BOI upbeat with mid-high single-digit profit growth

Bank of Ireland Group said this morning it expected to post its 13th consecutive year of profit growth when it reports full-year results on May 13.

In a pre-close trading statement the bank said all its divisions had performed well and that it expects to report mid to high single-digit percentage growth in pre-tax profit before exceptionals and in earnings per share.

"We expect to report our 13th year of consecutive profit growth, with improved return on equity driven by strong performances in all of our divisions.

"We believe we are well-positioned to harness the positive business trends we see in our main markets and to continue to grow profits in the future," commented chief executive, Michael Soden.

The bank said that excluding the impact of the Irish government levy on banks and the stronger euro, partly offset by the change in accounting policy on mortgage procurement fees, the underlying growth in alternative earnings per share is expected to be a low double-digit percentage increase.