Bank of Ireland plans share buybacks as it reports €1.2bn profit

2022 saw Bank of Ireland return to full private ownership

Shares in Bank of Ireland have risen spectacularly after the exit of rivals KBC Bank and Ulster Bank.

Bank of Ireland has said it will deliver €350m to shareholders in dividends and share buybacks after the lender reported an underlying profit of €1.2bn in 2022, helped by rate increases and the acquisition of the loan books from rival KBC Bank.

Its net interest income rose by 12%, “reflecting higher customer balances, higher interest rates and business momentum”, the lender said.