Bank of Ireland UK posted British mortgage lending up 19% to €16bn (£13.3bn in 2024 compared to the year before.
The lender approved around 20,000 UK mortgages in Britain, adding that it launched an automated product switching journey in November, “meaning the majority of customer product offerings are now delivered digitally,” it said in its annual report.
It also expanded its webchat service on its mortgage intermediaries portal, which since launch has hosted over 27,000 broker conversations.
The Bank of Ireland is organised into four divisions retail Ireland, wealth and insurance, retail UK as well as corporate and commercial.
Retail UK includes its British residential mortgage business, the Northern Ireland business banking and branch network vehicle leasing and a foreign exchange partnership with the UK Post Office.
In October, the UK arm agreed the sale of its unsecured personal loans portfolio, resulting in a gain on sale of the performing book of £33m.
Retail UK posted an underlying profit of €355m up 29% from a year ago.
The UK arm also set aside €172m (£143m) for potential motor finance claims.
Overall, the group €1.9 bn profit before tax unchanged from a year ago.
Bank of Ireland group chief executive Myles O’Grady said: “The group enters 2025 with momentum across all business lines. Notwithstanding potential impacts to global trade, our business model continues to be highly capital generative for the coming year.”
