Bank of Ireland 2021 Interim Results - Debt Investor Presentation
Strong performance in H1 2021
H1 2021
Performance
€465m
Underlying profit
before tax
•
•
Asset Quality
5.5%
NPE ratio
Transformation
4%
Reduction
in costs
Capital
15.3%
Regulatory
CET1 ratio
.
Bank of Ireland 2021 Interim Results - Debt Investor Presentation
Operating profit pre-impairment +72% vs H1 2020
Total income +14%; higher net interest income, business income and valuation items
Strong UK performance; operating contribution +52% on higher margins and lower cost
Impairment charge of €1m reflecting improved economic outlook and minimal loan
loss experience
NPE ratio reduced to 5.5%, supported by €0.3bn Irish mortgage securitisation
99% of payment breaks now concluded with minimal impact on asset quality
•
7th straight reporting period of sustainable cost reductions
.
•
End-to-End customer journey programme delivering c.€60m in annualised cost savings
Ongoing progress in systems transformation with digital fulfilment now at 75%
•
Strong capital position; Fully Loaded CET1 ratio 14.1%
.
Pre-impairment organic capital generation of 90bps H1 2021 vs 45bps H1 2020
Sufficient capital to execute proposed inorganic KBC and Davy opportunities
Bank of Ireland
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