Rabobank Ireland, the IFSC based subsidiary of the DutchRabobank Group, today announced a 61 per cent increase in pre-tax profits to euro 35.3 million.
Commenting on the results managing director of Rabobank Ireland said Mr Fergus Murphy said: "We continued to develop business across a full range of activities and all our business segments delivered strong growth."
"This reflects well on the robustness of the franchise here in Ireland and the operating environment of the Bank in the IFSC."
Rabobank opened a new service centre in the IFSC last year which to manage part of Rabobank's European corporate banking portfolio.
Mr Murphy said the new centre is expected to generate about euro 200 million of business for Rabobank Ireland during the first half of 2001.
To date some of the group's Turkish, Argentinian, South African and Polish projects are being managed by the centre and soon to include some German projects.
"All inall we anticipate a positive year for the Dublin operation," Mr Murphy said.