Anglo Irish Bank said today it is well placed to deal with the more uncertain economic environment, predicting "another strong performance during the year ahead" after posting a 46 per cent rise in pre tax profit for the year to September 30th.
The banking group said pretax profit rose to €194.8 million in the year from €133.6 million a year earlier after total revenues climbed to €382.6 million from €273.4 million.
Earnings per share rose 41 per cent to 41.92 cents from 29.73 cents a year earlier and the final dividend was raised 22 per cent to 6.84 cents, giving a payout for the year of 10.44 cents, up 20 per cent from last time.
"The bank's strong performance reflects growth in all our operations," said chief executive Mr Seán Fitzpatrick. "This has been achieved without margin dilution, or any lessening in our stringent credit criteria."
"We continue to adopt a very prudent approach to provisioning," Mr Fitzpatrick said.
"I am confident that the bank is well placed as a result of this strategy to increase market share and to achieve further growth in the year ahead," he added.
The group said it has used buoyant economic conditions in recent years to build up its asset quality, diversify its business and make prudent provisions. "The benefits of this approach have clearly been demonstrated in the past and will come to the fore as the economic environment changes," he said.