REG - Bank of Ireland Grp - Update on UK Motor Finance

Bank of IrelandAnnouncement

09/10/2025 14:15

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RNS Number : 7921C  Bank of Ireland Group PLC  09 October 2025

Bank of Ireland Group plc (the "Group")

Update on UK Motor Finance

 

9 October 2025

 

The Group notes the recent consultation paper from the Financial Conduct
Authority (FCA) in respect of a motor finance compensation scheme. We are
continuing to assess the full details of the proposed scheme and will engage
in the consultation process over the coming weeks. At 30 June 2025, the Group
had a provision of £143m (€167m) in respect of this matter.

 

Pending finalisation of the consultation process which could result in a
refinement of the proposed scheme, based on our preliminary analysis and the
characteristics of the proposed scheme, an increase in the provision is likely
to be required which may be material. This remains subject to ongoing analysis
and review of the proposals.

 

The Group has a strong capital position (pro-forma CET1 of 16.0% at 30 June
2025) and continues to be a highly capital generative business.

 

Ends

 

For further information please contact:

 

Bank of Ireland

 

 Mark Spain, Group Chief Financial                                                                                                           +353 1 2508900 ext 43291
 Officer
 Owen Callan, Group Investor Relations                                                                                                       +353 (0)86 0471678
 Philip O'Sullivan, Group Investor Relations                                                                                                 +353 (0)86 3587674
 Damien Garvey, Head of Group External Communications and Public Affairs                                                                     +353 (0)86 8314435

 

 

Forward Looking Statement

This document 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, 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 'Principal Risks and Uncertainties' section on page 26 of the Group's
2025 Interim Report and in the Risk Management Report in the Group's Annual
Report for the year ended 31 December 2024.

 

Nothing in this document 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 document is or is intended to be a profit forecast,
dividend forecast, or profit estimate. Any forward-looking statement speaks
only as 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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