Bank of Ireland expects AI to contribute to 20% cost savings target by 2028

LootboxPhobia · 2026-03-03T03:44:23+00:00

The CEO of Bank of Ireland expects artificial intelligence to save the company €250 million in costs by 2028, contributing approximately 20%. The bank also anticipates that net interest income will reach €4 billion after 2028 and plans to achieve staff adjustments through natural attrition.

LootboxPhobia

2026-03-03 03:44:23

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Investing.com – The CEO of Irish Bank stated on Monday that artificial intelligence is expected to contribute approximately 20% to the bank’s cost savings goal of €250 million by 2028.

The CEO pointed out that after 2028, AI will play a greater role in creating operational leverage.

The bank’s CFO said that the company expects net interest income to reach €4 billion after 2028, adding that stakeholders won’t have to wait long to see this milestone achieved.

Regarding workforce adjustments, the CEO stated that the bank expects to mainly reduce staff through natural attrition rather than forced layoffs by 2028.

The €250 million cost savings target is part of the bank’s efficiency improvement plan, which involves integrating new technology into operations while managing the transition of the workforce.

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