Bank of Ireland UK Annual Report


2022 Key Highlights

statutory operating profit


before impairment losses


non core costs, including investment relating to strategic transformation


strong CET1 ratio

  • Financial performance
    • £286 million statutory operating profit before impairment losses.
    • Statutory net interest margin improved to 2.85%.
    • Statutory operating expenses reduced 9% year on year to £247 million.
    • Gross new lending £2.9 billion with a continued focus on lending at sustainable returns.
  • Transformation
    • £27 million non-core costs including investment relating to strategic transformation initiatives.
    • 11 of 13 branches in Northern Ireland refurbished with enhanced technology for customers, with the two remaining branches scheduled for refurbishment.
    • Enhanced online and digital capabilities including self-service card control features.
    • Investment in offices spaces and technology to support hybrid working.
  • Capital
    • Strong organic capital growth.
    • Optimised capital position and returns and paid a £250 million dividend.
    • Maintained strong CET1 ratio 18.4% (2021: 17.5%).
    • Total capital ratio 22.8% (2021: 21.4%).
  • Supporting customers and communities
    • Launched Money Insights (Mi365) on mobile banking app, enabling customers to improve their financial wellbeing by providing personalised insights on spending, bills, subscriptions and cash-flow.
    • Introduced a new the Cost of Living hub, providing a range of supports to customers challenged as a result of the increased cost of living.
    • Delivered 450 hours of financial wellbeing sessions to consumers, clubs and community groups across the UK.
    • Community programme, “Begin Together”, has provided financial support of £700,000 to more than 100 community and arts projects.