Bank of Ireland earnings affected by downturn
The economic downturn at home and abroad continue to affect earnings at Bank of Ireland, the bank said today in an interim management statement.
The bank still expects to increase its level of customer lending this year, but says it is taking a "a prudent and selective approach to this growth in the current environment", given that it accepts house prices are due to slide further this year.
Considering the local and global economic position, the bank is adopting a "steady as she goes" position this year and said this morning: "The group's focus continues to be on managing our capital and funding positions, managing our credit risk in a supportive and prudent manner and rigorous cost control."
