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Reuters: Bank of Ireland raises full-year forecasts

Reuters
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Reuters
Published Jul 31, 2023

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Bank of Ireland raised its full-year guidance on Monday and expects net interest income in the second half of the year to be marginally higher than the first when a 68% year-on-year jump drove a more than doubling in profits.

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The European Central Bank has since lifted borrowing costs by a combined 425 basis points.

Ireland's largest lender by assets said its business income for the rest of the year is expected to be broadly in-line with the first half, when it rose 23% and that its full year return on tangible equity (ROTE) would be similar to the 18.5% posted in the first half.

($1 = 0.9083 euros)

(Reporting by Padraic Halpin, Editing by Louise Heavens)

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