BoI UK activity ‘may give shelter’

Bank of Ireland’s UK lending activities and mortgage business could help shelter it from the adverse effects of any potential worsening in the domestic market, according to a leading stockbroking firm.

Through its exclusive partnership with the UK Post Office, Bank of Ireland (BoI) has a significant portion of its lending business across the Irish Sea, accounting for almost 45% of its customer loans.

This, according to Davy Stockbrokers, could counter-balance the downside risk of weaker Irish lending growth — the medium-term target for which is set at €90bn.