Bank Of Ireland Group Plc · EURONEXT:BIRG
Bank Of Ireland — H1 2026 Earnings Presentation
56 slides from Bank Of Ireland's earnings presentation, Jul 31, 2026
Slide 1: HY 2026 Interim Results Announcement
HY 2026 Interim Results Announcement 31 July 2026
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Slide 3: H126 Performance
01 H126 Performance Myles O’Grady Group CEO 3
Slide 4: H126 results – Key takeaways
H126 results – Key takeaways Strong start to new strategic cycle Growth in all areas Upgraded FY26 guidance Positive outlook to FY28 reiterated 4
Slide 5: Strategy 2028: Growth | Operating Leverage | Returns
Strategy 2028 Growth | Operating Leverage | Returns Driving growth Optimising capital Investing for in Ireland allocation the future Grow in our home market Focus the Group portfolio on Deploy digital, data and AI capabilities while expanding fee income high returns with disciplined that improve cus
Slide 6: Ireland | Highly attractive home market
Ireland | Highly attractive home market Ireland avg Modified Domestic Demand* 2026-2028 +2.7% (vs 2026-2028 c.1% avg GDP Euro area) Resilient, fast-growing economy Ireland unemployment rate June 2026 5.0% (Euro area 6.3% June 2026) Expected growth in Irish population to 6.2m by 2040 Favourable trend
Slide 7: Customer volumes to grow >12% over FY26-28
Customer volumes to grow >12% over FY26-28 Deposits Loans c.3% >€115bn c.4% €108.5bn €107.5bn >€90bn €84.0bn €82.5bn AUM Total customer volumes (TCV) c.10% >4% >€280bn c.€258bn c.€250bn >€75bn €65.5bn €60bn n FY25 n HY26 n FY28e Volume CAGR FY25-28 Unrivalled position in Irish market; H1 +6%* growth
Slide 8: Excellent momentum in H126
Excellent momentum in H126 +7%* +3%* +18%* +31 Franchise Irish loans Everyday Banking AUM Personal RNPS deposits +1ppt y/y +7% +2% 51% €1.0bn Total income Total costs CIR1 PBT Financial 14.4% +36% 39c 135bps ROTE EPS Interim DPS Capital generation +56% 15.5% CET1 * Annualised; all other comparative
Slide 9: Retail Ireland Everyday Banking | Driving growth in Ireland
Retail Ireland Everyday Banking | Driving growth in Ireland H1 performance Sustained growth in Strategy 2028 Everyday Banking balances €88.0bn Leading share of new flows, deepen Everyday Banking1 balances customer relationships in this core (+3% annualised) franchise and drive Group cross-sell R Ret
Slide 10: Retail Ireland Home Buying | The market leader
Retail Ireland Home Buying | The market leader H1 performance #1 flow share in a growing market Strategy 2028 BOI market share % Disciplined book growth to 2028 €38.5bn and new lending €bn Irish mortgage book Retain: Ireland’s # 1 mortgage 41% 40% 40% provider Grow: 5% CAGR book growth CAGR 13% to 2
Slide 11: Wealth and Insurance | Strong AUM momentum
Wealth and Insurance | Strong AUM momentum H1 performance The engine of fee income growth Strategy 2028 Invest and protect for the future. €65.5bn R Ireland’s wealth leader CAG come AUM e in 9% Fe Retain: Ireland’s #1 position as +18%* €211m provider of choice income €190m Fee Grow: HNW, Affluent &
Slide 12: Retail UK | Growing income with focus on value over volume
Retail UK | Growing income with focus on value over volume H1 performance Selective lending focused on Strategy 2028 disciplined returns Full service retail bank in Northern Ireland +8% H125 H126 & specialised GB lender Total income £232m £251m Total Retain: Diversified customer profile vs H125 Inco
Slide 13: Corporate & Commercial | Optimising capital to support growth in Ireland
Corporate & Commercial | Optimising capital to support growth in Ireland H1 performance 4%* growth in loan book Strategy 2028 Augment leadership position in Ireland, +14%* deepen and grow business through Irish SME and Corporate relationship banking model net lending €0.3bn (€0.6bn) Retain: Ireland’
