Bank of Ireland 2020 Interim Results
H1 2020 Summary
Bank of Ireland 2020 Interim Results
Total income reduced 13%; lower business income and valuation item
movements
H1 Performance
Asset Quality
Transformation
Capital
€669m
Underlying loss
before tax
€937m
IFRS 9
impairment charge
3%
Reduction in costs
13.6%
Fully loaded
CET1 ratio
•
•
•
Stable net interest income; NIM of 2.02%
Strong cost discipline continues; costs reduced by further 3% vs.
H1 2019
Net lending growth €0.2bn including €1.3bn of revolving credit
facilities; Irish mortgage market share increased to 25%
Impairment charge of €937m, of which 60% relates to performing
Stage 1 and Stage 2 loans; prudent and comprehensive approach
Increased NPE ratio 5.8%; credit migration in Q2 and implementation
of new Definition of Default regulatory framework
Proven track record of working with customers to find sustainable
solutions; diversified balance sheet across portfolios and geographies
Cost reduction in each of past five reporting periods; 10% lower vs. H2 2017
Launched new mobile app; strong progress against key milestones
Further Wealth and Insurance digital platforms launched
Impairment on intangible software assets €136m
Strong capital position; fully loaded CET1 ratio 13.6%, regulatory
CET1 ratio 14.9%
Pre-impairment organic capital generation of 45bps
Completed €675m AT1 transaction in Q2
Bank of Ireland
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