2020 Results Announcement
Summary and conclusion
Economic
backdrop
Capital
Asset quality
Bank of Ireland 2020 Results Announcement
COVID-19 continues to impact, but Irish and UK economies expected to see reopening
and a recovery in GDP in 2021, supported by the rollout of vaccine immunisation
programmes
Strong capital ratios and significant buffer to minimum requirements; distributions
to recommence on a prudent and progressive basis based on performance and
capital position
Payment break performance better than expected with NPE stable in H2; continue
to work with customers to find sustainable solutions
Transformation
Efficiency
Retail UK
Multi-year programme delivery against milestones; delivering agile, digitised solutions
for customers and creating cost efficiencies
Continued focus on targeting all cost efficiency opportunities; 2021 costs to be
<€1.65bn with new 2023 cost target of €1.5bn
Execution against UK strategy to continue, while strategic review of the Northern
Ireland business will see material restructure and simplification of business model
Bank of Ireland
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