Commenting on the bank’s latest interim statement Bank of Ireland Group CEO Myles O’Grady, said: “We had a very good start to the year, with performance and profitability in line with our expectations. Positive domestic economic conditions supported robust customer activity, with the core loan book growing in the quarter, notably our Irish mortgage book by 3.5% annualised.

He added: “Against a backdrop of global trade negotiations and potential impacts, the group has updated its Irish economic forecasts, with GDP and employment growth of 3.5% and 1.8% respectively for 2025.

Combined with the execution of the group’s strategy, this supports a positive outlook while remaining vigilant to potential risks associated with trade dislocation. From a position of strength and as a trusted partner, we continue to engage closely with our customers as they navigate the current environment.”

In its full year report back in February, Bank of Ireland UK posted that its British mortgage loan book had jumped 19% to €16bn from £13.3bn in 2024.

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 were now delivered digitally.

New UK mortgage lending over that period lifted to £2.4bn from £1.7bn.

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 UK residential mortgage business, the Northern Ireland business banking and branch network, vehicle leasing and a foreign exchange partnership with the UK Post Office.