Bank of Ireland Financial Overview
Net interest income analysis
Bank of Ireland
H1 2022
H2 2022
H1 2023
H2 2023
Average
Gross
volumes interest
Gross
rate
Average
volumes
Gross
interest
(€bn)
(€m)
(%)
(€bn)
(€m)
Gross
rate
(%)
Average
volumes interest
Gross
Gross
rate
Average
volumes interest
Gross
Gross
rate
(€bn)
(€m)
(%)
(€bn)
(Єm)
(%)
Ireland loans
UK loans
23.2
306
2.66%
23.6
375
3.16%
30.7
561
3.69%
32.9
635
3.82%
25.0
368
2.97%
22.6
362
3.17%
20.6
422
4.13%
19.6
419
4.24%
C&C loans
27.8
518
3.75%
28.8
643
4.42%
27.6
612
4.47%
27.3
553
4.02%
Total loans and advances¹
76.0
1,192
3.16%
75.0
1,380
3.65%
78.9
1,595
4.08%
79.9
1,607
3.99%
Liquid assets²
49.3
(28)
(0.11%)
52.2
210
0.80%
43.8
648
2.99%
42.1
867
4.09%
Total interest earning assets
125.3
1,164
1.87%
127.3
1,590
2.48%
122.7
2,243
3.69%
122.0
2,474
4.02%
Ireland deposits
22.9
11
0.09%
24.6
1
0.01%
27.2
(8)
(0.06%)
27.5
(32)
(0.23%)
Credit balances³
53.2
32
0.12%
58.1
5
0.02%
60.1
(0)
(0.00%)
60.3
(1)
(0.00%)
UK deposits
12.4
(17)
(0.28%)
10.0
(22)
(0.44%)
8.8
(60)
(1.38%)
9.0
(118)
(2.60%)
C&T deposits
4.1
3
0.15%
4.8
(11)
(0.44%)
4.3
(27)
(1.25%)
3.8
(39)
(2.01%)
Total deposits (inc credit balances)
92.7
29
0.06%
97.6
(27)
(0.05%)
100.5
(95)
(0.19%)
100.7
(190)
(0.37%)
Wholesale funding 2,4
21.3
(61)
(0.58%)
19.5
(150)
(1.53%)
11.9
(281)
(4.78%)
11.5
(333)
(5.75%)
Subordinated liabilities
2.0
(35)
(3.65%)
1.8
(46)
(4.98%)
1.7
(58)
(6.67%)
1.7
(63)
(7.37%)
Total interest bearing liabilities
116.0
(68)
(0.12%)
118.9
(223)
(0.37%)
114.1
(434)
(0.77%)
113.8
(585)
(1.02%)
Other 2,5
(24)
43
(7)
(9)
Net interest margin as reported
125.3
1,072
1.73%
127.3
1,410
2.20%
122.7
1,802
1.96%
122.0
1,880
3.06%
Average ECB Refi rate
0.00%
1.23%
3.31%
4.36%
Average 3 month Euribor
(0.44%)
1.12%
3.00%
3.87%
Average BOE rate
0.71%
2.22%
4.15%
5.21%
Average SONIA
0.64%
2.15%
4.08%
5.14%
1 Income and expense from derivatives in hedging relationships is allocated within 'Loans and Advances'.
2 Volume impact of TLTRO included in liquid assets and wholesale funding; Income impact (€16m) of TLTRO in H1 22 and €51m in H2 2022 included in Other
3 Credit balances in H2 2023: ROI €50.5bn, UK €4.7bn, C&T €5.1bn
4 Includes impact of credit risk transfer transactions executed in Dec 2016, Nov 2017, Dec 2019, Oct 2021, Dec 2021 and Dec 2023
5 Includes IFRS 16 lease expense, interest on certain FVPTL items and adjustments that are of a non-recurring nature such as customer termination fees and EIR adjustments
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