IAS19 Defined Benefit Pension + Mortgage Portfolio Analysis
Income statement
Net interest income analysis
Bank of Ireland
H2 2021
H1 2022
H2 2022
H1 2023
Average
Gross
(€bn)
Volumes Interest
(€m)
Gross
Rate
(%)
Average Gross
Volumes Interest
(€bn) (€m)
Gross
Rate
(%)
Average
Gross
Volumes Interest
(€bn)
(€m)
Gross
Rate
(%)
Average
Volumes
(€bn)
Gross
Interest
(€m)
Gross
Rate
(%)
Ireland Loans¹
23.2
315
2.69%
23.2
306
2.66%
23.6
375
3.16%
30.7
561
3.69%
UK Loans
26.8
365
2.70%
25.0
368
2.97%
22.6
362
3.17%
20.6
422
4.13%
C&M Loans
27.2
504
3.68%
27.8
518
3.75%
28.8
643
4.42%
27.6
612
4.47%
Total Loans and Advances to Customers²
77.2
1,184
3.04%
76.0
1,192
3.16%
75.0
1,380
3.65%
78.9
1,595
4.08%
Liquid Assets³
46.2
(32)
(0.14%)
49.3
(28)
(0.11%)
52.2
210
0.80%
43.8
648
2.99%
Total Interest Earning Assets
123.4
1,152
1.85%
125.3
1,164
1.87%
127.3
1,590
2.48%
122.7
2,243
3.69%
Ireland Deposits¹
22.5
9
0.08%
22.9
11
0.09%
24.6
1
0.01%
27.2
(8)
(0.06%)
Credit Balances4
50.2
26
0.10%
53.2
32
0.12%
58.1
5
0.02%
60.1
(0)
(0.00%)
UK Deposits
C&M Deposits
14.3
(28)
(0.38%)
12.4
(17)
(0.28%)
10.0
(22)
(0.44%)
8.8
(60)
(1.38%)
3.9
4
0.20%
4.1
3
0.15%
4.8
(11)
(0.44%)
4.3
(27)
(1.25%)
Total Deposits
90.9
11
0.02%
92.7
29
0.06%
97.6
(27)
(0.05%)
100.5
(95)
(0.19%)
Wholesale Funding 3,5
20.4
(41)
(0.40%)
21.3
(61)
(0.58%)
19.5
(150)
(1.53%)
11.9
(281)
(4.78%)
Subordinated Liabilities
1.9
(32)
(3.29%)
2.0
(35)
(3.65%)
1.8
(46)
(4.98%)
1.7
(58)
(6.67%)
Total Interest Bearing Liabilities
113.3
(61)
(0.11%)
116.0
(68)
(0.12%)
118.9
(223)
(0.37%)
114.1
(434)
(0.77%)
Other 3,6
48
(24)
43
(7)
Net Interest Margin as reported
123.4
1,139
1.83%
125.3
1,072
1.73%
127.3
1,410
2.20%
122.7
1,802
2.96%
Average ECB rate
0.00%
Average 3 month Euribor
(0.56%)
0.00%
(0.44%)
1.23%
3.31%
1.12%
3.00%
Average BOE rate
0.11%
0.71%
2.22%
4.15%
Average SONIA
0.06%
0.64%
2.15%
4.08%
1 Ireland Loans reflect the transfer of BBROI loans into Corporate & Markets; BBROI deposits remain in Ireland Deposits
2 Income and expense from derivatives in hedging relationships is allocated within 'Loans and Advances', this approach has been updated (including prior year periods) to better allocate the hedging on each portfolio
3 Volume impact of TLTRO included in liquid assets and wholesale funding; Income impact (€16m) of TLTRO in H122 and €51m in H222 included in Other
4 Credit balances in H123: ROI €49.4bn, UK €4.9bn, C&M €5.8bn;
5 Includes impact of credit risk transfer transactions executed in Dec 2019, Oct 2021 and Dec 2021
6 Includes IFRS 16 lease expense, interest on certain FVPTL items
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