BOI Extension of Post Office partnership agreement

RNS Number : 9990N

Bank of Ireland Group PLC

27 September 2019

 

Bank of Ireland Group plc (the ''Group'')

Extension of Post Office partnership agreement

27 September 2019

Today, the Group announces that it has, through Bank of Ireland (UK) plc, extended its long term financial services partnership with the UK Post Office to a minimum end of 2026. 

The extension of the Group's longstanding partnership with the Post Office has further enhanced alignment of both parties, to drive mutual benefits, and is consistent with the Group's strategy to improve returns in our UK business.

The partnership will continue to focus on providing an exclusive Post Office branded range of leading savings, mortgages and personal loans with c.2.1 million Post Office customers in the UK. The Group and the UK Post Office also have a highly successful 50/50 joint venture, First Rate Exchange Services, which continues to be the largest provider of consumer foreign exchange in the UK with a market share of 24%. 

Ends

For further information please contact:

Bank of Ireland

Andrew Keating, Group Chief Financial Officer                                                                  [phone]

Darach O'Leary, Head of Group Investor Relations                                                           [phone]

Damien Garvey , Head of Group External Communications and Public Affairs            [phone]

Forward Looking Statement

This announcement contains forward-looking statements with respect to certain of Bank of Ireland Group plc ('BOIG plc') and its subsidiaries' (collectively 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 losses, 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. Such forward-looking statements are inherently subject to risks and uncertainties, and hence actual results may differ materially from those expressed or implied by such forward-looking statements.

Nothing in this announcement should be considered to be a forecast of future profitability, dividends or financial position of the Group and none of the information in this announcement is or is intended to be a profit forecast, dividend 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.

 

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