2019 Interim Results Credit Presentation
ROI Mortgages: €23.2bn
New Lending volumes and Market Share
2019 Interim Results Credit Presentation
ROI Mortgages (gross)
28%
28%
€24.1bn
€23.7bn
€23.2bn
26%
26%
€7.3bn
23%
€9.5bn
€10.4bn
€5.8bn
€4.4bn
€3.5bn
€1.3bn
€1.2bn
€1.0bn
€1.0bn
€10.9bn
€0.8bn
€9.8bn
€9.3bn
H1 2017
H2 2017
H1 2018
New Lending Volumes¹
H2 2018
Market Share
H1 2019
Dec 17
Dec 18
Tracker Variable Rates Fixed Rates
Jun 19
Pricing strategy
• Fixed rate led mortgage pricing strategy which provides value,
certainty and stability to our customers and to the Group
• Fixed rate products accounted for c.92% of our new lending
in H1 2019, up from c.30% in 2014
Distribution strategy - expansion into broker channel
• Accelerating on-boarding of new brokers following successful
re-entry into broker market in Q4 2018 (Brokers accounted
for c.25% of the market in H1 2019)
Wider proposition
7 in 10 ROI customers who take out a new mortgage take out
a life assurance policy through BOI Group
3 in 10 ROI customers who take out a new mortgage take out
a general insurance policy through BOI Group with insurance
partners
LTV profile
•
Average LTV of 61% on existing mortgage stock at June
2019 (Dec 18: 61%)
• Average LTV of 74% on new mortgages in H1 2019
(Dec 18: 71%)
Tracker mortgages
• €8.8bn or 95% of trackers at June 2019 are on a capital and
interest repayment basis
• 80% of trackers are Owner Occupier mortgages; 20% of
trackers are Buy to Let mortgages
• Loan asset spread on ECB tracker mortgages was c.64bps²
in H1 2019
1 Excluding portfolio acquisitions (H1 2017 - Nil; H2 2017 - €0.1bn; H1 2018 - Nil; H2 2018 - Nil; H1 2019 - Nil)
2 Average customer pay rate of 110bps less Group average cost of funds of 46bps
Bank of Ireland
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