Bank of Ireland 2019 Interim Results
Sustainable business income
Bank of Ireland 2019 Interim Results
(€m)
129
Adjusting for the impact of the sale and repositioning of UK
Cards and ATMs (€21m income in 2018), Business Income
was €9m / 3% higher in H1 2019 due to market share growth
and higher APE sales in Wealth and Insurance and higher
income in Corporate & Treasury
Valuation and other items were a net gain of €28m (H1 2018
net charge of €11m):
Lower for longer interest rates have increased the value of
the investment bond portfolio;
Increase in the value of equity markets in H1 2019
has increased the value of unit-linked assets under
management and the associated value of the Group's
future fee income
Hồ 2018 H1 2019
(€m)
Retail Ireland
Wealth and Insurance
Retail UK
131
115
119
6
(11)
- UK continuing operations
(15)
(11)
- UK Cards / ATMs
21
Corporate and Treasury
72
77
Group Centre and other
(1)
(3)
Business Income
323
311
Additional gains
10
3
Valuation and other items
(11)
28
Wealth and Insurance:
- Interest rate movements
(4)
- Unit-linked investment variance
(7)
CVA, DVA, FVA, other
(19)
IFRS income classifications'
Other Income
19
༞རྨ@ ༤
15
21
(18)
322
342
1 IFRS income classifications include €7 million of interest income in H1 2019 on 'Life loan mortgage products' which on transition to IFRS 9 were
mandatorily classified as FVTPL, with all income on such loans reported in 'net other income'. IFRS income classifications are fully offset in net
interest income
Bank of Ireland
15View entire presentation