Jul 31, 2024 / 07:00AM GMT
Myles O'Grady - Bank of Ireland Group PLC - Chief Executive Officer, Executive Director
Good morning and thank you for joining us. Today, we are reporting a half year performance. The theme is strategic delivery and sustainable returns. We are midway through our three-year strategic cycle and making excellent progress, as demonstrated by continued growth in Irish loans, in new customers, and assets under management. Our performance is also well supported by the interest rate environment. This translates into profitability of EUR1.1 billion, that's up 5% year on year and notably a return on tangible equity of 18.9%.
This performance supports upgraded earnings guidance for the year. Our business model continues to be highly capital generative, 170 basis points in H1. And today we are announcing an interim dividend of EUR352 million. This is an important component of our full year objectives, which are progressive dividends and the return of surplus capital.
Slide 6 gives a flavor of economic conditions in Ireland, which account for three-quarters of our profits. The Irish
Half Year 2024 Bank of Ireland Group PLC Earnings Call Transcript
Jul 31, 2024
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