2022 Interim Results - Debt Investor Presentation slide image

2022 Interim Results - Debt Investor Presentation

Strong business performance and strategic progress in H1 22 H1 22 Performance €419m Underlying profit before tax . • Bank of Ireland 2022 Interim Results - Debt Investor Presentation Total income modestly higher vs H1 21 (excluding additional gains, valuation items and acquisitions) Maintaining cost discipline while investing to attract customers from exiting banks Adjusted ROTE¹ of 8.1%; on track to deliver sustainable ROTE >10% in near term Strategic Progress 110% Increase in new current accounts State holding <3%; expect to be fully privately owned in 2022 Changing market structure in Irish retail banking; 110% increase in new current accounts opened vs H1 2021, supported by enhanced digital capabilities Increased share of Ireland's attractive wealth market; Davy acquisition completed Competition approval received for KBC Bank Ireland portfolio acquisition Asset Quality 5.4% NPE ratio . Asset quality remains strong; NPE ratio reduced during H1 22 Net credit impairment charge of €47m includes consideration of the uncertain environment Quality of loan books provide reassurance; coverage levels remain at 2.5% Capital & Distributions 15.5% Fully Loaded CET1 ratio Strong business model generating organic capital of 60bps in H1 22; 80bps of capital invested on completion of Davy acquisition in June 2022 CET1 target >13.5%; accommodates increased countercyclical buffers Strong capital position, combined with organic capital generation, support growth in distributions on a prudent and progressive basis 1 Updated basis of calculation for adjusted ROTE, which excludes the pension surplus, is set out on slide 57 Bank of Ireland 4
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