Bank of Ireland shares continue winning streak after €1.2bn profit

The shares have risen spectacularly after the exit of rivals KBC Bank and Ulster Bank and since the ECB started hiking interest rates last summer

Bank of Ireland chief executive Myles O'Grady said that the Irish mortgage book is 'performing well' despite the inflation crunch.

Shares in Bank of Ireland have continued on a winning streak after the major lender reported an underlying profit of €1.2bn for 2022, helped by interest rate increases and the acquisition of the loan books from rival KBC Bank.

The bank's shares, along with those in AIB and Permanent TSB, have risen spectacularly after the exit of rivals KBC Bank and Ulster Bank, and since the European Central Bank started hiking interest rates last summer.