Bank of Ireland Group PLC (LSE:BIRG)
€ 10.25 0.07 (0.69%) Market Cap: 10.72 Bil Enterprise Value: -9.15 Bil PE Ratio: 7.24 PB Ratio: 0.85 GF Score: 70/100

Half Year 2022 Bank of Ireland Group PLC Earnings Call Transcript

Aug 03, 2022 / 07:30AM GMT
Release Date Price: €5.93 (+4.84%)
Operator

Good morning, ladies and gentlemen. We will now listen to Bank of Ireland's Interim Results announcement for 2022 presented by CEO, Francesca McDonagh; and CFO, Mark Spain, followed by the Q&A. Please go ahead.

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

Good morning, everyone, and welcome to Bank of Ireland's Interim Results for 2022. Today, we are announcing a strong business performance, continued progress in the delivery of our strategy and a step change in our business model, supported by organic and inorganic growth opportunities. The key highlights from our H1 results are set out on Slide 5.

We delivered underlying profit before tax of EUR 419 million. Total income was modestly higher. We maintained our cost discipline. Our H1 return on tangible equity was 8.1%, and we remain on track to deliver sustainable RoTE in excess of 10% in the near term.

The Irish state has continued to reduce its shareholding in the group. This holding is now below 3%, and we expect this to fall to 0% this year,

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