Banking

Bank of Ireland’s profits predicted to hit €1bn as interest rates surge

The lender’s share price has jumped to its highest level in years

Bank of Ireland: investors can expect the lender to cautiously bolster its distributions on the back of a healthy balance sheet, according to analysts. Picture: Maura Hickey

Bank of Ireland is on track to deliver pre-tax profits of nearly €1 billion for its 2022 financial year, according to a number of stockbroker analysts.

The lender, which is due to report its full-year accounts for 2022 in early March, has benefited from the increase in interest over the past year, which is forecast to boost its net interest income for the year by 10 per cent to more than €2.4 billion.

Myles O’Grady, ...