Bank of Ireland 2019 Credit Presentation
Underlying profit before tax of €758m
FY 2018
(€m)
FY 2019
(€m)
Total income
2,805
2,836
•
Operating expenses (before levies and
(1,852)
(1,785)
regulatory charges)
•
Levies and Regulatory charges
(101)
(117)
•
Net Impairment (losses) / gains
42
(215)
Share of associates / JVs
41
39
-
Underlying profit before tax
935
758
-
Non-core items
(100)
(113)
Profit before tax
835
645
-
Net interest margin (NIM)
2.20%
2.14%
Adjusted ROTE
7.2%
6.8%
-
Dec 18
Dec 19
Customer loans (net)
€77bn
€79bn
Customer deposits
€79bn
€84bn
Non-performing exposures (NPEs)
€5.0bn
€3.5bn
-
CET1 Ratios:
Fully Loaded
13.4%
13.8%
•
Regulatory
15.0%
15.0%
Total Capital Ratio:
Regulatory
18.8%
18.6%
Liquidity Metrics:
LCR
136%
138%
NSFR
130%
131%
.
LDR
97%
95%
Leverage Ratios:
Fully Loaded
6.3%
6.5%
Regulatory
7.0%
7.1%
1 On a constant currency basis
Bank of Ireland 2019 Credit Presentation
Income statement
Operating profit pre-impairment increased 10% from higher
income and lower costs
Stable net interest income
Other income up 4%
4% reduction in operating expenses
Increased impairment charge reflects:
More normalised level of impairments
Losses on small number of cases in 2019
Non-core items include charges associated with:
Tracker Mortgage Examination (€67m, of which €12m in
H2 2019)
Restructuring costs
Balance Sheet
Group loan book of €79.5bn at Dec 2019:
New lending of €16.5bn increased by 3% in 20191
Redemptions of €14.5bn; in line with 2018
Customer deposits of €84bn predominantly sourced through
retail distribution channels
NPES of €3.5bn with NPE ratio now at 4.4%, a reduction of
190bps during 2019
Continued organic capital generation with 170bps of fully
loaded CET1 generated in 2019
HoldCo senior investment grade ratings of Baa2, BBB- and
BBB from Moody's, S&P and Fitch
Bank of Ireland
10View entire presentation