profits after tax of €125 million, an increase of 25% and marks 32 years of growth. At operating level, profits were up from €110m in 2005 to €139m.

Lending was also up by 25% to €16 billion, while assets were up by 24% to €22bn.