Bank of Ireland Group plc (BIRG) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone. I'm Eamonn Hughes, Investor Relations Officer and you're all very welcome to Bank of Ireland's H1 2026 results presentation. You'll shortly hear from our CEO Myles O'Grady and CFO Mark Spain about a performance since the start of the year and then we'll open the floor to questions. So over to you Myles. Thanks Eamonn and good morning everyone. I'm pleased to report a profit before tax of 960 million, driving EPS growth of 36% and returns of 14.4%. We are meeting or beating all strategic targets, growing loans and deposits and wealth assets under management. All of this supports upgraded guidance for this year and reaffirms a positive outlook to 2028. On slide five, I've summarized our updated three-year strategy. And as a quick reminder, we are driving growth in Ireland, optimizing capital allocation, and investing for the future. All of which drive growth, create operating leverage, and substantially improve returns. Turn to the macro environment. Ireland is a highly attractive market, and we have an unrivaled position as Ireland's national champion bank. Ireland benefits from being an open economy but there are also some risks. And while the team and I remain alert to the uncertain geopolitical backdrop, the Irish economy is resilient. We expect the domestic economy to grow on average of 2-3% out to 2028 and the UK economy is also forecast to grow. Favourable demographics are also very supportive, whether that's growth in population or household wealth. Bank of Ireland's business model is uniquely positioned to both drive and benefit from this backdrop, supporting much needed home building, vital infrastructure investment and financial security and wealth creation for our customers. The strength of the Bank of Ireland franchise is translating...