Bank of Ireland Group PLC (LSE:BIRG)
€ 9.89 0.25 (2.59%) Market Cap: 10.09 Bil Enterprise Value: -9.78 Bil PE Ratio: 7.02 PB Ratio: 0.83 GF Score: 71/100

Half Year 2021 Bank of Ireland Group PLC Earnings Call Transcript

Aug 03, 2021 / 07:30AM GMT
Release Date Price: €4.85 (+10.30%)
Operator

Good morning, ladies and gentlemen. We will now listen to the Bank of Ireland's Interim Results Announcement for 2021, presented by CEO, Francesca McDonagh; and CFO, Myles O'Grady, followed by a Q&A. Thank you.

Francesca Jane McDonagh
Bank of Ireland Group plc - Group CEO & Executive Director

Good morning, and you're very welcome to our results presentation. In the first half of 2021, we've seen a strong recovery in our performance. We've continued to deliver our strategy. We've maintained a laser-like focus on costs. Our economic outlook is increasingly positive with sentiment back to prepandemic levels, and we've announced 2 significant acquisitions. This progress is reflected in our results.

Group operating profit of EUR 465 million is up 72% compared with the same period last year. If we leave at the total year 2020 and compare our results to the same period in 2019, our underlying operating profit pre-impairment is up 7%. Our asset quality remains strong, supported by the improving economic backdrop and our net impairment charge of just

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