5th May 2004

1
ANGLO IRISH BANK INTERIM RESULTS Six months
ended 31 March 2004
5th May 2004
2
Overview of Performance
Excellent results for 6 months to 31 March 2004
Lending
Profits before general bad debt provisions
Market leading growth in 2004
3
Selected Financial Highlights Interim 2004
Profits before general bad debt provisions
4
Interim Profit Loss Account Overview
m
2004
2003
Pre-tax profit 228.6 154.5 Underlying
profit 228.6 182.2
EPS 51.42c 33.55c Underlying EPS 51.42c
40.50
Profits before general bad debt provisions
Record profits and EPS
5
2004 Balance Sheet - Overview
bn
2004
2003
Total assets 30.4 25.8 Loans 21.3 18.5 Funding 26
.7 22.2 Capital resources 2.4 2.2 Tier
1 8.0 8.5
Restated at Mar - 04 currency exchange rates
Strong balance sheet and capital position
6
Interim Profit Loss Account
m
2004
2003
Net interest income 247.7 201.7 Fees
commissions 79.0 69.6 Dealing profits 7.0 2.7
Total income 333.7 274.0
7
Interim Profit Loss Account
m
2004
2003
Total income 333.7 274.0 Overheads (88.8) (74.5)
Depreciation/Goodwill (6.7) (6.3) Bad debt
provisions general - (27.7)
specific (9.6) (11.0) Profit
before tax 228.6 154.5
8
Interim Profit Loss Account
m
2004
2003
Profit before tax 228.6 154.5 Tax (50.6) (36.9) P
rofit after tax 178.0 117.6 Preference
dividend (8.2) (9.0) Attributable
profit 169.8 108.6
9
Interim 2004 Results Profits by Geography
2004
2003
Ireland 54
UK 35
Ireland 58
UK 32
11
10
Mainland Europe USA
Mainland Europe USA
Increasing geographical spread of profits
10
Total Loan Growth
15
Excellent loan growth across all markets
11
Loan Growth - Ireland
15
Underlying loan growth of 1.4bn
12
Loan Growth - UK
18
bn
Restated at Mar - 04 currency exchange rates
Underlying loan growth of 1.3bn
13
Loan Growth - Boston
10
Underlying loan growth of 104m
14
Sectoral spread Group
15
Lending Geographical analysis
2004
2003
Ireland 53
UK 41
Ireland 54
UK 40
6
6
Boston
Boston
Restated at Mar - 04 currency exchange rates
16
Provisions for bad or doubtful debts
General 234.7m
Specific 56.7m
Total provisions stand at 291.4m
17
Asset Quality
m
Provisions/NPLs
Strong coverage European average 80
18
Total Funding
20
Significant increase in funding resources
19
Total Funding
bn
65
Debt Securities 6.4
Customer Deposits 17.4
24
11
Interbank Deposits 2.9
Increasing diversity and quality of funding
20
Ratings
Moodys upgrade of long term, short term
financial strength ratings in March 2004.
Continued strengthening of profits, asset
quality and funding
21
Non lending revenues
m
H1
H1
2004
2003
Private Banking/ Asset Management 38 32 Treasury
Sales 19 12 Trade Finance
4 4 61 48
22
Interim 2004 Results Cost / income ratio
Efficient business model - gt70 of all
incremental income flows through to profit
23
Shareholder equity growth
m
Opening shareholders funds 911.2 Retentions 161.
0 Closing shareholders funds 1,072.2
Record six month retentions
24
Shareholder equity growth
118
Strong trend of internal capital generation
25
Summary of key ratios
2004
5 Year CAGR
Pre-tax profit 48 46 EPS
53 41 Underlying EPS 27 34 Total
Lending 15 36 Cost/Income
Ratio 28.6 Return on Equity 34
Very strong performance over 1 5 years
26
The Future
27
Work in progress
2004
m
3,416
42
53
Ireland 1,829
UK 1,437
Boston 5 150
Excellent pipeline augurs well for full year
28
Work in progress
2004
2003
m
UK 32
UK 42
Restated at Mar-04 currency exchange rates
Expanding franchise continuing strong growth
in W.I.P
29
Future

• Continue to follow our proven strategy
• Lending operations Ireland, UK, USA
• Treasury enhance funding and fee income
• Wealth Management operation Ireland and Europe
• Retain centralised business model
• Asset quality - not sacrificed for volume growth
• Acquisitions only if fit with criteria

Consistent strategy should deliver superior
returns
30
Summary

• Record results in H1 2004
• Strong growth across all areas
• Asset quality is robust
• Future business prospects remain strong

We are confident of the Banks future prospects
31
(No Transcript)
32
Appendices
33
Tier 1 capital position
m
2004
2003
Risk Weighted Assets 24,108 20,195 Equity Tier
1 1,072 917 Preference share
capital 255 259 TONICS 379 361 Perpetual
capital securities 296 261 Less deductions
(72) (80) 1,930 1,718 Tier 1 Capital
8.0
8.5
Strong Tier 1 capital position at 8
34
Analyst details
Investment Firm Analyst Phone Number ABN
Amro Eamon Hughes 353 1 609 3800 Bear
Stearns Tony Cummings 44 207 516 6360 BNP
Paribas Sarah Horder 44 207 595
6511 Cazenove Daragh Horgan 44 207 155
8208 Commerzbank Piers Brown 44 207 653
7654 Davy Stockbrokers Emer Lang/Scott
Rankin 353 1 614 8997 Fox-Pitt, Kelton Mark
Thomas 44 207 696 6256 Goodbody
Stockbrokers Joe Gill 353 1 641 9442 Merrill
Lynch Stephen Andrews/ 44 207 996 2134 John
Paul Crutchley Merrion Capital Seamus Murphy 353
1 240 4100 Morgan Stanley Stephen Jarvis / 44
207 513 3933 Robin Down NCB Stockbrokers David
Odlum 353 1 611 5941
35
Further Information

• For additional information, please contact any of
  the individuals below.

Sean FitzPatrick Chief Executive Officer Direct
Tel [phone] E-mail seanfitzpatrick_at_anglo
irishbank.ie
Willie McAteer Finance Director Direct Tel 353
1 616 2310 E-mail williammcateer_at_angloirishbank.i
e
Tiarnan O Mahoney Chief Operating Officer Direct
Tel [phone] E-mail tiarnanomahoney_at_anglo
irishbank.ie
John Rowan Managing Director UK Direct Tel 44
207 710 7020 E-mailjohnrowan_at_angloirishbank.co.uk
Tom Browne Director Direct Tel [phone]
2006 E-mail tombrowne_at_angloirishbank.ie
Matt Moran Associate Director, Group
Finance Direct Tel [phone] E-mail
mattmoran_at_angloirishbank.ie
Anglo Irish Bank, Stephen Court, 18/21 St.
Stephens Green, Dublin 2 www.angloirishbank.com