NIB profits hit €6m despite tougher trading conditions

NATIONAL IRISH BANK said pre-tax profit doubled to €6 million in the first quarter of this year — with mortgage lending up 29%.

However the bank noted that the results were achieved in tougher operating conditions.

NIB said total income increased by 14% to €47m, while operating expenses were down 3% and profit before credit losses increased to €11m, compared to €4m for the same period last year.