Bank of Ireland’s departing chief executive Francesca McDonagh has been named as Credit Suisse’s new head of European operations.
Ms McDonagh, a London-born Oxford University graduate who is of Irish descent, was Bank of Ireland’s first woman chief executive when she was appointed in October 2017 to succeed Richie Boucher. She previously worked in a variety of senior roles for HSBC. In an interim management statement, the bank said net interest income was in line with expectations, as was business income in the first quarter of the year. Wealth and insurance income at the bank was up by around 10 per cent.and corporate and markets in the first three months of the year.
There was a significant increase in green lending in the quarter, with “green” loans accounting for 43 per cent of new mortgage lending during the quarter and 11 per cent of total business term new lending. The bank’s net credit impairment charge in the first quarter was in line with expectations, with non-performing exposures falling by €200 million since December 2021 to €4.1 billion.Bank of Ireland’s €50 million share buyback programme that began earlier in April has seen the bank €17 million in shares as of April 26th.
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