Bank of Ireland expects strong operating profits

Bank of Ireland expects to deliver strong operating profits and strong volume growth when it reports half-year results to September 30, the Bank announced in a trading statement today.

The group expects to report a high single-digit percentage growth in alternative earnings per share, and a mid single-digit percentage growth in profit before tax and exceptional items.

Group net interest income will show a mid single-digit percentage increase on a constant currency basis, strong volume growth both in the UK and Ireland being a feature of this improvement.

Total income is expected to grow by mid single-digit percentage growth.

The group accounts are expected to include an exceptional profit of €40m, largely due to the sale of Euroconex.

Interim results for the half year to September 30 will be published on Thursday, November 11.

“The continued strong momentum in the economies in which we operate, particularly in the Republic of Ireland, has driven very strong trading performance across the group," said Brian Goggin, Bank of Ireland chief executive.