Bank Of Ireland CEO Myles O’Grady Targets Four Percent Annual Loan Growth Amid Rising Intergenerational Wealth Trends

CEO Myles O’Grady targets 4% annual loan growth at Bank of Ireland, focusing on intergenerational wealth and new savings products through 2028.

By: AXL Media

Published: Apr 3, 2026, 4:07 PM EDT

Source: The information in this article was sourced from The Irish Times

Ambitious Targets For Portfolio Expansion

Myles O’Grady is pursuing a rigorous growth trajectory that eluded his two immediate predecessors at the helm of Bank of Ireland. The newly unveiled strategy update sets a specific goal for the financial group to increase its loan book by 4% annually through 2028. According to the bank’s latest investor presentation, achieving this consistent growth rate would elevate the total value of the loan portfolio to approximately €90 billion, signaling a period of aggressive expansion in a competitive lending environment.

Capturing The Shift In Private Wealth

The Chief Executive has identified a massive transition in domestic capital, noting that the Irish economy is currently witnessing intergenerational wealth transfers on a grand scale. This demographic shift presents a unique opportunity for established retail banks to pivot their services toward wealth management and long term financial planning. O’Grady suggests that the bank is positioned to act as a primary facilitator for families navigating the complexities of inherited assets and the reinvestment of private capital back into the economy.

Advocating For New Savings Infrastructure

A central component of the bank’s future outlook involves the potential adoption of new financial vehicles to encourage retail investment. O’Grady expressed strong support for the introduction of an individual savings account model, describing such a move as a no regrets decision for the Irish market. By providing a structured product and service of this nature, the bank aims to deepen its relationship with savers and provide a more robust alternative to traditional deposit accounts in an evolving interest rate landscape.