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Aug 2 2019, 08:00 IST/BST
Banks
KBC cuts 2-year and 10-year fixed rates; AvantCard rules out entry into mortgage market
- Sectors : Banks
- Companies : permanent tsb Group | AIB Group | Bank of Ireland
Ratings
Ratings and price correct at time of issue
| Company | Rating | Date | Previous Rating | Date | Closing Price |
|---|---|---|---|---|---|
| AIB Group | OUTPERFORM | 23/01/19 | Neutral | 14/08/18 | 301c |
| Bank of Ireland | OUTPERFORM | 11/03/13 | Neutral | 14/08/12 | 390c |
| permanent tsb Group | NEUTRAL | 06/03/19 | Outperform | 01/08/18 | 116c |
DAVY VIEW
Competition in the mortgage market is becoming more nuanced, with recent moves focussing on specific parts of the market rather than universal changes to product suites – the reductions announced yesterday (August 1st) by KBC follow this pattern. Notwithstanding challenges presented by capital requirements, the market remains competitive. Elsewhere, Avantcard has signalled that the SME and car finance markets are areas of interest for future expansion over the mortgage market – confirming that it did not participate in the An Post tender.
