Bank Of Ireland Group Plc · EURONEXT:BIRG
Bank Of Ireland — H1 2025 Earnings Presentation
60 slides from Bank Of Ireland's earnings presentation, Jul 29, 2025
Slide 1: HY 2025 Interim Results Announcement
20 HY 2025 Interim Results Announcement 25 29 July 2025 1
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Slide 3: HY 2025 Performance - Group CEO Myles O'Grady
Co ers lle om ag st Purpose ue Cu s HY 2025 Performance Helping you Group CEO rs Thrive de So et ol h ci re Myles O’Grady y a Sh Bank of Ireland – The National Champion Bank Stronger Simpler Sustainable relationships business company 3
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Slide 5: Highly capital generative business model
Highly capital generative business model Attractive Irish economy resilient and growing; markets cumulative 2025-27 GDP growth of c.15% vs Euro area c.3% Unique market Market leading banking, wealth and assurance franchises position Delivering 2025-27 deposit and loan CAGR of 3-4%, AUM CAGR of 7-8%
Slide 6: Growing, generating capital and attractive returns in H125
Growing, generating capital and attractive returns in H125 +5% +5% +3% * * * Sustainable growth Irish loans Everyday Banking AUM deposit balances Good financial performance €0.7bn 48% 16.0% PBT CIR CET1 Generating attractive returns 14.8% 110bps 25c DPS ROTE Capital generation 1 40% payout ratio Sha
Slide 7: Strong strategic execution and momentum in H125
Strong strategic execution and momentum in H125 +61 +30 Stronger relationships Customer Effort Personal RNPS Growing Customer Score (+4pts y/y) (+9pts y/y) numbers Simpler business 80% -22% y/y PCA customers now Customer Better Customer digitally active1 complaints2 outcomes Sustainable company €15.
Slide 8: Irish economy continues to be resilient and growing
Irish economy continues to be resilient and growing Positive Irish growth outlook, outpacing Euro area Irish employment growth rates c.3x Euro area 8.1% 2.7% 2.6% 1.4% 1.5% 3.2% 3.2% 1.0% 0.6% 0.5% 0.6% 1.1% 1.3% 0.9% 2025F 2026F 2027F 2024 2025F 2026F 2027F n Ireland GDP n Euro area GDP n Ireland n
Slide 9: Irish residential mortgages: Strong position in a growing market
Irish residential mortgages: Strong position in a growing market +6% 40% growth in H1* Market share Irish mortgage book #1 provider (€35.4bn) of new mortgages since Q4 2022 €2.5bn EcoSaver (+17% y/y) Mortgage New mortgage lending Accounts for >90% of new business Irish mortgage market (flow) expecte
Slide 10: Everyday Banking: continued strong franchise performance
Everyday Banking: continued strong franchise performance €83.6bn €9.5bn (+5%* in H1) (11% of total volumes) Everyday Banking Term and Saver balances balances (€1.1bn H1 flow-to-term) Mobile app New launches upgrade in H2 Smart Start Youth App CES +66 Coming to Ireland (+5pts vs Dec) Delivering deepe
Slide 11: Wealth and Insurance: Inflows remain strong amid market volatility
Wealth and Insurance: Inflows remain strong amid market volatility €55.6bn €1.2bn (+3%* in H1) (4%* of opening AUM) Davy AUM New Ireland €30.3bn €25.3bn Net inflows €190m Davy New Ireland (+8% y/y) +77 RNPS +60 CES Total fee income (+3pts vs Dec) (+8pts vs Dec) Ireland’s #1 Wealth provider with clea
Slide 12: Corporate & Commercial: Irish lending and fee income growing
Corporate & Commercial: Irish lending and fee income growing €15.8bn -€1.0bn (+3%* in H1) Run-down of exiting portfolios Irish net lending (€1.4bn remaining) €83m 4.5% (+11% y/y) NPE ratio Fee income (2.8% Dec 2024) Disciplined capital allocation * annualised 12
