Bank of Ireland posts pre-tax profit of 8%

Bank of Ireland has reported an 8% rise in pre-tax profits and put the increase down to a focus on its key Irish and UK markets and a recovery in the world equity markets.

Profit before taxation and exceptional items to the end of march this year was €1.267bn, up from €1.01bn in the same period last year.

"Strong growth in volumes, recovery in world equity markets and a relentless focus on costs all contributed to this, our thirteenth consecutive year of increased profits," said group chief executive Michael Soden.