Investor Presentaiton
Strong recovery in H1 2021
financial performance
Bank of Ireland 2021 Interim Results - Debt Investor Presentation
•
Operating profit pre-impairment +72%
H1 2020 H1 2021
(€m)
(€m)
Net interest income
1,063
1,080
Business income
266
282
Additional gains, valuation and other items
(107)
36
Total Income
1,222 1,398
Operating expenses
(872) (837)
Levies and Regulatory charges
(70)
(96)
•
Impairment of intangibles and goodwill
(9)
Operating profit pre-impairment
271
465
•
Net impairment charges
(937)
(1)
Share of associates/JVs
(3)
1
Underlying profit/(loss) before tax
(669)
465
Non-core Items
(153)
(59)
•
Profit before tax
(822) 406
Net interest income 2% higher
Business income² +8% with easing of COVID-19
restrictions supporting further growth in H2 2021
Valuation items benefitting from recovering bond
and equity markets
4% reduction in operating expenses, net of inflation
and transformation investment
€1m net impairment charge (H1 2020 €0.9bn):
Improving macro outlook as economy reopens
Muted loan loss experience
Non-core items include €69m of business model
restructuring costs
Net interest margin (NIM)
Cost income ratio¹
Underlying earnings per share
H1 2020 H1 2021
(€m) (€m)
2.02% 1.90%
66%
61%
(59.7)
33.66
1 See page 58 for calculation
2 Including Share of Associates and JVs
Bank of Ireland
13View entire presentation