DUTCH bank ABN Amro, which has a branch in Ireland and owns Riada Stockbrokers, posted a sharp rise in 1995 profits yesterday and raised earnings targets for the year ahead a bullish statement on its global strategy which analysts swiftly endorsed.

The largest Dutch bank posted a 14 per cent gain in 1995 net profits to 2.62 billion guilders (£1.01 billion) and raised its dividend to 3.60 guilders from 3.20 guilders a share, comfortably beating analysts' forecasts and helping the stock to power higher. A statement said the Irish operations "contributed positively" to the results.

The shares soared nearly three guilders to 77.30 guilders when trading opened and were further lifted by buoyant comments from analysts as they raced to upgrade forecasts.