Investor Presentaiton
Sustainable business income
Retail Ireland
Hồ 2017 H1 2018
•
Business income of €323m broadly in line with H1 2017;
•
Retail Ireland: reduction vs. H1 2017 due to strategic
customer initiatives and solutions
Wealth and insurance: increase vs. H1 2017, due to an
increase in single premium, pension and risk sales
Corporate and Treasury: reduction vs. H1 2017, due to
by lower equity income and upfront fees
Additional gains of €10m driven by the partial disposal of
NAMA subordinated debt (€9m gain)
(€m)
(€m)
143
131
Wealth and Insurance
99
115
Retail UK
3
6
Corporate & Treasury
86
72
Group Centre and other
(4)
(1)
Business Income
327
323
Additional gains
16
10
Other valuation items
38
(11)
- CVA, DVA, FVA, other
29
(19)
- Interest rate movements - Wealth and Insurance
10
(4)
•
- Unit-linked investment variance - Wealth
7
and Insurance
- IFRS income classifications²
(8)
19
Other Income
381
322
Valuation and other adjustments on financial instruments:
Net charge of €11m (H1 2017: net gain of €38m)
Impact primarily due to widening of credit spreads and
higher euro interest rates
Bank of Ireland Group
1Comparative figures have been restated to reflect the impact of: (i) the Group's decision to re-organise the Wealth and Insurance operating segment
(formerly Bank of Ireland Life) and (ii) the voluntary change in the Group's accounting policy for Life assurance operations in H2 2017
2IFRS income classifications are fully offset in net interest income
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