Bank of Ireland 2019 Interim Results
Income Statement
Net interest income analysis
Bank of Ireland 2019 Interim Results
H2 2017
H1 2018
H2 2018
H1 2019
Average
Gross Gross
Volumes Interest Rate
(€bn) (€m) (%)
Average Gross
Volumes Interest
(€bn) (Єm)
Gross
Rate
(%)
Average Gross
Volumes Interest
(€bn) (Єm)
Gross Average Gross
Rate
Volumes Interest
(%) (€bn) (Єm)
Gross
Rate
(%)
Ireland Loans¹
35.3
545
3.07%
34.6
531
3.09%
34.4
531
3.06%
34.2
517
3.05%
UK Loans
28.0
430
3.05%
28.1
440
3.16%
27.6
447
3.21%
27.5
439
3.22%5
C&T Loans
12.8
253
3.92%
13.6
259
3.85%
14.6
287
3.89%
15.8
312
3.98%
Total Loans & Advances to Customers
76.1
1,228
3.20%
76.3
1,230
3.25%
76.6
1,265
3.28%
77.5
1,268
3.30%
Liquid Assets
20.8
43
0.41%
22.1
35
0.32%
22.7
38
0.33%
22.9
33
0.29%
NAMA Sub Debt
0.3
17
11.97%
0.2
4
3.50%
0.1
Total Interest Earning Assets
97.2
1,288
2.63%
98.6
1,269
Ireland Deposits
20.4
(9)
(0.08%)
20.5
(8)
Credit Balances²
UK Deposits
C&T Deposits
29.3
4
0.03%
30.5
2
2.60%
(0.08%) 20.7
0.01%
99.4
2
1,305
5.24%
0.1
2
5.40%
(8)
32.8
3
2.60%
(0.08%) 20.7
0.02%
100.5
1,303
2.61%
(7)
(0.07%)
34.5
3
0.02%
18.2
(74)
(0.80%)
18.9
(81)
(0.86%)
18.6
(88)
(0.94%)
18.3
(91)
(1.00%)
5.2
(9)
(0.35%)
4.7
(9)
(0.39%)
4.9
(9)
Total Deposits
73.1
(88)
(0.24%)
74.6
(96)
Wholesale Funding³
12.3
(36)
(0.58%)
12.3
(45)
(0.26%) 77.0
(0.73%) 11.0
(102)
(0.37%)
(0.26%) 78.6
5.1
(9)
(0.35%)
(104)
(0.27%)
(52)
(0.94%) 10.3
(54)
(1.06%)
Subordinated Liabilities
1.8
(42)
(4.80%)
2.1
(49)
(4.77%)
Total Interest Bearing Liabilities
87.2
(166)
(0.38%)
89.0
(190)
(0.43%)
2.1
90.1
(51) (4.86%) 2.0
(205) (0.45%)
(49)
(4.85%)
90.9
(207)
(0.46%)
IFRS Income Classification
5
7
7
2
Other4
(25)
9
(22)
(19)
Net Interest Margin
97.2
1,102
Average ECB Base rate
Average 3 month Euribor
Average BOE Base rate
Average 3 month LIBOR
2.25%
0.00%
98.6
1,095
2.23%
0.00%
99.4
1,085 2.17%
100.5
1,079
2.16%
0.00%
0.00%
(0.33%)
(0.33%)
(0.32%)
(0.31%)
0.32%
0.50%
0.38%
0.62%
0.70%
0.82%
0.75%
0.84%
1 Includes average interest earning assets of c.€0.3bn in H1 2019 carried at FVTPL with associated H1 2019 interest income of c.€7m
2 Credit balances in H1 2019: ROI €26.5bn, UK €3.5bn, C&T €4.5bn
3 Includes impact of credit risk transfer transactions executed in Dec 2016 and Nov 2017
4 Includes IFRS 16 lease expense and adjustments that are of a non-recurring nature such as customer termination fees and EIR adjustments
5 Excludes income (c.5bps) relating to the repositioning of the UK cards portfolio as non-core in H1 2019 due to classification as held for sale
Bank of Ireland
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