Bank of Ireland profits dip amid economic uncertainty

Bulk of the decrease was driven by a €46 million impairment charge taken by the bank

Francesca McDonagh, the outgoing chief executive at Bank of Ireland, said the bank had delivered a strong performance for the period while also progressing its internal strategy goals. Picture: Maura Hickey.

Bank of Ireland’s pre-tax profits slipped by almost 10 per cent in the first six months of the year compared to 12 months earlier as the lender set aside almost €50 million to deal with potential loan problems stemming from a souring economic outlook.

The bank this morning reported an underlying profit of €419 million compared with an equivalent figure of €465 million a year earlier, a decrease of €46 million.

A 1 per cent ...