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KBRA Comments on 1H 2018 Results of the Irish Banks

August 31, 2018

DUBLIN & NEW YORK--(BUSINESS WIRE)--Aug 31, 2018--Kroll Bond Rating Agency (KBRA) comments on 1H 2018 earnings results of the Irish banks. The banks, Allied Irish Banks plc , Bank of Ireland, Ulster Bank Ireland DAC, Permanent TSB and KBC Bank Ireland plc , delivered a sound performance in 1H18, with core earnings stability, improving asset quality, strengthened capital position and increased core deposit funding. KBRA expects negative gross loan growth in 2018 and most likely in 2019, as the banks are under increased regulatory pressure to reduce their stocks of NPLs.

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About KBRA and KBRA Europe

KBRA is a full service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus, is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider, and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180831005036/en/

CONTACT: Kroll Bond Rating Agency

Analytical Contacts:

Joanna Drobnik, CFA, Director

+353 1 669 2680

jdrobnik@kbra.com

or

Joe Scott, Managing Director

+1 (646) 731-2438

jscott@kbra.com

KEYWORD: UNITED STATES EUROPE NORTH AMERICA NEW YORK IRELAND

INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE

SOURCE: Kroll Bond Rating Agency

Copyright Business Wire 2018.

PUB: 08/31/2018 03:00 AM/DISC: 08/31/2018 03:00 AM

http://www.businesswire.com/news/home/20180831005036/en

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