Q1 2020 IMS Presentation
Q1 2020 Financials 1,2
Bank of Ireland Q1 2020 IMS Presentation
Mar-19
(€m)
Mar-20
(€m)
Net interest income
538
540
Business income
148
152
Valuation and other items
18
(155)
Total income
704
537
Operating expenses
(457)
(443)
Levies and Regulatory charges
(69)
(62)
•
Operating profit pre-impairment
178
32
Net Impairment charges
(43)
(266)
Share of associates / JVS
8
(1)
Underlying profit before tax
143
(235)
Non-core items
(20)
(6)
Stable net interest income; net interest margin (NIM) of 2.07%
Valuation and other items of €155m reflecting;
Falling equity markets and widening credit spreads relating
to unit linked assets and bond portfolio valuations in
Wealth and Insurance
Financial instruments valuation adjustments and other
items €35m
Costs reduced by 3% vs. Q1 2019
Q1 impairment charge €266m includes COVID-19
management overlay of €250m
Net lending growth of €1.5bn largely offset by FX movements
Customer deposits increased €1.8bn; Liquidity Coverage
ratio 140%
Profit before tax
123
(241)
•
NPE ratio 4.2%
Dec-19
Mar-20
•
Loans & advances to customers (net)
€79.5bn
€79.6bn
Fully loaded CET1 ratio of 13.5%
Customer deposits
€84.0bn
€85.8bn
2019 dividend proposal withdrawn
Risk weighted assets
€49.9bn €50.8bn
Fully loaded CET1 ratio
13.8%
13.5%
Liquidity Coverage ratio
138%
140%
NPE ratio
4.4%
4.2%
1 Unaudited
2 The following figures are presented on a pro-forma basis throughout the financial section to reflect a COVID-19 management overlay of €250m:
impairment charges, loans & advances to customers and capital ratios
Bank of Ireland
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