Irish Central Bank: 2010 Profit Falls To E840.9 Million

Author: Market News International | Category: News

— EU-IMF Program Will Help Rebuild Market Confidence, Honohan Says

FRANKFURT (MNI) – The Central Bank of Ireland’s profit in 2010
slipped to E840.9 million from E933.8 million in 2009, the central bank
said in its Annual Report on Monday.

“After retained earnings, surplus income of E671 million will be
paid to the Exchequer,” the central bank added.

In an opening statement, Patrick Honohan, governor of the Irish
central bank stressed that the EU-IMF support program would provide time
for the Irish government to show its “adherence to a convergent fiscal
strategy, thereby rebuilding market confidence.”

Through their endorsement of the program, “the international
authorities have demonstrated their own confidence that Ireland can
bring its debt dynamics under control,” Honohan said.

— Frankfurt bureau: +49 69 720 142; email: frankfurt@marketnews.com —

[TOPICS: M$$EC$,M$X$$$,MT$$$$,MGX$$$,M$$CR$]

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