The Bank of Ireland has increased its income growth expectations again as the European Central Bank continues to hike interest rates amid soaring inflation.
The Irish bank, which is headquartered in Dublin but employs some 900 staff in Bristol as well in Belfast and London in the UK, said it expected net interest income to rise by 10% - up from previous guidance of 6%-7%. It is the second time in six weeks the bank has updated its guidance.
In a statement to the London Stock Exchange on Friday (December 16), the Bank of Ireland said its guidance incorporated net interest income from targeted longer-term refinancing operations (TLTRO) participation in the 2022 financial year of about €30m (£26.2m) compared to about €62m in 2021.
