The growth was driven by lower regulatory fees, levies, and a significantly lower impairment charge than anticipated.


The bank also raised its net interest income forecast for 2024 to €3.55 billion, aligning with the upper end of its previously updated guidance from May. It expects to generate more capital than previously indicated.


Bank of Ireland, which operates in a highly concentrated market dominated by retail-focused lenders, derives a larger portion of its profit from interest revenue compared to its European counterparts. The bank now anticipates its return on tangible equity for the year to exceed the 2023 level of 17.3%, up from its earlier guidance of over 15%.


Additionally, the bank has introduced an interim dividend for the first time since the Irish banking crisis of 2008, planning to return €352 million to shareholders, equivalent to 40% of its first-half profit after tax.