Slide 13: Retail UK: performance in line with expectations
Retail UK: performance in line with expectations £17.3bn £112m Underlying PBT (H124 £167m) UK loan book (+4% in H1*) Normalised impairment charge 2.2% No change to motor finance provision NPE ratio (2.4% Dec 2024) (£143m) UK business generating sustainable returns * annualised 13
Slide 14: Continuing to deliver on our 2023-25 medium term targets
Continuing to deliver on our 2023-25 medium term targets 2023-2025 H125 Financial targets Performance Return on tangible equity c.15% 14.8% (ROTE) Cost-to-income < 50% 48% ratio (CIR) Progressive DPS Ordinary dividend 40% payout c.40% payout Considered FY24 buyback Surplus capital annually c.80% com
Slide 15: H125 results – key takeaways
H125 results – key takeaways Strong strategic execution in H125 FY25 ROTE and capital generation guidance unchanged Positive outlook to FY27 reiterated 15
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Slide 17: HY 2025 Financials - Group CFO Mark Spain
HY 2025 Financials Group CFO Mark Spain 17
Slide 18: H125 results – key financial takeaways
H125 results – key financial takeaways H1 performance Reiterating guidance Business momentum Irish loans and deposits +5%*; Fee income +4% FY25 key guidance unchanged ROTE (c.15%), capital generation (250-270bps) Upgrading NII to c.€3.3bn; increased impairment Maintained cost discipline charge (c.30
Slide 19: H125 financial performance
H125 financial performance H1 2024 H1 2025 y/y% (€m) (€m) Net interest income 1,802 1,665 -8% Business income 367 390 6% Additional expenses, valuation and other items 27 (23) nmf Total income 2,196 2,032 -7% Operating expenses (961) (987) 3% Levies and regulatory charges (111) (113) 2% Operating pr
Slide 20: FY NII guidance upgraded
FY NII guidance upgraded H125 net interest income drivers Loan H1 performance ahead of expectations asset 288bps 301bps spread Lending income higher reflecting growth in loan €75m (€247m) €35m volumes and structural hedge benefits, partially offset by GB Corporate run-down Funding costs lower reflec
Slide 21: Irish lending delivers excellent performance
Irish lending delivers excellent performance Net lending drivers H1 performance Irish loan book growth c.5%* mainly driven by mortgages (€0.8bn) Modest growth in Retail UK €0.3bn €1.3bn Reduction in International Corporate primarily (€1.1bn) reflects planned rundown in GB Corporate FX impacts primar
Slide 22: Wealth continuing to deliver strong net inflows
Wealth continuing to deliver strong net inflows AUM drivers H1 performance AUM +3%* €1.2bn (€0.4bn) Resilient net inflows c.4%* (of opening AUM), with particularly strong performance in Davy Market value impact predominantly due to USD weakness FY25 outlook €55.6bn c.5% growth in AUM, supported by i
Slide 23: Strong retail deposit franchise
Strong retail deposit franchise Total customer balances Everyday Banking – term % H1 performance €103bn €105bn 10.3% 11.3% Total deposits +4%* at €105bn, post negative FX impact of €0.6bn €83.6bn €6.6bn €6.7bn €81.7bn Everyday Banking deposits +5%* reflecting €14.8bn underlying growth, partially off
Slide 24: Structural hedge a key driver of positive NII outlook
Structural hedge a key driver of positive NII outlook Structural hedge (gross fixed leg income)1 H1 performance Avg Hedge at c.€66bn, average duration c.3.5yrs volume €64bn c.€66bn €67-68bn Rollover / addition of H1 swaps averaged 2.41% ............................ ............................ .....
