Central Bank earns €8bn profit in five years

The Central Bank has generated profits of more than €8 billion over the last five years, according to outgoing governor Patrick Honohan.

The huge sums were earned on the back of a surge in Irish bond prices. This boosted the bank’s profits, as its portfolio of government-linked debt has swelled in recent years.

The bank transfers 80 per cent of its surplus income to the Exchequer every year. Last year, a record €1.7 ...