DAVY VIEW

A FY 2020 loss is well flagged, but Bank of Ireland (BOI) results will demonstrate good ongoing progress on transformation and costs – with capital strength against the significant build in provisions also notable. Firm guidance may be problematic at present, but we expect updates on operating costs and the UK business. Therefore, trends on new lending, general activity levels and asset quality will be important, with a broader update expected later in 2021 to set out the bank’s medium-term strategy.