Irish Life and Permanent seeing 'record volume growth'

Irish Life and Permanent has issued an upbeat trading statement, saying it is "enjoying record volume growth in a buoyant market".

IFP said its pre-tax operating profit growth would therefore be well ahead of previous guidance, at more than 20%.

Gross new lending for the group for the year is expected to grow by about 30% for the year.

Meanwhile, Capital Home Loans, the group's UK mortgage company, is expected to see its loan

book grow by around 20% for the year with second half new lending growth picking up after a slow start to the year. Life sales in Ireland (excluding investment sales by ILIM) are expected to grow

by close to 30% for the full year.