Company Watch: Relief at last for McDonagh as BoI turns around its fortunes

An interim management statement showed BoI’s business in a healthier state than anticipated, with net interest income unexpectedly on a par with the same period last year.

2nd May, 2021
Company Watch: Relief at last for McDonagh as BoI turns around its fortunes
Francesca McDonagh, chief executive of Bank of Ireland. Picture: Naoise Culhane

It’s not so long ago that Bank of Ireland faced a myriad of challenges with Covid-19 affecting its business, rivals snapping up revenue-generating opportunities and political hand-wringing over its branch closures.

But over the past month or so, the outlook for Francesca McDonagh, the bank’s chief executive, has significantly improved – as underlined by the lender’s first quarter market update published last Friday.

The interim management statement showed BoI’s...

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