BoI records losses of €1.5bn but says ‘key metrics moving in right direction’

Bank of Ireland’s net interest margin improved over the second half of last year to average 1.34% for the six months, according its interim management statement.

The bank made a pre-tax loss of €1.5bn for the year, although its chairman, Archie Kane, said all key metrics were moving in the right direction.

Speaking at Bank of Ireland’s AGM in Dublin yesterday, Mr Kane, said: “We have continued to make significant progress against our strategic objectives. We have remained focused on enhancing our core franchises and market positions and rebuilding towards profitability and value for our stockholders.”