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Friday, 19th April 2024
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Anglo's business grows by 57 per cent Back  
Anglo Irish Private Banking grew its profits by a massive 57 per cent over the six months to March 31st, 2007. Private banking in Ireland continues to be the key driver, and in the past year Anglo has raised over €500 million of investor equity for a wide range of structured investment opportunities.

The bank, which also has wealth management operations in Austria, Switzerland, Portugal and the UK, generated €47 million in profits over this period. This sector now accounts for almost 10 per cent of the bank's total profits, which surpassed half a trillion euro during the six months to March 2007.

The bank recently established a private bank in the UK, with the aim of replicating its Irish business by providing a tailored and differentiated product offering, initially to its existing UK lending client base. The UK bank focuses on investors with upwards of $5 million (GBP2.5 million) of investable assets.

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