DAVY VIEW

The appointment was widely expected and will be welcomed by investors, bringing clarity at a challenging time for the banking sector. In his position as CFO, Eamonn Crowley has had widespread investor engagement since joining the bank in 2017 and has been instrumental in the key success of non-performing loan (NPL) deleveraging to build balance sheet resilience, which should serve the bank well in the current uncertain COVID-19 environment. Understandably, his near-term focus is on navigating the bank and its customers through COVID-19. However, as the country recovers and the longer-term impact of COVID-19 becomes clearer, we expect the focus to shift back towards the rebuild of sustainable profitability.