Investor Presentaiton
€250m cost reduction 2017-2021;
target lowered to €1.65bn
€1.9bn
€1,900m
€1,852m
€1,785m
€1.65bn
2017
2018
2019
2020
2021
Bank of Ireland 2019 Results Announcement
•
Strong momentum with net cost reduction of €115m since
2017:
-
€215m (11%) gross cost saves driven by simplifying our
organisation, sourcing strategically and ways of working
Created capacity for €100m to absorb higher depreciation
and targeted investment in our people and infrastructure
• 2021 cost target lowered by a further €50m; from c.€1.7bn to
€1.65bn
Simplifying our
888 Organisation
Sourcing
Strategically
Ways of
Working
Delivering
the Digital
Bank
€142m of
gross savings
€62m of
gross savings
€215m of gross savings since 2017
Enabling
Brilliant
Customer
Experiences
€11m of
gross savings
Building
capability
2020
onwards
Bank of Ireland
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