Bank of Ireland have today released their latest Interim Management Statement for the first quarter of 2017.
The report indicates that the bank continues to trade in line with expectations with core markets of Ireland and the UK remaining positive notwithstanding ongoing uncertainties following the UK’s decision to leave the European Union.
Bank of Ireland said its Net Interest Income - which shows how profitable its lending is - rose to 2.3% for the first three months of the year, up from 2.27% in the second half of last year.
Furthermore, customer loan volumes were €78 billion at the end of March 2017. New lending in the first quarter of 2017 was in line with expectations and included a c.30% increase in ROI mortgage volumes relative to the first quarter of 2016.
Redemptions during the period included cash repayments on defaulted loans, Irish tracker mortgages and legacy run-down books and somewhat higher than expected redemptions in the bank's corporate businesses.
Customer deposits were €75 billion at the end of March 2017, in line with the end of December 2016. Wholesale funding was €16 billion at the end of March 2017.
Source: www.businessworld.ie
