Bank of Ireland 2019 Credit Presentation
Sustainable business income
Bank of Ireland 2019 Credit Presentation
40
40
FY 2018
FY 2019
6% growth in business income
(€m)
(€m)
Wealth and Insurance
250
277
Retail Ireland
267
254
Retail UK
(34)
(18)
Corporate and Treasury
145
154
•
Group Centre and other
2
(1)
11% increase in Wealth and Insurance:
New business sales (APE) increased by 11%
2% growth in Life market share to 22%
Penetration of bank customer base increased from 26%
to 32%
Retail Ireland income slightly lower from lower cash handling
fees and customer efficiency initiatives
Retail UK benefiting from improved commission mix
Business Income
630
666
Retail UK Cards and ATMs¹
42
Additional Gains
9
5
•
IFRS income classifications²
34
17
Valuation and other items
(56)
Other Income
659
686
Valuation and other items
Unit-linked assets valuation driven by movements in the value
of equity markets - 2019: €30m, 2018: (€27m)
Financial instrument valuation adjustments - 2019: (€37m),
2018: (€9m)
. Impact of interest rate movements in Wealth and Insurance -
2019: €5m, 2018: (€20m)
1 Classified as non-core in 2019
2 IFRS income classifications include c.€13m of interest income in 2019 on 'Life loan mortgage products' which on transition to IFRS 9 were
mandatorily classified as FVTPL, with all income on such loans reported in 'net other income'. IFRS income classifications are fully offset in net
interest income
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