Business
DUBLIN (AP) — Bank of Ireland — the only major Irish lender to avoid state control — has reported a higher loss in the first half of the year and higher impairments.
The bank said Friday that in the six months to June 30 its pretax loss rose to 1.26 billion ($1.55 billion) from 556 million a year earlier.
Impairment charges on loans and advances to customers were 941 million compared with 842 million a year earlier. Operating income was 900 million, down from 1 billion.
"The numbers of customers moving into arrears categories has continued to increase, partially reflecting a considerable number of our buy-to-let customers moving from interest only to full amortization," said Richie Boucher the bank's group chief executive.
Bank of Ireland shares were unchanged at 4.00 at midday.