Slide 14: Growing and strengthening our unrivalled position in Irish market
Growing and strengthening our unrivalled position in Irish market H1 deliveries New mobile UK payments Leading Irish bank 2026 app enhancements employer rankings1 New customer AI learning academy brand for SME customers Key areas of focus out to 2028 Retail Ireland Retail UK Wealth and Insurance Cor
Slide 15: Bank of Ireland business model creating operating leverage
Bank of Ireland business model creating operating leverage FY28 CIR 600bps lower to mid 40s Delivering c.€250m in cost efficiencies 2026-28 R >4% e CAG Incom Operating efficiency Operating AI-enabled to FY28 model 35% 35% process c.600bps excellence Costs CAGR c.1% 30% FY25 FY28e Income Costs 3rd pa
Slide 16: Progress on a range of AI-enabled initiatives through H1
Progress on a range of AI-enabled initiatives through H1 Scalable AI platform established AI Centre of Excellence mobilised Enterprise AI foundations Responsible AI framework implemented Adoption via AI Champions, M365 Copilot rollout (c.9.5k colleagues) KYC: Average handling time (AHT) lo
Slide 17: Strategy 2028 driving significant shareholder value
Strategy 2028 driving significant shareholder value >4% Income CAGR Mid 40s Unrivalled market position and franchise breadth c.1% Cost CAGR CIR FY28 Highly attractive home market Build to >16% ROTE Disciplined growth and momentum in FY28 (>500bps vs Creating operating leverage FY25) Strong capital g
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Slide 19: H126 Financials
02 H126 Financials Mark Spain Group CFO 19
Slide 20: H126 results – key financial takeaways
H126 results – key financial takeaways H1 performance Guidance Business momentum* Irish loans +7%, Irish deposits +3%, AUM +18% FY26 guidance upgraded NII growing and resilient NII +2% y/y; structural hedge increased by €8bn in July Reiteration of FY28 ROTE Attractive shareholder returns building to
Slide 21: H1 financial performance
H1 financial performance Income statement H1 2025 H1 2026 Net interest income 1,665 1,705 Non-interest income (incl valuation items) 376 473 Total Income 2,041 2,178 Operating expenses (incl levies / regulatory fees) (1,171) (1,177) Net impairment charge (137) (32) Non-core items (12) (9) Profit bef
Slide 22: NII growing in 2026; guidance upgraded
NII growing in 2026; guidance upgraded H126 net interest income drivers Loan asset 301bps €59m (€49m) 316bps H126 performance spread €69m (€39m) NII +2% y/y Growing balance sheet and structural €1,705m hedge partially offset by lower rates and €1,665m deleveraging Deleveraging primarily reflects pla
Slide 23: Growing loan book, with excellent performance in Irish franchise
Growing loan book, with excellent performance in Irish franchise Net lending drivers H126 performance Growth of 4%* in Group net loans Ireland +7%* reflecting growth in mortgages €2.2bn (€0.5bn) (€0.5bn) and business lending €0.3bn Retail UK reflecting disciplined approach to mortgage lending Intern
Slide 24: Customer deposits growing, driven by Irish franchise
Customer deposits growing, driven by Irish franchise Total customer deposit volumes H126 performance €107.5bn +2% €108.5bn Dec 25 Annualised vs Dec Jun 26 Total deposits +2%* Everyday Banking volumes +3%* to €88bn; flow to term €0.5bn (H125 €1.0bn) Irish Everyday Banking volumes Corporate deposits €
Slide 25: Structural hedge key driver of NII trajectory in FY26 and beyond
Structural hedge key driver of NII trajectory in FY26 and beyond Structural hedge (gross fixed leg income)* H126 performance Fixed leg income +13% y/y Avg volume c.€66bn c.€68bn c.€71bn Average hedge volume c.€68bn (exit volume €69.1bn); average duration c.3.5yrs Avg 1.84% 2.01% c.2.11% yield Rollov
