Investor Presentaiton
Growing diversified business income
Growth of 8% in business income to €662m in 2017 (2016:
€615m);
Bank of Ireland Life - strong growth in pension sales
contributed to growth in BOI Life business income
Corporate & Treasury - 11% increase driven by equity
distributions and income from supporting customers
with their interest rate and FX risk hedging requirements
Additional gains of €74m in 2017;
Bond sales of €45m; includes €0.8bn of sales executed
in 2017 (to protect capital ahead of IFRS 9 transition)
which crystallised a gain of €43m and will adversely
impact NIM in 2018 by c.1bp
Sale of investment properties / other assets (€29m)
Valuation and other adjustments on financial instruments -
net benefit of €65m in 2017 (2016: €62m)
FY 20161 FY 2017
(€m)
(€m)
Retail Ireland
Bank of Ireland Life
Retail UK
319
317
•
145
177
Corporate & Treasury
Group Centre and Other
Business Income
Additional gains
- VISA Europe gain
- Bond Sales
22N
1
157
175
(8)
(8)
615
662
171
74
95
63
45
- Sales of investment properties / other assets
13
29
Other valuation items
62
65
- CVA, DVA, FVA, other
59
37
-
Economic assumptions - BOI Life
41
22
- Investment variance - BOI Life
10
9
-IFRS adjustment²
(45)
(3)
FV move on CoCo
Other Income
(3)
848
801
Bank of Ireland Group
¹Comparative figures have been restated to reflect the impact of the voluntary change in the Group's accounting policy for Life assurance operations
2IFRS adjustment is fully offset in net interest income
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