Half Year 2020 Bank of Ireland Group PLC Earnings Call Transcript
Good morning, ladies and gentlemen. We will now listen to Bank of Ireland's Interim Results Announcement for 2020, presented by CEO, Francesca McDonagh; and CFO, Myles O'Grady, followed by Q&A.
Good morning, and you're very welcome to our 2020 interim results presentation. We meet today during what continues to be an exceptional period. The impact of COVID-19 is reflected in our results. Our priority throughout the pandemic has been to support our customers, colleagues and communities and while managing the crisis, stay focused on our longer-term strategic initiatives. These include the transformation of our IT systems, the consistent reduction of our cost base and improvement of returns in our U.K. business.
In the first half of 2020, we delivered stable net interest income and a net interest margin of 2.02%, net lending growth of EUR 0.2 billion, continued cost discipline with a further 3% reduction, increased market share in key products such as Irish
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