Slide 26: Fee income growth of +6% y/y
Fee income growth of +6% y/y H1 2025 H1 2026 Fee income H126 performance (€m) (€m) Wealth and Insurance 190 211 Wealth and Insurance +11%, AUM +18%* Retail Ireland 132 128 • Excellent performances in Davy and NIAC Retail UK 2 5 • 50% of total fee income Corporate & Commercial 83 81 Retail Ireland re
Slide 27: Total costs +2%, in line with guidance
Total costs +2%, in line with guidance Total costs drivers1 H126 total costs performance (including restructuring) Staff/other costs reflect inflation and Cost investment income 51.3% 50.5% ratio Efficiencies equivalent to c.4% of H125 €71m (€41m) costs (€13m) Restructuring costs €58m (H125 €71m) Le
Slide 28: Positive H1 impairment outturn supports improved FY guidance
Positive H1 impairment outturn supports improved FY guidance Impairment charge components1 H126 net loan loss experience and portfolio activity: Cost of risk 8bps • charge of €5m, net of €32m of credit (annualised) insurance (€16m) (€32m) • reflects net writebacks on portfolio activity through mana
Slide 29: Continued excellent organic capital generation
Continued excellent organic capital generation CET1 ratio H126 performance RWAs RWAs Organic capital generation of 135bps €55.8bn €57.3bn RWA growth primarily reflects lending, CRT amortisation and FX Foreseeable dividend 65bps (c.50% 135bps (35bps) payout); ordinary dividend of €373m (65bps) (DPS 3
Slide 30: Upgraded FY26 guidance
Upgraded FY26 guidance Total costs (operating expenses Net interest income plus restructuring costs) c.€3.5bn c.€2.2bn; +c.2% y/y Statutory Cost Income Ratio Fee income +c.4% y/y ROTE Flat vs FY25 >14% Capital generation Cost of Risk c.270bps Mid to high teens bps EPS growth anticipated at >35% 30
Slide 31: Strategy 2028
STRATEGY 2029 strategic Pillars SsaujsnO Resilient Company
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Slide 33: Footnote glossary
Footnote glossary Slide 6 Ireland | Highly attractive home market Slide 26 Fee income growth of +6% y/y Sources: Bank of Ireland Economic Research Unit (ERU); ECB; Ireland Central 1. Total fee income including share of associates and JVs in FY25 of €816m Statistics Office (CSO); Eurostat; Davy Wealt
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Slide 35: Appendices
03 Appendices 35
Slide 36: Appendices - table of contents
Appendices - table of contents Slide No. • BOI overview – customer loans / new lending volumes 37 • Ireland mortgages 38 • Net interest income analysis 39 • Additional NII disclosures 40 • Asset quality – Non-performing exposures by portfolio 41 – Portfolio by stage 42 – Forward Looking Information
Slide 37: Overview of customer loans
Overview of customer loans Profile of customer loans1 at Jun 2026 (gross) Composition (Jun 26) ROI (€bn) UK (€bn) RoW (€bn) Total (€bn) Total (%) Mortgages 38.7 14.4 0.0 53.1 63% Non-property SME & Corporate 11.6 2.9 4.1 18.5 22% SME 7.2 1.2 0.0 8.5 10% Corporate 4.3 1.6 4.1 10.0 12% Property and Co
Slide 38: Ireland mortgages: €38.1bn
Ireland mortgages: €38.1bn New lending volumes and market share Ireland mortgages (gross) 41% 41% 40% 40% €37.0bn €38.1bn €34.0bn €32.0bn €27.7bn €29.6bn €2.7bn €24.2bn €2.4bn €2.5bn €23.0bn €2.1bn €3.6bn €5.2bn €5.3bn €4.8bn €5.4bn €4.6bn €4.0bn €3.7bn H123 H124 H125 H126 Dec 23 Dec 24 Dec 25 Jun 2
Slide 39: Net interest income analysis
Net interest income analysis H2 2024 H1 2025 H2 2025 H1 2026 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 40: Net interest income analysis
Net interest income analysis Bond portfolio holdings €23.5bn (end Jun 2026) Loan asset spreads expanding despite lower rates 3.49% 3.20% Senior 3.01% 3.16% €0.4bn 2.82% 2.52% Irish Sovereign Bonds 2.61% €5.1bn 2.00% Agency 1.88% 2.02% €4.5bn 1.64% 1.55% RMBS €0.2bn H224 H125 H225 H126 Avg ECB depo r
