Irish Bank of England’s net loans rose by 2.2 billion euros in the first quarter to 20.6 billion euros (17.56 billion pounds), from 20.4 billion euros (17.39 billion pounds) to the end of December 2024.
Myles O’Grady, CEO of the Bank’s latest Irish Group, said: “We started out very well for the year, with performance and profitability meeting our expectations. The positive domestic economic situation supported solid client activity, with the core loan book growing in the quarter, especially with our Irish mortgage book at 3.5%.
He added: “In the context of global trade negotiations and potential impact, the group updated its Irish economic forecasts with GDP and GDP and employment growth of 3.5% and 1.8% in 2025, respectively.
In conjunction with the implementation of the group’s strategy, this supports positive prospects while maintaining vigilance about potential risks associated with trade dislocation. From the position of strength and trusted partners, we continue to get close to our customers as they browse their current environment. ”
In its full-year report in February, the UK’s mortgage books released by the Bank of Ireland UK jumped 19% to 16 billion euros from £13.3 billion in 2024.
The lender approved around 20,000 UK mortgages in the UK, adding that it launched an automated product conversion journey in November, meaning most customer products are now available digitally.
During this period, new UK mortgages rose from £1.7 billion to £2.4 billion.
Bank of Ireland is divided into four divisions retail Ireland, wealth and insurance, retail UK, and corporate and commercial.
The UK retail industry includes its UK residential mortgage business, a network of commercial banks and branches in Northern Ireland, vehicle rentals and a Forex partnership with the UK Post Office.
