Irish banks ‘hit harder’ by Covid than others in Europe

Study analysing financial performance of 123 banks across Europe found Irish banks had negative return on equity significantly below the European average

AIB wrote down the value of its loan book by €1.4 billion due to Covid-19 concerns Picture: Rollingnews

The profitability and return on equity of Irish banks in the last two years was considerably weaker than those of their European counterparts, a new study has found.

A report by BearingPoint, the management and technology consultancy firm, shows that Irish banks were hit harder by the Covid-19 pandemic than other banks across Europe, resulting in negative returns on equity and weaker profitability.

The BearingPoint study, which analysed the financial performance of 123 European banks ...