Allied Irish Banks profits up 12.2% for fiscal year

May 14, 1992

Allied Irish Banks PLC, the Dublin-based parent of First Maryland Bancorp, reported yesterday a 12.2 percent increase in profits, to $169.8 million, or 26.1 cents a share, for the fiscal year that ended March 31, 1992, from $151.3 million, or 23.7 cents a share, a year ago.

First Maryland, which owns the First National Bank of Maryland, also said yesterday that its upcoming sale of $100 million in 10-year subordinated notes was priced to yield 8.44 percent, or 1.10 percentage points more than the 10-year Treasury note. Most of the proceeds will be used to pay down short-term debt.

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