IFG Group sees a rise in profits

Wednesday 19th April 2006, 12:00AM BST.

IFG Group, the company which acquired Bank of Scotland International’s trust operation at the end of last year, has reported profit before tax of 10.

million euros in 2005 before exceptional items and share option charges, on revenues of 92.

million euros.

This compares with profit before tax of 6.

million euros the previous year.

The Dublin-headquartered firm says it saw improvements in both segments of its operation last year, with strong growth in both the Irish property and UK-based actuarial and pensioner trustees businesses and also continued growth in the international business.

IFG announced at the end of December that it had acquired the Bank of Scotland trust operation for £6.

million and re-employed the twelve staff.

The company also acquired a privately-owned corporate trust business in Ireland.

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