Bank of Ireland’s net interest income is expected to come in higher than forecast in the second half of the year thanks to rate hikes, while fee income was also up. In an interim management statement on Thursday, the bank said it expects its bank levy contribution to more than triple as a result of changes in Budget 2024. Bank of Ireland now expects net interest income gains of closer to €1.9bn, or around 5pc higher than its first-half level of €1.802bn. Irish net lending, after acquisitions, was €1.3bn thanks to strong mortgage lending - with green mortgages accounting for 51pc of new mortgages in Ireland. Bank of Ireland provisionally estimates its 2024 Irish bank levy will be €90m, compared to €25m in 2023, following changes in the budget.

Source: Irish Independent October 26, 2023 09:42 UTC