Slide 25: Total business income +4% y/y
Total business income +4% y/y H1 2024 H1 2025 (€m) (€m) y/y % H1 performance in line with expectations Wealth and Insurance +8% driven by Davy wealth Wealth and Insurance 176 190 8% Retail Ireland reflects current account and Retail Ireland 134 132 -1% other fee income growth, offset by partnership
Slide 26: Operating expenses in line with guidance
Operating expenses in line with guidance Operating expenses drivers1 H1 performance Operating expenses +3% y/y €11m Levies and regulatory fees €113m (+2% y/y) (€7m) €22m FY25 outlook Operating expenses c.3% higher vs FY24 Levies and regulatory fees of c.€130m €987m €961m H124 Staff costs Other costs
Slide 27: Non-core items mainly relate to restructuring charges
Non-core items mainly relate to restructuring charges H1 2024 H1 2025 Non-core items H1 performance (€m) (€m) Portfolio divestments includes residual income Portfolio divestments 25 5 from UK personal loans disposal Restructuring and transformation includes Restructuring and transformation (25) (71)
Slide 28: Robust asset quality
Robust asset quality Group loan asset quality Asset quality remains strong 1.2% 2.2% 1.4% 2.6% Stage 2 loans reduced to €9.6bn, coverage 2% 2% 13% 12% increased to 3.7% (Dec 2024 €10.5bn and 3.4%); reduction primarily reflects improvement in retail and CRE portfolios 86% 85% Stage 3 loans increased
Slide 29: Impairment charge reflects portfolio activity and management adjustments
H1 charge reflects portfolio activity and additional management adjustments Impairment charge components1 H1 net loan loss experience (annualised) Cost of risk Net loan loss experience and portfolio activity 23bps 10bps 33bps charge of €97m, 23bps annualised Loan loss experience mainly related to US
Slide 30: Strong organic capital generation in line with guidance
Strong organic capital generation in line with guidance H1 performance RWAs RWAs Basel IV benefit of 115bps €55.3bn €52.2bn Organic capital generation of 110bps RWA investment of 35bps primarily from lending €3.6bn reduction and CRT amortisation in RWA 110bps (35bps) (45bps) Interim dividend €243m -
Slide 31: FY25 guidance supported by H1 performance
FY25 guidance supported by H1 performance Income Operating expenses NII c.€3.3bn c.3% higher Growth in total business Cost-to-income ratio < 50% income (incl. JVs) of c.5% Strong capital generation of 250-270bps Cost of risk ROTE c.30bps c.15% Delivering on our 2023-2025 financial targets 31
Slide 32: Bank of Ireland's highly capital generative business model
Bank of Ireland’s highly capital generative business model Diffe Outlook for strong e ren Market leading positions c tiv ti growth in Ireland, well a m at across our banking, wealth tr s o above EU levels et and assurance franchises m y at ed el k d bu ar hl Hig sine ss Strong capital generation and
Slide 33: Footnote glossary
Footnote glossary Slide 5: Highly capital generative business model Slide 26: Operating expenses in line with guidance 1. Cost-to-income ratio excludes levies and regulatory fees. Basis of 1. Operating expenses, excluding levies and regulatory charges of €113m calculation set out on slide 55 2. Basi
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Slide 35: Appendix
= Bank of Ireland Appendix 35
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Slide 37: Appendix - table of contents
Appendix - table of contents Slide No. • Overview of customer loans and new lending volumes 38 • Ireland mortgages 39 • Net interest income analysis 40 • Bond portfolio and additional NII disclosures 41 • Asset quality – Non-performing exposures by portfolio 42 – Portfolio by stage 43 – Residential
Slide 38: Overview of customer loans
Overview of customer loans Profile of customer loans1 at Jun 2025 (gross) Composition (Jun 25) ROI (€bn) UK (€bn) RoW (€bn) Total (€bn) Total (%) Mortgages 35.5 15.5 0.0 51.1 61% Non-property SME & Corporate 11.1 3.6 4.6 19.3 23% SME 7.3 1.4 0.0 8.8 11% Corporate 3.8 2.2 4.5 10.5 13% Property and Co
Slide 39: Ireland mortgages: €35bn
Ireland mortgages: €35bn New lending volumes and market share Ireland mortgages (gross) 41% 41% 40% €32.0bn €34.0bn €35.0bn €22.5bn 24% €25.5bn €24.2bn €2.5bn €23.0bn €2.4bn €2.1bn €15.6bn €1.3bn €3.6bn €5.2bn €5.2bn €1.6bn €5.3bn €5.4bn €4.6bn €4.3bn H122 H123 H124 H125 Dec-22 Dec-23 Dec-24 Jun-25
Slide 40: Net interest income analysis
Net interest income analysis H2 2023 H1 2024 H2 2024 H1 2025 Average Gross Gross Average Gross Gross Average Gross Gross Average Gross Gross Volumes interest Rate Volumes interest Rate Volumes interest Rate Volumes interest Rate (€bn) (€m) (%) (€bn) (€m) (%) (€bn) (€m) (%) (€bn) (€m) (%) Ireland Loa
Slide 41: Bond portfolio and additional NII disclosures
Bond portfolio and additional NII disclosures Euro bond portfolio holdings €14.6bn (end Jun 2025) Loan asset spreads expanding despite lower rates 3.85% 3.97% Senior 3.49% €0.6bn 3.07% 3.08% Irish Sovereign Bonds 2.82% 3.01% €4.7bn 2.97% 2.88% 2.52% 2.61% Agency €2.3bn 1.88% H223 H124 H224 H125 Loan
Slide 42: Non-performing exposures by portfolio
Non-performing exposures by portfolio Non-performing Impairment loss Advances Non-performing exposures Impairment loss Composition (Jun 25) (€bn) (€bn) exposures as % of allowance (€bn) allowance as % of advances non-performing exposures Residential Mortgages 51.1 0.8 1.6% 0.2 24% – Ireland 35.5 0.
