A Bank of Ireland director, Mr Pat McDowell, has made a paper profit of more than £1.5 million after exercising share options. Mr McDowell bought 100,000 Bank of Ireland shares at €1.67 and another 213,038 shares at €1.436. These shares are worth €2.4 million (£1.9 million) in the market, giving Mr McDowell a paper gain of just in excess of £1.5 million.