Irish banks post 'exceptionally strong' results helped in part by deposit rates 

AIB, Bank of Ireland, and Permanent TSB had a combined income of €1.7bn in the first half of 2023

The banks' results were boosted, in part, by the deposits they place at the ECB and the deposit rates they pay customers. Stock picture: Getty

The three Irish banks delivered “exceptionally strong results” generating combined income of over €1.7bn at the half-year stage, helped, in part, by the deposits they place at the European Central Bank and the deposit rates they pay customers, ratings firm DBRS Morningstar has said.

The commentary comes after the Irish banking trio — AIB, Bank of Ireland, and Permanent TSB — last week completed their earnings reports for the first six months of the year.