BoI losses to top €1.1bn after loan charges

BANK of Ireland, which got stress test clearance from the EU recently, is expected to post a profit before bad debts of €465m tomorrow.

The good news ends there and after estimated impairment charges of €1.6bn the loss before tax for the year is expected to work out at €1.1bn.

That is substantially less than the €2bn loss reported last week by AIB.