Investor Presentaiton
Group Income Statement
Underlying profit more than doubled to €743m
H1 2014
(€m)
H1 2015
(€m)
%
Change
Total income
1,475
1,759
19%
Net interest income
1,161
1,219
5%
Other income (net)
335
545
63%
ELG fees
(21)
(5)
76%
Operating expenses
(813)
(875)
(8%)
Operating profit
662
884
34%
pre-impairment
Impairment charge
(374)
(168)
55%
Customer loans
(444)
(168)
62%
NAMA bonds
70
Share of associates / JVS
39
27
(31%)
Underlying profit
327
743
127%
before tax
Non-core items
72
(18)
Statutory profit
399
725
82%
before tax
Bank of Ireland Group
Underlying profit more than doubled to €743m
in H1 2015
Pre-provision operating profit up €222m (34%)
Increased Net interest income by €58m; higher net
interest margin partially offset by lower interest
earning assets
Other income of €545m; reflecting good
momentum in our business income and
additional gains
Lower cost/income ratio of 50% (H1 2014: 55%)
Impairment charge reduced by >60% to €168m
/ 36bps
Underlying PBT includes additional gains of €228m
(H1 2014 €140m)
Liquid asset portfolio rebalancing (€171m)
Sale of investment properties / other assets (€57m)
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