Bank of Ireland’s major operations in Britain have so far weathered the fallout of Brexit but the deficit in the lender’s defined benefit pension scheme continues to drag on its capital.

Richie Boucher yesterday announced plans to step down from the top job at Bank of Ireland which he has held since the height of the banking crisis, indicating the lender was all but restored to full financial health. A search for his replacement has already begun.

Bank of Ireland's chief executive, Richie Boucher, is stepping down from the role that pays €961,000 a year.

Here's your evening update.

A decision to delay paying its first dividend since the financial crisis was mainly due to accounting issues surrounding the bank’s pension scheme, and not to do with underlying issues such as Brexit, Bank of Ireland has said.

Here’s a briefing on some of the stories and issues highlighted on irishexaminer.com today.

Bank of Ireland chief Richie Boucher says the bank’s policy of promoting fixed-rate mortgages ahead of cutting variable rate home loans will not change for the moment, regardless of competitors’ decisions and political pressure.

Bank of Ireland has raised a question mark over the timing of paying out its first dividend since the financial crisis, blaming the fallout of the Brexit vote on sterling and lower bond yields for the decision.

Bank of Ireland looks set to resist pressure to cut its most expensive mortgage rates despite growing political pressure and significant moves by its biggest competitor earlier this week.

Bank of Ireland reaffirmed it had set its sights on paying a dividend in 2017 for the first time since the crash, helping its shares claw back some of the large losses of recent weeks.

Bank of Ireland's interim results for 2015 show that the bank recorded an underlying profit of €1.2bn, an increase of 30% over the previous year.

Bank of Ireland yesterday indicated it was sticking to its guns over variable mortgage interest rates as the lender delivered a sparkling set of half-term results that reflected the huge upswing in the economy.

Half-term reports due next week from two of Ireland’s diminished roster of lenders — Bank of Ireland and Permanent TSB — will likely reflect something of the two-speed turnaround for the once battered banking sector.

State-owned Allied Irish Bank has defended relief given to mortgage holders and said its customer base is growing and that it is dropping interest rates.

Bank chiefs are set to be quizzed today on how they propose to offer families with variable rate mortgages a reprieve or otherwise face the threat of Government action.

Senior debt advisers say the last of the senior bank chiefs to appear in front of the Finance Committee puts the contentious issue of home owners paying high standard variable rates firmly back in the Government’s court.

Bank of Ireland officials knew the bank might need taxpayer help as early as June 2008 to weather “a storm” descending on the financial sector.

The banking inquiry did not get answers on why two of Ireland’s biggest banks gave open support and millions of euro within days for one of the best-known failed boom-time developments after witnesses said they were restricted from talking about the deal.

Solicitor Brian O’Donnell has said Bank of Ireland “set fire” to his business and “bullied” his family over the Gorse Hill property.

The family of Brian Lenihan say his name has been “sullied” by comments made by former European Central Bank president Jean Claude Trichet about events leading up the infamous bank guarantee.

These bank AGMs have turned out some right fun in recent years. It’s an opportunity for the little people to have a go at the shower of bankers who dragged the economy over the abyss, yet managed to save themselves.

Bank of Ireland has signalled that it will continue to seek shortfall costs from people even after they have lost their home.

Shares in Bank of Ireland plummeted almost 9% yesterday on the back of Canadian insurer Fairfax Financial Holdings selling half of its 5.8% stake.

Catch-up with all the news that happened while you were sleeping:

Bank of Ireland CEO Richie Boucher says he will ease back from his crisis-time style of leadership to give potential successors more control as the lender’s loan book returns to growth.

Bank of Ireland CEO Richie Boucher said he “deeply regrets” the role the bank played in the financial crisis and that it needed support from the taxpayer.

The head of the Banking Inquiry Ciaran Lynch says he does not anticipate any resistance to compellability orders sent to more than a dozen senior witnesses.

Bank of Ireland has revealed a remarkable turnaround in fortunes with a profit of €921m for last year – an improvement of €1.5bn on 2013.

More than a dozen of Ireland’s most senior bankers during the boom and bust era — including one of the pioneers of 100% mortgages in this country — have been legally ordered to attend banking inquiry grillings from April.

Rock ‘n’ roll arrived at the Oireachtas banking inquiry yesterday. It came in the form of David McWilliams: He Who Foretold The Crash.

A string of large bets has seen Bernard Byrne installed as the firm favourite to succeed David Duffy as chief executive of AIB.

Permanent TSB has announced a series of interest rate cuts of between 0.35% and 0.42% to its mortgage products for new customers as it attempts to gain a bigger slice of the market.

It is understood that Ulster Bank supports keeping the 90% loan-to-value rule for mortgages with a value of €500,000 or less, as this will include the bulk of first-time buyers.

In the past, the relationship between interest rate movements and property bubbles was pretty straightforward: Central banks lowered rates to stoke economic activity.

Central Bank governor Patrick Honohan has signalled that there could be an easing of the rules that will require mortgage applicants to stump up a 20% deposit.

Welcome to your Thursday morning briefing. Let us ensure you’re up to speed on what’s happening and are prepared for the day ahead.

There are currently no plans to reduce Bank of Ireland’s standard variable mortgage rate following AIB’s 0.25% cut, although the situation is under review, according to chief executive Richie Boucher.