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State Banking Sector

Dáil Éireann Debate, Wednesday - 16 January 2013

Wednesday, 16 January 2013

Questions (205)

Kevin Humphreys

Question:

205. Deputy Kevin Humphreys asked the Minister for Finance if Irish Life returned a dividend to the State in 2012; if he will indicate if the company was profitable in that time; if he expects to receive a dividend in 2013; and if he will make a statement on the matter. [1915/13]

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Written answers

The State acquired Irish Life on 30 June 2012 and since that time has not received a dividend. Irish Life announced their interim results for H1 2012 on 19 Sep 2012, a copy of which is available at http://www.irishlifegroup.ie/financial-information/annual-and-interim-reports/2012.aspx. For the six month period ended 30 June 2012 the company reported a profit before tax of €96m on an IFRS basis and €84 million after tax. Results for the full year 2012 will become available by the end of March or the start of April. Any potential dividend to be paid by Irish Life in 2013 will be determined only following the completion of the 2012 audit and will in any event be subject to the approval of the board and the regulator.

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