Two directors of Bank of Ireland have made a combined profit of almost £2.5 million after buying shares at option prices and then selling some of the shares into the market.

Deputy chief executive Mr Pat McDowell has made a profit of more than £1.82 million after buying 127,279 shares at an option price of 153p and a further 4,438 shares at 209p at a total cost of £203,832. He subsequently sold almost all of the shares into the market at prices of £15.40 and £15.35 to realise £2.08 million. Mr McDowell retains just over 80,000 shares.

Chief executive Mr Maurice Keane has made a profit of over £574,000 in the same manner, He bought 17,043 shares at 201p and 55,867 shares at 153p at a total cost of £118,712 and then sold 45,000 shares into the market at £15.40 each to realise £693,000. Mr Keane retains more than 377,000 shares.