This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The Governor And Company Of The Bank Of Ireland's CEO Discusses Interim Q2 2012 Results - Earnings Call Transcript

The Governor and Company of the Bank of Ireland (IRE)

Interim Q2 2012 Earnings Call

August 10, 2012 4:00 AM ET

Executives



Richie Boucher – Group Chief Executive

Andrew Keating – CFO

Analysts



Eamonn Hughes – Goodbody

Gérard Moore – Merrion Capital

David Lock – Deutsche Bank

Vincent Hung – Autonomous Research

Presentation



Richie Boucher

Hi. Good morning, everyone. Welcome to our Interim Results Presentation for the Six Months to June 30, 2012. And we’d like to thank you for joining us here in Dublin and for those who are joining us by way of the conference call and webcast. I’d like to do a short presentation, following which then our CFO, Andrew Keating, will do more a detailed run-through of the numbers, and then we’ll move to a Q&A session.

So, the operating environment in the first half of 2012 has been characterized by considerable uncertainties in the Eurozone and very low official interest rates. While there the Irish economy has return to growth driven by the export sector, demand in the domestic economy has been sluggish. The external environment and interest rate environment remains challenging. However, Ireland is achieving considerable progress in the adjustments in the industry to realign the Irish economy with sustainable economic recovery. Ireland continues to meet its commitments on the EU/IMF Programme of Support. And in July, we turned to international bond market. The regulatory environment is also subject to a broad range of changes from both domestic and international regulators.

Against this backdrop, we continue to make progress in strengthening the group’s balance sheet with robust core Tier 1 capital ratios and improving liquidity ratios. We exceeded our asset disposal target of €10 billion ahead of schedule and well within the discounts assumed as part of the 2011 pre-call. In addition, redemptions and repayments remain in line with the expectations. As a result, our loan-to-deposit ratio has further improved to 136%.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs