Investor Presentaiton
Underlying profit before tax of €758m
Bank of Ireland 2019 Results Announcement
FY 2018
(€m)
FY 2019
(€m)
Net interest income
Other income
2,146
2,150
Operating profit pre-impairment increased 10% from higher
income and lower costs
Stable net interest income
659
686
Total income
2,805
2,836
.
Other income up 4%
Operating expenses
(1,852)
(1,785)
Levies and Regulatory charges
(101)
(117)
Operating profit pre-impairment
852
934
Net Impairment gains /(charges)
42
(215)
Share of associates/JVS
41
39
Underlying profit before tax
935
758
Non-core items
(100)
(113)
Profit before tax
835
645
4% reduction in operating expenses
Increased impairment charges reflect:
A more normalised level of impairments
Losses on small number of large exposures in 2019
Non-core items include charges associated with:
Tracker Mortgage Examination (€67m, of which €12m in
H2 2019)
Restructuring costs
-
FY 2018
FY 2019
Net interest margin (NIM)
2.20%
2.14%
Cost income ratio¹
65%
63%
Underlying earnings per share²
64.8c
52.4c
1 See slide 53 for calculation
2 See slide 55 for calculation
Bank of Ireland
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