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May 15 2024, 08:15 IST/BST
The exit from the Great Britan (GB) corporate lending business should not have a material impact on earnings forecasts but should positively benefit return on tangible equity (ROTE). Bank of Ireland’s (BIRG) GB strategy has evolved significantly in recent years, the majority of which was targeted at the Retail UK division to achieve improved profitability and higher ROTE. This is further evidence of banks repositioning businesses and exiting sub-scale areas, a key trend which we have seen across both Irish and European banks for some time.
May 15 2024, 08:15 IST/BST