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“Announcing interim results today (2 August 2023) we are very pleased to have successfully completed our transformational acquisition of approximately €6.75bn of the Ulster Bank Retail, SME, and Asset Finance business in the Republic of Ireland. The final migration of the c. €0.5bn asset finance business took place in mid-July and I want to once again warmly welcome the approximately 88,000 new mortgage and business customers and over 330 new colleagues who have joined us from Ulster Bank over the course of this acquisition.

The Bank has made enormous progress over the past two years – with greater scale and diversification, an enhanced digital offering, a larger branch network, a bigger team of highly skilled and committed colleagues, and many more customers than before.

Our first half performance shows real momentum in our business as we return to sustainable profitability, evidenced by our underlying profit before tax of €86 million. We continued to support our customers with new lending of €1.4bn; an increase of 36% year-on-year (‘YoY’).

Despite a challenging economic backdrop, we look forward to the remainder of the year with confidence. We are committed to supporting our customers in the face of cost of living pressures. We are and we will deliver on our ambition to provide real competition in the Irish retail and SME banking market.”

Eamonn Crowley, Chief Executive

Investor Presentations

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2022 Annual Results VIEW PDF
2022 Interim Results PDF

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