Bank Of Ireland Brexit Analysis

Introduction
The bank I have chosen to analyse is Bank of Ireland. I chose bank of Ireland because it is well known Irish bank that I am very familiar with. I felt the information and data I needed to obtain for my analysis would be of the highest quality if I chose Bank of Ireland. According to the 2016 Annual report, Bank of Ireland economic activity and development in key markets in the UK and Ireland has remained stable throughout 2016, despite the UKs decision to leave the EU. Brexit, would have caused much controversy and uncertainty among banks in the UK and Ireland. However, Ireland are in line be one of the fastest growing economies in the European Union at the end of 2016, this would be for a third year running. In conjunction with
This particular branch was located at Mary’s Abbey, Dublin. The next location they would open to the public would be College Green in 1808. Bank of Ireland purchased the premises in College Green for £40,000 in 1803. By 1827, there are seven branches located in different counties around the country, including Cork and Waterford. In 1864 Bank of Ireland pays interest on deposits for the first time. By 1922 Bank of Ireland is officially appointed official banker to the Irish government. In 1965 the bank took over the Irish interests of the National Irish Bank Ltd, changing its name back to the National Bank of Ireland Ltd. In 1966 Investment Bank of Ireland and Bank of Ireland Asset Management are founded. 1969, National Bank of Ireland, Hibernian Bank and Bank of Ireland merge to form Bank of Ireland Group. In 1980 the first ATM Launch is passed. The following year in 1981 the group issues access cards for the first time. Jumping ahead to 1997, Banking 365 is introduced, the first of their online banking services provided for customers, in terms of innovation this was a big step. In 2003-04, the group announces a financial services joint with the UK post office, acquires foreign currency exchange corp in the USA and announces a pilot joint venture with the Canadian Post Office. From early 2000 on, Bank of Ireland began to expand quickly, involving themselves in more and more joint ventures and
In October 2008, finance minister Brian Lenihan boasted that it would be ‘the cheapest bail-out in the world’, it prompts similar moves across Europe to prevent capital flooding to Ireland. Bank of Ireland is currently in the recovery phase as it was hit quite hard by the global financial crisis. Bank of Ireland suffered badly due to the financial crisis. According to an article ‘The Bank of Ireland – Emerging from the ashes of the crisis’, the bank had no choice but to sell off a large proportion of its assets and for the remainder of the balance sheet they earned a lower return than expected. The banks performance is improving slowly since 2008, but the recovery phase is slow and tedious. Prior to the crisis, Bank of Irelands NYSE share price was at an all-time high of $979 (2007), since then it has decreased substantially. Post financial crisis, Bank of Ireland required a €4.8 billion government investment just to keep them above water. BOI were the only bank to avoid state control during the crisis. Since 2009 Bank of Ireland has undergone serious deleveraging and total assets have fallen roughly 26%. Since the financial crisis, return on assets (operating income not including interest expense, divided by ending total