Bank of Ireland(Governor&Co) 2016 Supervisory Review and Evaluation Process (6594Q)
December 01 2016 - 2:01AM
UK Regulatory
TIDMBKIR
RNS Number : 6594Q
Bank of Ireland(Governor&Co)
01 December 2016
The Governor and Company of the Bank of Ireland (the
"Group")
2016 Supervisory Review and Evaluation Process
1 December 2016
The Group has been notified by the European Central Bank of the
outcome of the 2016 Supervisory Review and Evaluation Process
(SREP).
The decision requires that the Group maintains a Common Equity
Tier 1 ("CET 1") ratio of 8.0% on a transitional basis from 1
January 2017; this includes the Pillar 2 requirement (P2R) but
excludes the Pillar 2 guidance (P2G). This requirement of 8%
includes a Pillar 1 requirement of 4.5%, a Pillar 2 requirement of
2.25% and a capital conservation buffer for 2017 of 1.25%.
This requirement compares to the Group's latest reported
transitional CET 1 ratio of 13.0% at the end of September 2016.
Under the Maximum Distributable Amount ("MDA") framework, the
MDA trigger level will be 8.0% from 1 January 2017.
Ends
For further information please contact:
Bank of Ireland
Andrew Keating Group Chief Financial Officer +353 (0)766 23
5141
Alan Hartley Director of Group Investor Relations +353 (0)766 23
4850
Pat Farrell Head of Communications +353 (0)766 23 4770
Forward-Looking Statement
This document contains certain forward-looking statements with
respect to certain of the Bank of Ireland Group's (the "Group")
plans and its current goals and expectations relating to its future
financial condition and performance, the markets in which it
operates, and its future capital requirements. These
forward-looking statements often can be identified by the fact that
they do not relate only to historical or current facts. Generally,
but not always, words such as 'may,' 'could,' 'should,' 'will,'
'expect,' 'intend,' 'estimate,' 'anticipate,' 'assume,' 'believe,'
'plan,' 'seek,' 'continue,' 'target,' 'goal', 'would,' or their
negative variations or similar expressions identify forward-looking
statements, but their absence does not mean that a statement is not
forward looking. Examples of forward-looking statements include
among others, statements regarding the Group's near term and longer
term future capital requirements and ratios, level of ownership by
the Irish Government, loan to deposit ratios, expected impairment
charges, the level of the Group's assets, the Group's financial
position, future income, business strategy, projected costs,
margins, future payment of dividends, the implementation of changes
in respect of certain of the Group's pension schemes, estimates of
capital expenditures, discussions with Irish, United Kingdom,
European and other regulators and plans and objectives for future
operations.
Nothing in this document should be considered to be a forecast
of future profitability or financial position and none of the
information in this document is or is intended to be a profit
forecast or profit estimate. Any forward-looking statement speaks
only as at the date it is made. The Group does not undertake to
release publicly any revision to these forward-looking statements
to reflect events, circumstances or unanticipated events occurring
after the date hereof.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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