Irish central bank sees profits more than double

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The Central Bank of Ireland recorded a 156% rise in profits in 2009 despite a fall in interest rate income, the central bank's Annual Report showed.

The report, published on Friday, showed that profits for the year increased to €933.8m ($1.2 billion) for the year ending 31 December 2009, up 156% from €364.2m in 2008.

The central bank said the rise in profits was owing to higher net interest on income during 2009 with income on interest, which is earned from assets backing banknotes in circulatio

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