IAS19 Defined Benefit Pension + Mortgage Portfolio Analysis
Strong strategic delivery
•
Net interest income +68% y/y, total business income +23% y/y
Bank of Ireland
Financial
performance
€1.0bn
•
Costs +12%, in line with guidance (like-for-like broadly flat)
PBT
•
Strong liquidity with LDR of 79% and a 3% increase in customer balances
Strategic
progress
+12%
Total customer
loans vs Dec
2022
Delivering annual
financial targets
180bps
Strong net
organic capital
generation
•
.
•
•
Asset quality remains resilient
c. €2bn HNW customer migration from BOI Private to Davy Wealth; €8bn KBCI transaction
Digitalisation and simplification of business model progressing at pace
NPS at highest ever level; colleague engagement +3pts vs sector
ESG - €1.5bn increase in sustainable lending since Dec 2022
•
18.5% ROTE (H122 7.0%)
Cost-to-income ratio of 42% (H122 60%)
Capital allocation strategy reflected in strong FL CET1 ratio of 14.8%
Distribution decisions will be assessed at year end and informed by strong performance
Strategic management actions and business model development supporting improved financial performance
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