Bank of Ireland reported that its UK new home loan underwriting fell 8.3 per cent to £1.1 billion as the group suffered in the first six months of the first six months of a year.
Bank of England’s interest rate setters made two-two layoffs in 2025, bringing the base rate to 4.25%. The market expects two more drops this year.
During this time, the Bank of Ireland launched a client survey for online product conversion and interest-only purchase loans and distributed digital mortgages through its lawyers portal.
According to the stock market statement, the UK mortgage portfolio for the period was 15.5 billion euros.
Bank of Ireland is divided into four sectors: Retail Ireland, Wealth and Insurance, Retail UK, and Corporate and Business.
UK retail includes its UK residential mortgage business, savings, asset financing, contract leasing and forex partnerships with the UK Post Office.
The group said the retail industry’s basic contribution in the first half of the year was £112 million, down 33% from the same period last year.
Overall, the group’s pre-tax profit fell 33% to 721 million euros due to the ECB rate drop and impairment fees of 137 million euros.
Myles O’Grady, CEO of Bank of Ireland Group, said: “The group continues to invest in its business model to support near- and long-term lasting efficiency.
“This activity is based on a fundamental component of the sustainability of returns.”
