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Bank of Ireland adequately capitalised ahead of stress tests -CEO
March 3, 2014 / 7:16 AM / in 4 years

Bank of Ireland adequately capitalised ahead of stress tests -CEO

DUBLIN, March 3 (Reuters) - Bank of Ireland is confident it will not need to raise any further capital after European-wide stress tests later this year, Chief Executive Richie Boucher said on Monday.

“We don’t think it’s probable. You can never say never about these things, but based on our knowledge of our own business, the stress tests we run ourselves, we think we are adequately capitalised,” he said.

Bank of Ireland said it had returned to profitability in the first two months of the year. It cut its full-year loss by almost two thirds in 2013 after a decline in the number of homeowners in arrears while margins improved further.

Boucher added that he expected quite a significant improvement in impairment charges this year and that the pace of net job reduction at the bank would also slow significantly in the year ahead.

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