Bank of Ireland Group plc (the
"Group")
Update on ECB Supervisory Review and
Evaluation Process
The Group has been notified of the
European Central Bank's final decision on the Group's own funds
requirements applicable from 1 January 2025 following the 2024
Supervisory Review and Evaluation Process (''SREP'').
The Group's Total Capital Requirement
for 2025 will be 15.90% (CET1 requirement of 11.35%, excluding
Pillar 2 Guidance)1. This reflects an increase of 5
basis points in the Group's Pillar 2 Requirement, resulting in a 3
basis point increase in CET1 requirements.
The Group's CET1 guidance of >14%
is unchanged.
1 Based on weighted RoI, UK and other
CCyBs at 30 September 2024.
Ends
For further information please
contact:
Bank of Ireland
|
Mark Spain, Group Chief Financial
Officer
|
+353 1 2508900 ext 43291
|
|
Eamonn Hughes, Chief Sustainability
& Investor Relations Officer
|
+353 (0)87
2026325
|
|
Darach O'Leary, Head of Group
Investor Relations
|
+353 (0)87 9480650
|
|
Damien Garvey, Head of Group External
Communications and Public Affairs
|
+353 (0)86 8314435
|
Forward Looking Statement
This announcement contains
forward-looking statements with respect to certain of the Bank of
Ireland Group plc (the 'Company' or 'BOIG plc') and its
subsidiaries' (collectively the 'Group' or 'BOIG plc Group') plans
and its current goals and expectations relating to its future
financial condition and performance, the markets in which it
operates and its future capital requirements. These forward-looking
statements often can be identified by the fact that they do not
relate only to historical or current facts. Generally, but not
always, words such as 'may,' 'could,' 'should,' 'will,' 'expect,'
'intend,' 'estimate,' 'anticipate,' 'assume,' 'believe,' 'plan,'
'seek,' 'continue,' 'target,' 'goal,' 'would,' or their negative
variations or similar expressions identify forward-looking
statements, but their absence does not mean that a statement is not
forward-looking.
Examples of forward-looking
statements include, among others: statements regarding the Group's
near term and longer term future capital requirements and ratios,
loan to deposit ratios, expected impairment charges, the level of
the Group's assets, the Group's financial position, future income,
business strategy, projected costs, margins, future payment of
dividends, future share buybacks, the implementation of
changes in respect of certain of the Group's pension schemes,
estimates of capital expenditures, discussions with Irish, United
Kingdom, European and other regulators, plans and objectives for
future operations, and the continued impact of Russia's invasion of
Ukraine and the Israeli-Palestinian conflict particularly on
certain of the above issues and generally on the global and
domestic economies. Such forward-looking statements are inherently
subject to risks and uncertainties, and hence actual results may
differ materially from those expressed or implied by such
forward-looking statements.
Such risks and uncertainties include,
but are not limited to, those as set out in the 'Principal Risks
and Uncertainties' section on page 26 of the Group's 2024 Interim
Report and also the discussion of risk in the Risk Management
Report in the Group's Annual Report for the year ended 31 December
2023.
Nothing in this announcement should
be considered to be a forecast of future profitability, dividend
forecast or financial position of the Group and none of the
information in this announcement is or is intended to be a profit
forecast, dividend forecast, or profit estimate. Any
forward-looking statement speaks only as at the date it is made.
The Group does not undertake to release publicly any revision to
these forward-looking statements to reflect events, circumstances
or unanticipated events occurring after the date hereof.