IAS19 Defined Benefit Pension + Mortgage Portfolio Analysis
Loan book growth reflects acquisitions and Irish net lending
Group loan book movement
€72.0bn
€0.8bn
€8.0bn
(€0.6bn)
(€0.2bn)
€0.7bn
Bank of Ireland
€80.7bn
Dec 22
KBCI portfolio
Ireland (net lending)
International corporate
and property (net lending)
Retail UK
(net lending)
Impairment / FX / other
Jun 23
Loan book growth of 12% in H1
KBCI portfolio of €8.0bn acquired in Feb 2023
Net lending in Irish loan books (ex KBCI) of €0.8bn, primarily reflecting
strong Irish mortgage new lending (+76% y/y) and modest growth in
Irish corporate and business banking loans
Reduction in international corporate and commercial property lending
reflects cautious approach given uncertain outlook
Pace of Retail UK deleveraging lower in H123 (H122 €2.0bn), reflecting
agile response to market dynamics
Outlook
Group loan book expected to grow in H2, supported by
continued growth in Ireland (primarily in residential mortgages)
- partially offset by further modest deleveraging in UK and ongoing
cautious approach to international corporate and property lending
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