Banking

Bank of Ireland ups net interest income guidance due to more favourable rate outlook

The bank issued its quarter one interim results today, which were in line with expectations

Myles O’Grady: Chief executive said the bank had a strong first quarter, underpinned by loan book growth and higher income. Picture: Naoise Culhane

Bank of Ireland (BOI) said that they would update their 2024 net interest income guidance in light of updated interest rate expectations, with all other guidance for the year remaining unchanged.

The bank said that market expectations for interest rates in 2024 now supported improved net interest income guidance - expected to be 3 per cent to 4 per cent lower than the last three months of 2023 annualised run rate of €3.65 billion, compared ...