Allied Irish Banks (AIB) posted a forecast-topping rise in half-year profit today and revised upwards its full-year earnings outlook.
Ireland's largest listed company said basic earnings per share climbed 16 per cent in the six months to the end of June to 72.3 cents.
Profit on ordinary activities before tax jumped to €851 million from €706 million last year.
AIB chief executive Eugene Sheehy today ruled out offering 100 per cent mortgages to first-time buyers. A number of other lenders, including First Active and EBS, are offering such loans to househunters.
He explained that the AIB's mortgage lending business was up 29 per cent for the first six months of 2005.
"We want to be the mortgage provider of choice to our customers. "As of now, we don't feel a need to enter into the 100 per cent mortgage business."
The bank revised upwards its guidance for full-year earnings per share to a 140-142 cents range from a previous forecast of 130-140 cents.
The median of six forecasts from analysts surveyed by Reuters had put AIB's expected pretax profit for the half-year to end-June at €827 million, or 70.25 cents a share. Forecasts ranged from 69.8 cents to 72 cents.