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Bank of Ireland net profit falls to EUR162m in H1 2008/09

Nov 04, 2009 (M2 EQUITYBITES via COMTEX) --

Company: Governor & Company of the Bank of Ireland (IRE)

4 November 2009 - The Bank of Ireland (ISE:BKIR) booked Wednesday a net profit of EUR162m (USD238.5m) for the first six months ended 30 September 2009, registering a 73% annual drop.

The bank's total income made up EUR1.73bn in the period, down 14% on the year, while impairment charge on loans and advances to customers totalled EUR1.79bn, up from EUR267m in the corresponding period of the previous year.

Without including a gain from the repurchase of core Tier 1 debt, the bank would have posted an underlying loss before tax of EUR979m.

Meanwhile, the bank is considering transferring EUR16bn of loans to the National Asset Management Agency, scared of possible growth in impairments, which may damage its capital. 

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News Provided by COMTEX

Company: Governor & Company of the Bank of Ireland (IRE)


Related terms: debt, ireland, net profit, tax

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