Slide 41: Non-performing exposures by portfolio
Non-performing exposures by portfolio Non-performing Impairment loss Advances Non-performing exposures Impairment loss Composition (Jun 26) exposures as % of allowance as % of (€bn) (€bn) allowance (€bn) advances non-performing exposures Residential Mortgages 53.1 0.7 1.2% 0.2 35% – Republic of Ire
Slide 42: Portfolio by stage
Portfolio by stage Gross carrying amount Composition (Jun 26) 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 49,853
Slide 43: Forward Looking Information (FLI) – macroeconomic scenarios
Forward Looking Information (FLI) – macroeconomic scenarios Ireland United Kingdom 30 June 2026 2025 2026 2027 2028-30 2025 2026 2027 2028-30 Probability weighted scenario Modified domestic demand1 4.9% 2.0% 1.7% 2.0% n/a n/a n/a n/a GDP growth1 12.3% 1.2% 2.7% 2.9% 1.4% 0.2% 0.3% 1.5% Unemployment
Slide 44: Capital and liquidity
Capital and liquidity Dec 25 (€bn) Jun 26 (€bn) Liquidity Customer loans 82 84 • Funding and liquidity remains strong from growing customer deposits. Liquid assets 46 46 Wealth and Insurance assets 29 31 Customer deposits: €109bn Other assets 8 8 • At 30 June 2026, Group customer deposit volumes of
Slide 45: Ordinary shareholders’ equity and TNAV
Ordinary shareholders’ equity and TNAV Dec 25 Jun 26 Movement in ordinary shareholders’ equity (€m) (€m) Ordinary shareholders’ equity at beginning of period 11,947 11,727 Movements: Profit for the period 1,201 783 Remeasurement of the net defined benefit pension asset (net of tax) (129) (112) Other
Slide 46: CET1 ratio
CET1 ratio Regulatory CET1 (€bn) Regulatory CET1 (€bn) Capital ratios – 30 Jun 2026 Dec 25 Jun 26 Total equity 12.9 13.0 Foreseeable distribution¹ (1.0) (0.8) H1 retained profits² - (0.4) Less Additional Tier 1 (1.2) (1.2) Deferred tax³ (0.4) (0.3) Intangible assets and goodwill (1.0) (1.0) Expected
Slide 47: Regulatory capital requirements
Regulatory capital requirements Pro forma CET1 regulatory capital requirements 2026 Pillar 1 – CET1 4.50% Pillar 2 Requirement (P2R) 1.35% Capital Conservation Buffer (CCB) 2.50% Ireland Countercyclical Buffer (CCyB) 1.02% UK Countercyclical Buffer (CCyB) 0.47% US and other 0.05% O-SII Buffer 1.50%
Slide 48: Risk Weighted Assets (RWAs)
Risk Weighted Assets (RWAs) Customer lending average credit risk weights – Jun 20261, 2 EBA transparency exercise 2025 Country by country average IRB risk weights (Based on regulatory exposure class) Residential Mortgages – Jun 2025 EAD 3 RWA Avg. Risk Sweden 5.7% (€bn) (€bn) Weight Belgium 8.9% Fra
Slide 49: Cost Income Ratio
Cost Income Ratio Headline vs. Adjusted H1 2026 Pro forma H1 2026 Headline adjustments Pro forma (€m) (€m) (€m) Net interest income 1,705 1,705 Other income – Total fee income including share of associates/JVs 423 423 – Additional expenses and other valuation items 50 (50) 0 Total Income 2,178 (50)
Slide 50: Sustainability strategy execution: practical, meaningful outcomes in H126
Sustainability strategy execution: practical, meaningful outcomes in H126 Supporting the Green Supporting Housing & Supporting Social Transition Social Infrastructure Inclusion Providing €19.3bn of Sustainable Supporting the construction of 26,000 164,000 attendees at BOI Financial Finance to the re
Slide 51: Forward-Looking Statement
Forward-Looking Statement This document 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 fina
Slide 52: 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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Slide 56: HY 2026 Results
HY 2026 Results Investor.Relations@boi.com investorrelations.bankofireland.com
Bank of Ireland Group — H1 2026 Earnings Presentation on 6ix