Bank of Ireland 2022 Interim Results
Retail Ireland franchise will be enhanced
by KBC acquisition¹
Retail Ireland performing strongly
Leading Irish retail and SME offering with
a unique franchise of c.2.2m customers²,
€32.4bn of loans and €69bn of deposits;
Ireland's only bancassurer
No.1 business bank in Ireland; €1.4bn in
new SME term lending (+16% y/y), first
period of organic³ net growth in SME lending
since 2015
-%-
€1.3bn in new mortgage lending in H1 22
(+33% y/y), 24% market share (H1 21 €1.0bn,
23%)
Bank of Ireland 2022 Interim Results
KBC portfolios will materially enhance
Irish franchise
KBC transaction going through final approvals,
expected to close by end Q1 2023, comprising4:
c.€9.0bn of performing loans, primarily
residential mortgages
•
•
c.€4.0bn of deposit accounts; cost efficient
use of excess liquidity
Enhances Irish franchise at low marginal cost
Materially accretive to earnings
KBC portfolio acquisition will add scale to Irish franchise
€31.3bn
€22.4bn
c.€6.8bn y/y increase in deposits as Irish
households (c.32% market share) continue
to build savings; positive revenue tailwind as
interest rates increase
1 Subject to satisfaction of remaining customary conditions to completion
40%
€8.9bn
BOI Ireland mortgages
(Jun-22)
KBC mortgage portfolio
(Mar-22)
Total (pro forma)
2 This figure refers to active customers who have an open product at end June 2022, had a transaction in the previous 3 months and have a
balance that is not equal to zero, for personal and business banking customers
3 Q/Q, excluding disposals
4 Portfolio figures as at 31 March 2022; numbers at completion will reflect amortisation of portfolios now that KBC has ceased new business
Bank of Ireland
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