BoI beats forecasts with 16% profits boost to €1.4bn

Bank of Ireland has announced forecast-beating profits of 16% and credited its retail business in Ireland, life and wholesale products for the results.

Total profit before tax was up 31% to €1.59bn with basic earnings per share also up 31% to 136.4c. Underlying profit before tax, which excludes non-core items, was up 16% to €1.39bn with underlying earnings per share at 118.5c, also an increase of 16% on the previous year.