2019 Interim Results
Sustainable business income
Bank of Ireland 2019 Interim Results
(€m)
129
Adjusting for the impact of the sale and repositioning of UK
Cards and ATMs (€21m income in 2018), Business Income
was €9m / 3% higher in H1 2019 due to market share growth
and higher APE sales in Wealth and Insurance and higher
income in Corporate & Treasury
Valuation and other items were a net gain of €28m (H1 2018
net charge of €11m):
Lower for longer interest rates have increased the value of
the investment bond portfolio;
Increase in the value of equity markets in H1 2019
has increased the value of unit-linked assets under
management and the associated value of the Group's
future fee income
Hồ 2018 H1 2019
(€m)
Retail Ireland
Wealth and Insurance
Retail UK
131
115
119
6
(11)
- UK continuing operations
(15)
(11)
- UK Cards / ATMs
21
Corporate and Treasury
72
77
Group Centre and other
(1)
(3)
Business Income
323
311
Additional gains
10
3
Valuation and other items
(11)
28
Wealth and Insurance:
- Interest rate movements
(4)
- Unit-linked investment variance
(7)
CVA, DVA, FVA, other
(19)
IFRS income classifications'
Other Income
19
༞རྨ@ ༤
15
21
(18)
322
342
1 IFRS income classifications include €7 million of interest income in H1 2019 on 'Life loan mortgage products' which on transition to IFRS 9 were
mandatorily classified as FVTPL, with all income on such loans reported in 'net other income'. IFRS income classifications are fully offset in net
interest income
Bank of Ireland
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