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BANK OF IRELAND GROUP PLC

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Bank of Ireland : Interim Results 2021 - Presentation - 521 KB

09/20/2021 | 12:32pm EDT

20

2 1

2021 Interim Results Announcement

30 June 2021

3

Bank of Ireland 2021 Interim Results

Group CEO

Francesca McDonagh

Strong performance in H1 2021

5

Bank of Ireland 2021 Interim Results

H1 2021

Performance

Asset Quality

Transformation

Capital

€465m

Underlying profit

before tax

5.5%

NPE ratio

4%

Reduction

in costs

15.3%

Regulatory

CET1 ratio

  • Operating profit pre-impairment +72% vs H1 2020
  • Total income +14%; higher net interest income, business income and valuation items
  • Strong UK performance; operating contribution +52% on higher margins and lower cost
  • Impairment charge of €1m reflecting improved economic outlook and minimal loan loss experience
  • NPE ratio reduced to 5.5%, supported by €0.3bn Irish mortgage securitisation
  • 99% of payment breaks now concluded with minimal impact on asset quality
  • 7th straight reporting period of sustainable cost reductions
  • End-to-Endcustomer journey programme delivering c.€60m in annualised cost savings
  • Ongoing progress in systems transformation with digital fulfilment now at 75%
  • Strong capital position; Fully Loaded CET1 ratio 14.1%
  • Pre-impairmentorganic capital generation of 90bps H1 2021 vs 45bps H1 2020
  • Sufficient capital to execute proposed inorganic KBC and Davy opportunities

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Bank of Ireland Group plc published this content on 20 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 September 2021 16:31:05 UTC.


© Publicnow 2021
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Sales 2021 2 851 M 3 321 M 3 321 M
Net income 2021 683 M 796 M 796 M
Net Debt 2021 - - -
P/E ratio 2021 8,39x
Yield 2021 2,94%
Capitalization 5 611 M 6 526 M 6 535 M
Capi. / Sales 2021 1,97x
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Francesca Jane McDonagh Chief Executive Officer & Executive Director
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