Bank of Ireland raises 2026 NII target amid strong momentum

Bank of Ireland Group PLC on Wednesday said it is on track to deliver a strong performance in 2026 and meet its 2028 financial targets.

Shares in the Dublin-based lender were up 0.4% at EUR18.92 on Euronext.

In a trading statement, Bank of Ireland said total income grew 6% in the nine months ended September 30 from the year prior, with net interest income growth 4% and total fee income up 6%.

NII was driven by balance sheet growth and structural hedge benefits, while Wealth and Insurance boosted fee income.

Total customer loan balances amounted to EUR86.1 billion at the end of September, up against EUR82.5 billion at the end of 2025.

Total customer deposit balances were EUR110.3 billion at the end of September, higher versus EUR107.5 billion at the end of 2025.

Assets under management are 16% higher year-to-date at EUR67.0 billion compared to the year before, with EUR2.8 billion of net inflows.

Chief Executive Myles O'Grady said: "Three quarters into the first year of our new strategic cycle, we are delivering against all priorities and targets with real momentum. This is reflected in continued growth in loans, deposits and wealth assets under management, supporting income growth and strong capital generation, whilst asset quality remains resilient."

As a result, the CEO said the bank is upgrading 2026 NII guidance for the second time this year, to greater than EUR3.5 billion from around EUR3.5 billion before.

All other guidance was reaffirmed, including delivering 2028 financial targets of growing return on tangible equity to more than 16%.

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