Profits surge at Bank of Ireland with increases in new lending

Bank is in the process of acquiring Davy Stockbrokers and parts of KBC Bank

Customer loan volumes were €77.2bn at the end of June.

Bank of Ireland has reported a 72% increase in profits to €465m for the first half of the year.

The pillar bank, which is in the process of two major acquisitions of Davy Stockbrokers and parts of KBC Bank said they have seen a strong recovery in their business performance with lending up 12% compared to the first half of 2020.