Last year was the year Bank of Ireland could be said to have fully recovered from the Global Financial Crisis. In September, the government sold the last of its shares in the bank. And the Bank’s return on tangible equity (RoTE) — its key profit benchmark — hit 10.6 per cent, its highest level since 2008.  The key threshold for RoTE is between eight and ten per cent. This is the level at which the bank is generating enough profit for shareholders to justify the risk of investing in it. When the return on equity is higher than the cost…

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