Bank of Ireland 2022 Interim Results
Non-property SME and corporate/
Property & Construction
Gross loans by stage
Bank of Ireland 2022 Interim Results
Property and construction
.
Non-property SME
and corporate
€20.8bn
€21.6bn
€8.6bn
€8.7bn
€1.3bn
€1.5bn
€1.0bn
€0.8bn
€5.1bn
€4.5bn
€3.7bn
€4.3bn
€14.4bn
€15.6bn
•
€4.2bn
€3.3bn
Dec-21
Jun-22
Dec-21
Stage 1 Stage 2 Stage 3
Stage 1
ILA movement
Non-property SME
3.6%
and corporate
(€49m)
Jun-22
Stage 2 Stage 3
Property and construction
3.6%
6.1%
5.1%
€62m
(€21m)
(€62m)
€527m
€755m
€768m
Dec-21 Stage 1/2 Stage 3
Jun-22
€444m
Dec-21 Stage 1/2 Stage 3 Jun-22
⚫ILA % of gross loans
Non-property SME and corporate
28% of Group loan book, well diversified by geography
and sector
€0.6bn decrease in Stage 2 loans since Dec 2021 due to
a reduction in the COVID-19 PMA and net repayments/
redemptions
Impairment coverage was stable at 3.6% at June 22 vs Dec 21,
but remains higher than Dec 2019 (2.4%)
While impairment coverage has remained stable on a total
portfolio basis since Dec 2021, there has been some sub-
portfolio movement, including
Manufacturing impairment coverage 2.9% (Dec 2021: 2.0%)
Accommodation and food services impairment coverage
4.5% (Dec 2021: 5.8%)
Wholesale and retail trade impairment coverage 2.7%
(Dec 2021: 3.3%)
Property and Construction
•
•
11% of Group loan book; €7.6bn investment property; €1.1bn
development lending
€0.6bn reduction in stage 2 loans since Dec 21 due to net
repayments/ redemptions and a reduction in the COVID-19
PMA, partly offset by increases due to FLI/ model updates
Investment property exposures Retail 29%, Office 35%,
Residential 18% and Other 18%
Impairment coverage decreased from 6.1% at Dec 2021 to 5.1%
at June 2022 but remains higher than Dec 2019 (2.8%)
Bank of Ireland
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