AIB Group PLC's overall capital requirement will rise by 0.71% based on current exposures, following the Irish central bank's application of a 1% countercyclical buffer from July 5, 2019.

The group said it holds more capital than the minimum required by regulators. At the end of first quarter, the bank's fully loaded common equity Tier 1 ratio stood at 17.1%, well above its own target ratio of 13%.

The new regulation has no impact on Bank of Ireland Group PLC's capital guidance, that bank said, but will add about 60 basis points to its capital requirement. As of March, the group's fully loaded CET1 ratio stood at 13.7%, while its regulatory CET1 ratio was 15.4%.