{"id":426816,"date":"2026-05-01T10:55:09","date_gmt":"2026-05-01T10:55:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/426816\/"},"modified":"2026-05-01T10:55:09","modified_gmt":"2026-05-01T10:55:09","slug":"bank-of-ireland-meets-internal-expectations-in-q1","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/426816\/","title":{"rendered":"Bank of Ireland meets internal expectations in Q1"},"content":{"rendered":"<p>Total income tracked in line with expectations for <a href=\"http:\/\/bankofireland.com\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Bank of Ireland<\/a> in the first quarter while total operating costs, including restructuring costs, rose 2% year-on-year.<\/p>\n<p>Net interest income was static compared to the same period last year, as higher deposits (+\u20ac4bn) and loans (+\u20ac1.25bn) offset lower average interest rates, foreign exchange impacts and planned deleveraging in exiting portfolios.<\/p>\n<p>The group has retained its existing full-year guidance for net interest income of \u20ac3.4bn, although the <a href=\"https:\/\/businessplus.ie\/economy-2\/ecb-rates-may26\/\" target=\"_blank\" data-type=\"post\" data-id=\"241741\" rel=\"noreferrer noopener nofollow\">ECB is expected to raises rates by 25bps in June<\/a>, which would generate a benefit of \u20ac45m over a whole year.<\/p>\n<p>Total fee income, including shares of associates and joint ventures, rose 1% in Q1, while growth in wealth income was offset by lower fee income in corporate &amp; commercial.<\/p>\n<p>The bank had net loans of \u20ac83.6bn at the end of Q1, up \u20ac1.1bn from the previous quarter and 5% on an annualised basis, and deposits were flat at \u20ac107.2bn reflecting seasonal effects.<\/p>\n<p>Bank of Ireland now has \u20ac60.3bn in assets under management, supported by net inflows of \u20ac1.1bn, and non-performing exposures as a share of its loan book fell from 2.2% to 2%.<\/p>\n<p>\u201cThe group had a strong Q1, underpinned by its successful strategy, the breadth of its franchise, and the resilient Irish economy,&#8221; said Myles O&#8217;Grady, CEO of Bank of Ireland.<\/p>\n<p>\u201cThe Group has started 2026 with momentum, with loans growing by 5% annualised, deposits strong at \u20ac107bn, and Wealth AUM net inflows of \u20ac1.1bn. Asset quality is strong across our portfolios and we remain vigilant to the evolving geopolitical environment.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" width=\"900\" height=\"650\" src=\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2026\/05\/Myles-OGrady.jpg\" alt=\"Bank of Ireland\" class=\"wp-image-132604\"  \/>Bank of Ireland group CEO Myles O&#8217;Grady. (Pic: Naoise Culhane)<\/p>\n<p>\u201cAs we conclude Q1, the Group reaffirms 2026 guidance and our financial targets out to 2028, including Return on Tangible Equity building to &gt;16%, and mid-to-high teens annual growth in Earnings Per Share.\u201d<\/p>\n<p>(Pic: Getty Images)<\/p>\n","protected":false},"excerpt":{"rendered":"Total income tracked in line with expectations for Bank of Ireland in the first quarter while total operating&hellip;\n","protected":false},"author":2,"featured_media":369657,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[61,60,43],"class_list":["post-426816","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ireland","tag-ie","tag-ireland","tag-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/426816","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=426816"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/426816\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/369657"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=426816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=426816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=426816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}