IAS19 Defined Benefit Pension + Mortgage Portfolio Analysis
Balance sheet
Bank of Ireland
Dec 22
Jun 23
•
Customer loans
Liquid assets
Other assets
Total assets
72
81
49
44
30
31
•
151
156
Customer deposits
99
102
Wholesale funding
11
12
Shareholders' equity
12
12
Other liabilities
29
30
Total liabilities
151
156
TNAV
per share
€8.63
€9.24
Funding & Liquidity
Liquid assets reduced by c.€5bn; primarily due to the loan and
deposit acquisitions from KBCI of c.€6bn, partially offset by higher
wholesale funding volumes of €0.8bn and higher customer deposit
volumes of €0.3bn (constant currency basis excluding the KBCI
deposit acquisition)
LDR increased (73% to 79%), NSFR reduced (163% to 153%) and LCR
decreased (221% to 193%); the changes in all three ratios primarily
reflect the impact of the KBCI transaction
Customer deposits: €101.7bn
•
Growth of €2.5bn predominantly driven by KBCI transaction and
growth in Irish franchise, partially offset by lower Retail UK deposits
arising from deleveraging in line with strategy
Wholesale funding: €12.1bn
•
•
€0.8bn higher than Dec 2022 due to MREL eligible senior debt
issuance in Jan 2023
Capital and MREL requirements primary driver of new wholesale
funding
Tangible Net Asset Value
Dec 22
Jun 23
Liquidity Coverage Ratio
221%
193%
Net Stable Funding Ratio
163%
153%
•
Loan-to-deposit ratio
73%
79%
TNAV increased by 7% from Dec 2022 to €9.24, primarily reflecting
retained profits in the period, partially offset by FY22 distributions
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