IBRC reported a biannual operating profit of €359m (not accounting for disposals and provisions), and a loss for the six months of €724m.
Net interest income rose 14% year-on-year to €538m, and total assets fell by 5% (€2.8bn) to €53.2bn, primarily due to a €2.1bn decline in gross customer loan balances.
With the exclusion of Government promissory notes (€27.8bn) and Irish Government bonds (€3.5bn) total assets fell from €25.3bn at the end of 2011 to €21.9bn at the end of H1 2012.
Group Chief Executive Mike Aynsley described the first six months of 2012 as a period of relative operational stability and steady progress.
The results follow the firm’s 2011 operating profit of €620m, and an annual pre-tax loss of €873m.
Source:
bankingtimes.co.uk
