Bank of Ireland has reported a 33% jump in pre-tax profits for the six months to the end of June and said it was upgrading its guidance for the full year.
Bank of Ireland said its half year pre-tax profits rose to €960m, and it also announced an interim dividend of 39 cent per share, an increase of 56%.
Lending during the six month period rose by 4% to €84 billion.
Bank of Ireland noted an “excellent” performance in its Irish lending which rose by €2.2 billion – up 7% – but it saw a fall of €0.5 billion in its UK lending where it said it prioritised value over volume.
Its Irish mortgage business grew its net lending by 6%, while its Irish Corporate and SME business grew its net lending by 14%.
Bank of Ireland said its deposits rose by €1 billion to €108.5 billion, led by a 3% year on year increase in Irish Everyday Banking balances.
Its Wealth Assets Under Management rose by 18% on an annualised basis, it added.
Myles O’Grady, Bank of Ireland Group’s CEO, said the bank had an “excellent” performance in the first half of 2026, increasing profit before tax by 33% to €960m.
“A key feature of this result is momentum,” he said “We’ve hit the ground running on our new three-year strategy, more customers are choosing to bank with us, we’re driving growth in lending, deposits, wealth assets under management”.
“And of course, all of that supports balance sheet growth, investing in our business model and of course, rewarding shareholders. I’m very pleased with our performance,” he added.
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Mr O’Grady said the bank was ahead of target in meeting its 2028 goals, as set out earlier this year.
He said that while there was a risk to Ireland from geopolitical tensions, particularly in the Middle East, so far the indications were that the economy would continue to grow.
“No, there are certainly inflationary pressures on businesses, but these have been managed well and we’re working with our customers,” he said “But… sentiment is positive and stable.”
He defended the fact that the bank had not yet passed on the European Central Bank’s June rate rise to savings customers saying the bank sought a “balanced approach” to how it applies interest rates to borrowers and depositors.
“We’ve got some very attractive deposit rates in the marketplace. We also have a wealth business that offers our customers an opportunity to protect their future,” he said. “I feel we’re getting that balance right.”
Bank of Ireland’s latest gender pay gap report showed that its median pay gap stood at more than 20% in 2025, above the industry average and higher than where its own pay gap stood in previous years.
Mr O’Grady said the bank was “striving” to improve its gender balance ratio and this was an “objective and an absolute priority”.
Its latest report also shows that the majority of BoI’s staff – 57% last year were female- with women making up the majority of staff at almost all levels of its operations.
However that gender ratio flips at the highest level of the company – with men representing 60% of its senior management team.
“Over the last two years we have attracted a very senior and capable talent into the organisation, both male and female,” he said.
“And we’ll always strive to do that. Certainly an objective is to ensure that our gender balance is appropriate and we’re very much focused on that,” the CEO added.
Bank of Ireland shares moved higher in Dublin trade today.
