Full Year 2021 Bank of Ireland Group PLC Earnings Call Transcript
Good morning, ladies and gentlemen. We will now listen to the Bank of Ireland's Annual Results Announcement for 2021, presented by CEO, Francesca McDonagh; and CFO, Myles O'Grady, followed by a Q&A.
Good morning, everyone. Today, we are announcing a strong rebound in our financial performance for 2021, continued momentum in the execution of our strategy, and confidence in our growth outlook for 2022 and beyond.
As summarized on Slide 5, in 2021, we delivered our best performance since the financial crisis. We're reporting underlying profit before tax of EUR 1.4 billion. Operating profit pre-impairment showed a strong growth, up 53% year-on-year and up 25% versus 2019 pre-the-pandemic. And our 2021 RoTE is 12.7%.
While this is helped by an impairment gain, it also reflects strong business performance and the successful execution of our strategy over the past number of years. This shows that we are on track to deliver a sustainable RoTE of in excess of
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