Download full report with analyst certification and important disclosures
Feb 18 2020, 07:20 GMT
Bank of Ireland
FY 2019 preview: refocus on fundamentals
- Sectors : Banks
- Companies : Bank of Ireland
DAVY VIEW
Political uncertainty has weighed on Bank of Ireland’s valuation for some time with a heightened risk premium applied for much of the last 24 months, a factor that is unlikely to fade without certainty on government formation. Therefore, the FY 2019 results are a welcome opportunity to focus on fundamentals. Delivery on two key strategic ambitions – cost reductions and lending growth – will be evident. The main focus will be on further strategic initiatives to improve returns on a sustainable basis; we forecast c.8% RoTE in 2021.
