€10.27 in Dublin just now. Up over 4% Not bad. |
Disappointed with the reaction even after the drop prior to Q3 Update. |
strange sell off. now 20% off recent highs |
 (Alliance News) - Bank of Ireland Group PLC on Wednesday maintained its financial guidance for 2024, despite recording lower net interest income in the year so far.
Shares were down 5.3% to EUR8.41 early Wednesday in London.
The Dublin-based lender said net interest income was down 3% in the nine months that ended September 30 from a year before. On a like-for-like basis, it was down 1%. Bank of Ireland said this was in line with its expectations, given lower interest rates in the eurozone.
"This performance reflects the evolving interest rate environment, growth in lending income particularly in Ireland, higher funding costs (market and customer) and continued commercial pricing discipline," Bank of Ireland said.
It kept net interest income guidance for 2024 at about EUR3.55 billion, "notwithstanding modestly lower interest rate expectations". This will be down 4.3% from EUR3.71 billion in 2023, though still well up from EUR2.49 billion in 2022.
Bank of Ireland now expects a year-end European Central Bank deposit rate of 3.00%, compared to its previous forecast of 3.25%. The deposit rate currently stands at 3.25%, after the ECB cut rates by 25 basis points earlier this month.
Turning to costs, Bank of Ireland said operating expenses were up 6% in the recent nine months, in line with expectations. Cost to income ratio was 45%. Its cost guidance for all of 2024 is unchanged.
Return on tangible equity is expected to be ahead of 2023's 17.3%.
"As we approach the end of the second year of our three-year strategic cycle, our highly capital generative and differentiated business model, operating in structurally attractive and growing markets, positions us well to continue to support our customers, invest in our business and deliver attractive returns for our shareholders," Chief Executive Myles O'Grady said.
The bank's fully loaded CET1 ratio was 15.6% as of the end of September. |
Dividend payable 7th Nov, may take a few days to hit account. |
Nice share price rise today, currently up just over 5% |
I was wrong about when an interim dividend would be paid. 7th November this year. |
35cents ! Wowowowo ! Relating to 1H2024 ! Cracking that ! Interim divi - they had too as the capital position is just too high i reckon |
Yes, Interim results 31st July just after 7 AM. |
I think the interim dividends start in 2025. Happy to be proved wrong. |
Oh am pretty sure its wed july 31st - same as last year / just waiting for interims divis grand ! |
Update 2nd August. Till then there will be up and down trading days. |
What is causing them to swing by 5 or 6 percent a day? |
Save some for the balance of your tax liability and put the rest on a horse. The market is so unpredictable but we did well with BOI |
Funds in Degiro! Now what to do with them? |
Fair play ! Yep got in davys today - so thats 2 days as expected - last year was over a week ! Hopefully more later in the year i think with ?nterim Divis |
Agreed, expect it to appear tomorrow at the latest. |
I'm with DEGIRO Normally it takes 48 hours |
Same again Davys - no dividend yet ! Anyone get theirs ? |
"We remain on track to deliver our committed financial targets, including the commencement of interim distributions this year. "From Q1 ?nterim - so i guess we will hear any interim divi at H1 ! |
SP currently off .04 cent nett. Gross Div is .60 payable 11th June. |
ah....OK...thanks |
It goes ex-dividend today - that's the reason |
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