Boucher says bank back to profitability for first time since 2009

There was just under a €1bn improvement in Bank of Ireland’s performance between 2012 and 2013 on the back of higher margins and lower impairment costs.

Bank of Ireland chief executive, Richie Boucher said the bank has returned to outright profitability over the first two months of this year for the first time since 2009.

Loss before tax for the 12 months to the end of last December was €569m compared with a loss of €1,499m for the year earlier. However, operating profit before impairment charges was €1,065m compared with €224m over 2012.