Slide 43: Portfolio by stage
Portfolio by stage Gross carrying amount Composition (Jun 25) Impairment loss allowance (before impairment loss allowance) ILA % of Stage 1 Stage 2 Stage 3 POCI Total Stage 1 Stage 2 Stage 3 POCI Total gross loans Sectoral Analysis by Stage €m €m €m €m €m €m €m €m €m €m Residential mortgages 47,851
Slide 44: Residential mortgages / Consumer loans
Residential mortgages / Consumer loans Gross loans by Stage Residential mortgages1 Consumer Residential mortgages €5.7bn €50.3bn €50.8bn €5.1bn • Mortgage portfolios 61% of Group loan book €0.7bn €0.1bn €0.2bn €0.7bn €0.1bn – Average LTV of 54% on stock €2.2bn €0.3bn €2.4bn – 88% of the portfolio ha
Slide 45: Non-property SME and Corporate / Property and Construction
Non-property SME and Corporate / Property and Construction Gross loans by Stage Non-property SME and Corporate Property and Construction Non-property SME and Corporate €20.4bn €19.3bn €7.4bn €7.3bn • 23% of Group loan book, well diversified by geography and sector • Stage 2 loans remained stable at
Slide 46: Forward Looking Information (FLI) – macroeconomic scenarios
Forward Looking Information (FLI) – macroeconomic scenarios Ireland United Kingdom 30 June 2025 2025 2026 2027-2029 2025 2026 2027-2029 Probability weighted scenario Modified domestic demand1 2.0% 1.8% 2.1% n/a n/a n/a GDP growth1 2.8% 2.9% 3.1% 0.5% 0.6% 1.4% GNP growth1 2.3% 2.4% 2.6% n/a n/a n/a
Slide 47: ILA sensitivity to macroeconomic scenarios
ILA sensitivity to macroeconomic scenarios The following table indicates the approximate extent to which impairment loss allowance (ILA), excluding Group management adjustments, would be higher or lower than reported were a 100% weighting applied to the central, upside and downside future macroecono
Slide 48: Summary balance sheet
Summary balance sheet Dec 24 (€bn) Jun 25 (€bn) Liquidity • Funding and liquidity remains strong from stable customer deposits Customer loans 83 82 Liquid assets 44 45 Wealth and Insurance assets 28 27 Customer deposits: €105bn Other assets 7 8 • Overall Group customer deposit volumes of €105bn were
Slide 49: Ordinary shareholders' equity and TNAV
Ordinary shareholders’ equity and TNAV Dec 24 Jun 25 Movement in ordinary shareholders’ equity (€m) (€m) Ordinary shareholders’ equity at beginning of period 11,592 11,947 Movements: Profit for the period 1,531 608 Share buy back - repurchase of shares (520) (429) Dividend paid to ordinary sharehold
Slide 50: Fully Loaded CET1 ratio
Fully Loaded CET1 ratio Fully loaded ratio (€bn) Fully loaded ratio (€bn) Capital ratios – 30 June 2025 Dec 24 Jun 25 Total equity 13.0 13.1 Foreseeable distribution1 (0.9) (0.4) H1 retained profits 2 - (0.4) Less Additional Tier 1 (1.1) (1.5) Deferred tax 3 (0.6) (0.5) Intangible assets and goodwil
Slide 51: Regulatory capital requirements
Regulatory capital requirements Pro forma CET1 regulatory capital requirements 2024 2025 2026 Pillar 1 – CET1 4.50% 4.50% 4.50% Pillar 2 Requirement (P2R) 1.32% 1.35% 1.35% Capital Conservation Buffer (CCB) 2.50% 2.50% 2.50% Ireland Countercyclical Buffer (CCyB) 0.99% 1.02% 1.02% UK Countercyclical
