Financial Results

Bank of Ireland (UK) plc makes an annual statement on its financial results for the twelve months to 31 December.

“We have had a strong year in 2016 with continued progress and profitable growth for the Group. Our success was driven by many factors, including investing in award winning product propositions and by our employees delivering simple, flexible and accessible financial services products both directly and through partnerships with trusted and respected UK brands.”

Des Crowley, Bank of Ireland UK Chief Executive Officer

Des Crowley, CEO, Bank of Ireland UK plc, talks about the UK business and its financial performance in 2016.

2016 Highlights:

  • Underlying profit before taxation of £193 million; 5% increase on 2015 (2015: £183 million)
  • Over £500 million net growth in customer lending
  • Impairment charges: 48% reduction year on year at £23 million
  • Net interest margin 2.07% (2015: 2.11%)
  • A year of investment in partnerships and change
  • First equity dividend paid to Parent of £220 million
  • Strong organic generation of capital: CET 1 ratio 15.5%.  Total capital ratio 21.8%
  • Strong liquidity and funding position (Loan to Deposit ratio 102%)