2019 Interim Results Credit Presentation
Robust capital ratios
CET1 Ratios:
Dec 2018
Jun 2019
Fully Loaded
13.4%
13.6%
Regulatory
15.0%
14.9%
Tier 1 Ratios¹:
Fully Loaded
14.4%
14.8%
Regulatory
16.0%
16.1%
•
Total Capital Ratios¹:
Fully Loaded
17.2%
16.7%
Regulatory
18.8%
18.0%
MREL:
Regulatory MREL ratio
23.1%
21.1%
Leverage Ratios:
Fully Loaded
Regulatory
6.3%
6.6%
7.0%
7.2%
Risk Weighted Assets:
Fully Loaded
€47.6bn
€48.7bn
Regulatory
€47.8bn
€48.9bn
2019 Interim Results Credit Presentation
CET1
•
The Group's fully loaded CET1 ratio increased by c.20 basis points
to 13.6% and the regulatory CET 1 ratio decreased by c.10 basis
points to 14.9% in H1 2019
Tier 1 & Total Capital¹
• Tier 1 ratios reflect movements in CET1 ratios and a reduction in
the adjustment under Article 85 of CRR
Total Capital ratios reflect movements in CET1 ratios, the
redemption of a €750m Tier 2 instrument in June 2019, the
continued amortisation of other bullet Tier 2 instruments and a
reduction in the adjustment under Article 87 of CRR
MREL
•
MREL target of €13.3bn (representing 26.4% of RWA at
Dec 2016) to be met by 1 Jan 2021:
MREL ratio of 21.1% based on RWA at Jun 2019 (22.3%
pro forma including €600m senior debt issued in July 2019)
Modest MREL issuance of c.€1bn - €2bn p.a. anticipated
Risk Weighted Assets
• RWA has increased from €47.8bn at Dec 2018 to €48.9bn at Jun
2019 primarily driven by net loan book growth, changes in asset
quality and book mix offset by the impact of the disposal of NPES
1 Further to EBA Q&A 2017_3329 the calculation of Tier 1 and Total Capital ratios is stated after a prudent application of the requirements of
Articles 85/ 87 of CRR. The application of the requirements of Articles 85 /87 by SSM banks is under review by the ECB
Bank of Ireland
27View entire presentation