BoI predicts increase in profits

Bank of Ireland has said it expects earnings for the year to the end to March to be 15% higher than the previous year's 102.3 cent, slightly ahead of expectations.

In a trading statement, it said this figure excluded exceptional items such as the sale of its Bristol & West branch network, restructuring costs and the effects of the switch to the new IFRS accounting method. The total effect of these was a loss of €12m.