Investor Presentaiton
Asset Quality
Debt Securities at fair value through other comprehensive income (FVOCI)
ROI
(€bn)
UK
France
Other
June 18
(€bn)
(€bn)
(€bn)
(€bn)
Dec 171
(€bn)
Sovereign bonds
3.4
0.8
2.0
6.2
7.5
Senior debt
0.1
0.3
1.4
1.8
2.1
Covered bonds
0.2
0.4
0.5
2.1
3.2
3.1
Subordinated debt
0.1
0.1
0.4
Asset backed securities
-
-
0.1
Total
FVOCI Reserve
3.7
0.2
0.4
1.6
5.6
11.3
0.2
13.2
0.3
Portfolio
• On 1 Jan 2018, debt securities classified as AFS financial assets under IAS39 were reclassified in accordance with IFRS 9
•
The Group held €11.3bn of FVOCI debt securities at June 2018. Weighted average instrument level credit rating of the FVOCI portfolio
is AA / AA-
• Other exposures include supranational entities (€1.1bn), Spain (€0.8bn), Sweden (€0.8bn), Belgium (€0.7bn), and Other (€2.2bn - all
exposures less than €0.5bn)
NAMA
•
The Group held NAMA subordinated bonds (€0.3bn nominal value) at Dec 2017
• On 1 Jan 2018, on transition to IFRS 9, the previous unamortised discount? which was amortising to the income statement under
IAS39, was transferred in full to retained earnings (NIM impact c.2bps)
In April 2018, the Group sold €0.2bn of NAMA subordinated bonds in a buy-back auction generating an additional gain in the income
statement of c.€9m
• The Group holds NAMA subordinated bonds - €0.1bn nominal value, valued at 106% at Jun 2018 (Dec 17 - 104%)
Bank of Ireland Group
'The Group held €13.2bn of AFS financial assets at Dec 17 which were reclassified under IFRS 9 to FVOCI (€10.1bn), Amortised Cost (€2.8bn)
and FVTPL (€0.3bn)
2An initial discount was recognised on the NAMA subordinated bonds with subsequent changes in fair value being recognised in the AFS Reserve
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