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Bank of Ireland’s offshore office enjoys the firmest foundations, operating from the highly rated and well regulated Isle of Man.
The Isle of Man is a Standard and Poor’s AAA rated jurisdiction and has won the prestigious accolade of Best International Finance
Centre at the annual International Investment Awards no fewer than eight times in nine years. The Island’s stability has provided a
perfect backdrop for the steady growth in our offshore operation since Bank of Ireland (I.O.M.) Limited opened in Douglas in 1981.
We are committed to tailoring bespoke solutions to meet clients’ individual financial needs, backed by friendly and efficient service
that aims to exceed customer expectations every day.
For more in-depth information relating to Bank of Ireland and the Irish Economy, below you will find a number of key documents available
for download:
Summary:
Bank of Ireland has a low risk and conservative business profile
- Traditional retail and commercial bank
- Lower risk lending profile than many competitors with almost 45% of our £135bn lending book accounted for by residential mortgages
in Ireland and UK
- Asset quality of mortgage book remains robust and well above comparable industry average
- Focused on actively and prudently managing credit risk
A fundamentally sound business
- Bank of Ireland has good businesses with resilient business models, strong franchises and well established market positions
- Pre-impairment operating profit shows continued significant earnings capacity
- Deposits have increased in a challenging market
- Existing capital is sufficient to absorb expected loan losses and we are committed to strengthening our capital ratios in line with revising
market norms and expected regulatory developments
Document for Download:
Bank of Ireland Group Overview
Bank of Ireland Interim Results
Summary:
Key themes for Ireland
- The Irish economy appears to be coming out of recession. GDP growth expanded by 0.3% in
Q3 2009 following negative growth in five out of the previous six quarters
- Many economic activity indicators appear to have bottomed and are recovering, while others
are pointing to a slowdown in the pace of contraction
- Irish Government continuing to take credible measures to correct public finances, underpin
the banking sector and support foreign investment
- The Irish Government is committed to supporting the Irish banking system, through State
Guarantee for Liabilities (CIFS), the new Government Guarantee (ELG), the recapitalisation
of Bank of Ireland and AIB and the setting up of the National Asset Management Agency (NAMA)
- NAMA has the objective of stabilising the banking sector and restoring the flow of credit
to business and customers while minimising the risk to the tax payer
- The National Treasury Management Agency (NTMA) raised almost €35bn in 2009 and has already raised
c.33% of the €20bn planned borrowing requirement for 2010
- Investor sentiment towards Irish debt is improving
Documents for Download:
Ireland - Key Themes, November 2009
The Irish Economy - An Overview, November 2009
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