Slide 52: Risk Weighted Assets (RWAs) / Leverage ratio
Risk Weighted Assets (RWAs) / Leverage ratio EBA transparency exercise 2024 Customer lending average credit risk weights – Jun 20251, 2 Country by country average IRB risk weights (Based on regulatory exposure class) Residential Mortgages – Jun 2024 EAD 3 RWA Avg. Risk Sweden 5.0% (€bn) (€bn) Weight
Slide 53: Divisional P&L
Divisional P&L Operating profit pre-impairment Underlying profit / (loss) before tax 6 months ended June 2025 (€m) (€m) Retail Ireland 707 696 Wealth and Insurance 64 64 Retail UK - € 133 133 Retail UK - £ 112 112 Corporate & Commercial 407 290 Group Centre & other (379) (379) Group 932 804 Operatin
Slide 54: Return on Tangible Equity (ROTE)
Return on Tangible Equity (ROTE) Headline vs. Adjusted Adjustments Other expenses / H1 2025 Adjusted for H1 2025 income and other Pension Headline CET1 ratio Adjusted valuation items, surplus (€m) at 14.0% (€m) net of tax Profit for the period 608 Coupon on Additional Tier 1 securities (36) Preferen
Slide 55: Underlying cost-to-income ratio
Underlying cost-to-income ratio Headline vs. Adjusted H1 2025 Pro forma H1 2025 Headline adjustments Pro forma (€m) (€m) (€m) Net interest income 1,665 1,665 Other income – Business income 390 390 – Additional expenses and other valuation items (23) 23 0 Total income 2,032 23 2,055 Costs – Operating
Slide 56: Sustainable company: Practical, meaningful H125 stakeholder outcomes
Sustainable company: Practical, meaningful H125 stakeholder outcomes Supporting the Green €15.5bn New SME supports Transition Sustainable lending +24% y/y Launch of Sustainable Business Coach and End-2025 Target met in Q1 new Green Business Loan Enhancing Financial #1 New Consumer tools Wellbeing Ba
Slide 57: Defined benefit pension schemes
Defined benefit pension schemes Group IAS19 defined benefit pension surplus Total Group defined benefit pension scheme assets (%) 4.15% 3.60% 3.80% €9.6bn €6.9bn €7.1bn €7.0bn €6.5bn 3.40% 69% 70% 69% 1.35% 66% 66% €0.99bn €0.83bn €0.60bn €0.70bn €0.68bn 24% 29% 25% 25% 26% 10% 5% 6% 5% 5% Dec-21 De
Slide 58: Forward-looking statement
Forward-looking statement This announcement contains forward-looking statements with respect to certain of Bank of Ireland Group plc (the ‘Company’ or ‘BOIG plc’) and its subsidiaries’ (collectively the ‘Group’ or ‘BOIG plc Group’) plans and its current goals and expectations relating to its future
Slide 59: Contact details
Contact details For further information please contact: • Group Chief Financial Officer Mark Spain tel: +353 1 250 8900 ext. 43291 mark.spain@boi.com • Investor Relations Eamonn Hughes tel: +353 87 202 6325 eamonn.hughes@boi.com Philip O’Sullivan tel: +353 86 358 7674 philip.osullivan1@boi.com Owen
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Bank of Ireland Group — H1 2025 Earnings Presentation on 6ix