Bank of Ireland raises net interest income forecast for 2022

As the European Central Bank continues to raise interest rates to control surging inflation, the Bank of Ireland increased its net interest income growth forecast for 2022 on Friday for the second time in less than six weeks.

The bank, which has the most assets in the nation, stated that its projected net interest income for the year will now increase by roughly 10% compared to 2021.

This compares with its prior guidance, which called for an increase of between 6 and 7 percent.

Bank of Ireland said in a brief statement that this guidance takes into account net interest income from participation in Targeted Longer-Term Refinancing Operations (TLTRO) of about €30m in 2022 as opposed to about €62m in 2021.

Bank of Ireland will publish its annual results for 2022 on March 7.

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