Bank of Ireland profits rise 17% on 'continued recovery'

New lending grew by 7%, year-on-year, in the first nine months of this year, the bank said.

Bank of Ireland entered into a binding agreement with KBC – for the acquisition of €9.2bn worth of loans and €4.4bn worth of deposits – last week. File Picture: Leah Farrell / RollingNews.ie

Bank of Ireland has reported a 17% year-on-year rise in operating profit – excluding impairment charges – for the three months to the end of September.

In its latest trading statement – updating on performance in the third quarter of the year – Bank of Ireland said it saw a “continued recovery of business activity, supported by a more positive economic environment and outlook”.