Irish Life & Permanent plc posted strong results for 2006 including a 26 per cent rise in pre tax profits to €529 million. Last year IL&P posted a pre tax profit of €420 million.
The company said its operating profit in life business rose 23 per cent to €274 million while profits in its banking business increased 36 per cent to €202 million.
The company also posted a 37 per cent rise in new mortgage lending in Ireland.
Speaking at the publication of the results, the groups chief executive David Went said that 2006 had been a year of out-performance in each of the group's key businesses.
"The Group is positioned to compete strongly in all its markets this year. The outlook for the economy is very positive and each of our key businesses is well primed to maximise performance and in particular any opportunities that the completion of the SSIA maturity process may offer," he said.