Dáil Éireann Debate, Thursday - 30 June 2016
83. Deputy Michael McGrath asked the Minister for Finance the implications for Bank of Ireland’s activities in the United Kingdom, if that country is outside the European Economic Area; the proportion of Bank of Ireland's revenues which arise in the United Kingdom; and if he will make a statement on the matter. [19007/16]
View answerI can confirm for the Deputy that I have received the following response from Bank of Ireland:
"Bank of Ireland UK is an important part of the Group s business. Bank of Ireland's UK plc business model is resilient. The Bank is licenced and regulated in the UK by the Bank of England through the FCA and the PRA, and is strongly capitalised and well-funded in Sterling. Further information is available in the Bank of Ireland Annual Report 2015, the most recent full year results for the Group, including from Pg 48 to Pg 50 of that report."
For the benefit of the Deputy, I would also highlight Page 205 of the bank s annual report which sets out data relating to the individual operating segments of the bank for year ended 2015.
As per this data, total operating income for Retail UK was €715m which equated to 22% of total group operating income. I should also point out however, that additional operating income relating to other group activities in the UK was also included under the Corporate and Treasury segment but this was not separately disclosed.
The Bank of Ireland Annual Report can be found at the following link: https://investorrelations.bankofireland.com//wp-content/assets/BOI-Annual-Report-2015.pdf
