Bank of Ireland has published its first responsible business report. The report, which covers the bank's governance but also its relationships with customers, staff, the broader community and the environment, was launched by chief executive Richie Boucher.

The report aims to give an account of the various initiatives the bank has been involved in during the year and addresses its approach to being a sustainable business.

Explaining why the bank had chosen to publish the report, Mr Boucher said: “We have many reports on our financial results but it’s important that we are transparent and open and record the involvement that we have in supporting communities and a range of other matters.”

He said one of the “seminal moments” for those compiling the report had been the repayment of State aid. “Obviously, we shouldn’t have got ourselves into that situation in the first place, but I think that repaying the Irish taxpayer was a very significant confidence factor.”

In the report, Barnardos chief executive Fergus Finlay praises the bank for its approach to charity partnerships.