REG - Bank of Ireland Grp - Further update on UK Motor Finance

Bank of IrelandAnnouncement

31/03/2026 07:00

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RNS Number : 8158Y  Bank of Ireland Group PLC  31 March 2026

Bank of Ireland Group plc (the "Group")

Further update on UK Motor Finance

 

31 March 2026

 

The Group notes the publication yesterday evening of the final details of the
Financial Conduct Authority's ("FCA") industry-wide redress scheme relating to
UK motor finance commissions.

 

The Group is assessing the potential financial impact of the final scheme and
is committed to achieving a fair outcome for customers, ensuring appropriate
redress is provided where loss has occurred.

 

The Group's cumulative provision in relation to UK motor finance commissions
is €429m (December 2025), and the Group continues to be highly capital
generative. A further update will be provided to the market at the appropriate
time.

 

Ends

 

For further information please contact: Bank of Ireland

 Mark Spain, Group Chief Financial Officer         +353 1 2508900 ext 43291
 Eamonn Hughes, Investor Relations Officer         +353 (0)87 2026325
 Damien Garvey, Director, Group Corporate Affairs  +353 (0)86 8314435

Forward Looking Statement

This announcement contains forward-looking statements with respect to certain
of Bank of Ireland Group plc (the 'Company' or 'BoIG plc') and its
subsidiaries' (collectively the 'Group' or 'BoIG plc Group') plans and its
current goals and expectations relating to its future financial condition and
performance, the markets in which it operates and its future capital
requirements. These forward-looking statements often can be identified by the
fact that they do not relate only to historical or current facts.

Generally, but not always, words such as 'may', 'could', 'should', 'will',
'expect', 'intend', 'estimate', 'anticipate', 'assume', 'believe', 'plan',
'seek', 'continue', 'target', 'goal', 'would', or their negative variations or
similar expressions identify forward-looking statements, but their absence
does not mean that a statement is not forward-looking.

Examples of forward-looking statements include, among others: statements
regarding the Group's near term and longer term future capital requirements
and ratios, loan to deposit ratios, expected impairment charges, the level of
the Group's assets, the Group's financial position, future income, business
strategy, projected costs, margins, future payment of dividends, future share
buybacks, the implementation of changes in respect of certain of the Group's
pension schemes, estimates of capital expenditures, discussions with Irish,
United Kingdom, European and other regulators, plans and objectives for future
operations, the potential impact from uncertainty around international trade
and tariff policies, and the continued impact of regional conflicts on the
above issues and generally on the global and domestic economies.

Such forward-looking statements are inherently subject to risks and
uncertainties, and hence actual results may differ materially from those
expressed or implied by such forward-looking statements.

Such risks and uncertainties include, but are not limited to, those as set out
in the Risk Management Report in the Group's Annual Report for the year ended
31 December 2025.

Nothing in this announcement should be considered to be a forecast of future
profitability, dividend forecast or financial position of the Group and none
of the information in this announcement is or is intended to be a profit
forecast, dividend forecast or profit estimate. Any forward-looking statement
speaks only at the date it is made. The Group does not undertake to release
publicly any revision to these forward-looking statements to reflect events,
circumstances or unanticipated events occurring after the date hereof.

 

 

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