This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Bank Of Ireland's CEO Discusses Q2 2012 (Interim) Results - Earnings Call Transcript

Stocks in this article: IRE

Bank of Ireland (IRE)

Q2 2012 (Interim) Earnings Call

August 10, 2012 4:00 AM ET


Richie Boucher – Group Chief Executive

Andrew Keating – CFO


Eamonn Hughes – Goodbody

Gérard Moore – Merrion Capital

David Lock – Deutsche Bank

Vincent Hung – Autonomous Research


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

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs