Banking
Bank of Ireland shares fall 11% as it misses expectations
The bank said income will ease this year as interest rates are expected to fall
Shares in Bank of Ireland plummeted 10.8 per cent on Monday morning after annual results fell short of analyst and market expectations.
The bank was trading at €8.11 per share despite announcing record profits and saying it will triple shareholder returns.
Profits after tax of €1.6 billion in the year, were a record level, but below broker Davy’s expectation of €1.8 billion, due to lower net interest income and a higher than expected impairment charge.
