Company Watch

Company Watch: McDonagh strikes a defiant note as she departs the stage

Bank of Ireland’s outgoing chief executive was last week keen to stress the independence of the bank’s decision-making in the current turbulent climate, but it is trailing rival AIB when it comes to acquiring accounts of migrating customers

Francesca McDonagh was addressing the press following the publication of interim results for the first half of 2022 which showed a 10 per cent fall in pre-tax profits compared to the same period a year ago. Picture: Fergal Philips

The first set of results that Francesca McDonagh presented after she took the reins at Bank of Ireland were those covering the calendar year 2017. In her message to shareholders that year, having been in the job just a matter of months, McDonagh sounded an optimistic note about the bank, the wider economy and its emergence from years of turmoil.

“I am honoured to be leading Bank of Ireland, and convinced that we will deliver ...