Income Statement Statistics – Q1 2016

View Income Statement Statistics Q1 2016 with charts and related data tables.

Summary

• In Q1 2016, banking offices resident in Ireland reported total operating income of €2 billion, a decrease of 11 per cent since Q1 2015.
• Banking offices resident in Ireland reported total profits of €874 million during the first quarter of 2016.
• Interest income received from loans and deposits accounted for €1.34 billion, or 65 per cent, of total operating income.
• Since Q1 2015, account fees and charges have increased by 9 per cent to €142 million.

Income Statement

Total interest income from loans and deposits totalled €1.34 billion during Q1 2016, a decrease of 4 per cent since Q1 2015. Domestic market¹ banks accounted for €1.1 billion of total interest income from loans and deposits (Chart 1). Since Q4 2012, interest payable on loans and deposits, which includes interest related to inter-bank lending, has decreased by 79 per cent to €299 million in Q1 2016. Both domestic market banks and IFSC banks experienced large declines with the former falling by 87 per cent and the latter falling by 49 per cent (Chart 2). The fall in interest income and expenses reflects lower market rates and deleveraging in the sector.

General expenses and other operating costs totalled €1.2 billion in Q1 2016. Wages and salaries, which are the primary driver of general expenses, accounted for €571 million during Q1. Domestic market banks accounted for €428 million of total wages and salaries (Chart 3).

In Q1 2016, banking offices resident in Ireland reported total profit² after interest and tax of €874 million.

Further information

Data Tables

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¹ Domestic market banks are banks that have a significant level of retail business with Irish households and NFCs, and would exclude the more internationally focused banks in the IFSC. A full list of these institutions is available on the Central Bank of Ireland website. Credit Unions are excluded from this set of statistics.
² Profit reported is based on statistical methodology and may differ from profit calculated using accounting methodology.