Bank of Ireland 2022 Interim Results
Bank of Ireland 2022 Interim Results
Strong market position reflects
confidence in outlook
Davy acquisition further strengthens already well diversified Wealth and Insurance model
Irish market leader in Wealth
Enhanced market leading capabilities
Attractive wealth market backdrop
Irish household wealth
now at c.€1 trillion'
Bank of
Ireland
NEW
IRELAND
SECURING
YOUR FUTURE
DAVY
€2.7bn
€15.8bn
€1.0bn
€38.9bn
€12.0bn
€2.0bn
•
€630bn
•
€527bn
€396bn
€297bn
€331bn
€356bn
-€182bn
-€157bn
2012
2015
€390bn
-€147bn
2018
€504bn
-€140bn
2021
Financial Assets Liabilities Housing Assets
Growing Irish household wealth
relatively underinvested; c.36% of
financial assets held in cash/deposits',
high vs many European peers (UK
c.26%, EU avg 32%)²
Young population³ and ongoing shift
from DB to DC pension schemes
provides need for more complex long
term retirement planning
•
Majority of market serviced by non-
specialist investment providers
.
1 Central Bank of Ireland; Q4 2021 Household Financial Balance Sheet
2 Eurostat and UK ONS, end 2020
Combined business offers market
leading propositions in retail, mass
affluent and high net worth (HNW)
wealth advisory segments
Range of different channels
support c.600k retail and mass
affluent customers within Bank of
Ireland; investible assets typically
< €1m
Davy offers wealth advisory to
6.5k affluent and HNW customers;
relationship AUM typically > €1m
'Davy Select' provides market
leading online execution-only
investment platform
Synergy opportunities through
combined capabilities and customer
bases of Bank of Ireland and Davy
3 Ireland median age of population 39 years (2021, Eurostat), second lowest in EU
4 AUM as at end June 2022
€6.0bn
BOI Wealth and
Insurance business
•
Davy
Total AUM4
Other Pensions Life Wealth
Execution only ■Total
Total Group AUM almost doubled
to €39bn post-Davy acquisition; net
inflows of €0.9bn in H1 22 (15% y/y)
Ireland's only bancassurer;
significant investment in
transforming Wealth and Insurance
offering in recent years
9% increase in Wealth and
Insurance business income y/y
(ex Davy)
Bank channel penetration 35% (vs
26% in 2018)
Bank of Ireland
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