Goodbody Stockbrokers has said its profits soared 109 per cent to €16.1 million last year, helped by a surge in fee income across its wealth management and investment banking activities.
Firm revenue rose to €113.7 million from €92.7 million, with the fee portion of that jumping by 30 per cent to almost €75 million.
“In a year where geopolitical concerns and market volatility were prevalent, the company revenue increased by 23 per cent driven by increased client assets, transaction activity and improved service for all clients,” said the company in its latest annual financial statement, filed on Friday with the Companies Registration Office (CRO).
“Strong growth was experienced across our business as we work with the broader AIB Group to ensure we deliver a comprehensive and compelling client experience.”
READ MORE
Trading income on stocks and bonds held on its own books surged to €2.79 million from €209,000, it said.
Staff numbers at the company, which is led by Martin Tormey, rose from an average of 410 for the year from 399 for 2024.
Goodbody, which dates back to 1874, was bought by AIB in September 2021 for €138 million. It cut jobs in its investment banking unit three years ago amid a global slowdown in deal-making and fundraising, and an expected acceleration of large companies leaving the Irish stock market.
However, it has been building up its asset and wealth management business in recent years as it plays belated catch-up to its larger rival Davy, which stole a march against its main competitor in the past dozen years snapping up assets amid consolidation in this space.
The Irish Times reported last year that Goodbody is in exclusive talks to buy BCP Asset Management, a Dublin-based firm that was put on the market in late 2024 and was said to be worth between €12 million and €14 million. Talks are said to be ongoing.
