Banking

Analysis: Bank of Ireland results ‘one to forget’ despite record profits

The top-tier bank had solid results but they were weaker than anticipated causing investors to sell the stock

Myles O’Grady, chief executive of Bank of Ireland, said there were ‘a lot of factors at play’ after Monday’s share price fall. Picture: Fergal Phillips

Last week things were looking rosy for Bank of Ireland ahead of its 2023 results with analysts raving about the ongoing opportunity at the bank, but Monday’s results turned out to be one to forget as missed expectations sent the share price plummeting.

On the surface of it, shareholders should’ve been pleased.

The bank announced it would triple cash returns with €634 million paid through an ordinary dividend and a further €520 million through a ...