Bank of Ireland
Responsible Business

Responsible Business
at Bank of Ireland

Our Purpose
and Values

Enabling our customers, colleagues and communities to thrive.

Customers

The most successful companies have a strong sense of purpose. They are clear, not only about what they are here to do, but why. Over the past decade, we worked to recover from the financial crisis, repay taxpayers for their support and create a sustainable business. We were clear about what we needed to do. We made good progress but we sometimes made mistakes. In the next stage of our journey we need to go further and harness our collective strength for our customers, colleagues and communities.

Rebuilding trust in Bank of Ireland

The first step on our journey is to rebuild trust. We need to rebuild the trust between us and our customers, to work together to better anticipate their needs and work harder to deliver for them. To do this, we need to help our colleagues develop new skills, enable them to work more effectively, and use our shared expertise to grow. At the same time, we need to look beyond the four walls of Bank of Ireland and use our collective strength to better support the communities we work in and for.

A thorough review of our company culture

Rebuilding trust started with a review of our company culture. We wanted to understand what our colleagues felt about our culture, how they thought they should behave and how this was affecting our customers. The review involved interviews, surveys and discussions to help us agree the culture we wanted to have in the future and how to get from here to there.

Defining a common purpose

A clear sense of purpose is critical to support us on our journey to transform Bank of Ireland. It is 'why’ we do business. Our new Purpose is:

Enabling our customers,
colleagues and communities
to thrive.

Every word of our Purpose is important and
was selected for a particular reason.

Enabling means empowering people, giving them the ability to do something they might not be able to do alone.

Customers are at the heart of our business and always come first.

Colleagues keep our organisation working, innovating and adapting to meet our customers’ needs.

Communities are those in which we live and work, and also include other groups both local and global, such as our partners, shareholders, regulators and government.

Thrive is broader than financial success – it means to flourish, prosper and progress towards whatever we want to achieve in life.

Responsible Business

Four key values to guide us

To help guide our colleagues as we transform the Bank of Ireland culture, we have defined four Values. These Values embody our commitments to our customers, colleagues and communities, and sum up the specific behaviours we all need to live by every day. By making these behaviours open and transparent, we are enabling everyone in our organisation to speak up, to challenge things and to change them. Our Purpose tells everyone ‘why’ we are in business. Our Values are how we get to the ‘why’ – they act as our behavioural compass for how we achieve our Ambition, Purpose and Strategic Priorities.

Customer Focused

We understand our customers well. We listen to them to ensure they feel valued. We use our insights to consider how best to serve their needs. We take appropriate actions to deliver solutions to meet customers’ changing requirements.

Accountable

We are empowered to take ownership and trusted to do the right thing to support our customers, colleagues and communities. We lead by example and challenge ourselves and each other to do our best work at all times. We learn from our mistakes and celebrate our successes together.

One group, one team

We know we work smarter when we come together behind our common purpose. We learn from each other and share ideas to expand our thinking. We build an open, trusting and supportive environment and foster diversity of thought, ideas and experiences to spark creativity.

Agile

We embrace change with an open mind and a can-do attitude. We respond quickly and proactively seek different perspectives. We challenge ourselves to look for new and simplified ways to efficiently deliver the best solutions for our customers.

Together, everyone at Bank of Ireland is responsible for living our Values in order to ensure that our behaviour always supports our Purpose of enabling our customers, colleagues and communities to thrive.