Irish Life & Permanent today said it secured an "exceptional" performance in the year to December 31st 2000.
It said it was boosted by the life business in Ireland that played a key role in raising group product earnings by 17 per cent to euro 266 million.
In the first full year of trading since the merger which formed the group it reported an operating profit of euro 286.6 million - up from euro 252.8 million.
The board recommended a final dividend of 27.9 cents for a total dividend of 39 cents - an increase of 11 per cent on the previous year when it paid 35.1 cents.
The value of new business for life assurance for the year was up 21 per cent to euro 37 million from euro 30.7 million.
The only area to cause some concern was in the group's US operations which had an "unsatisfactory" year. The board said it is reviewing options for the improvement of this business.
Chief executive Mr David Went said the group's banking business enjoyed a very satisfactory performance in the year under review. Residential mortgage loans grew to euro 7.6 billion.
New residential home loans issued in the Republic increased 14 per cent to euro 1.8 billion from euro 1.6 billion in 1999.
AFP