Download full report with analyst certification and important disclosures
Feb 18 2021, 08:20 GMT
Banks
Ulster Bank exit to be announced tomorrow
- 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 | 163c |
| Bank of Ireland | OUTPERFORM | 11/03/13 | Neutral | 14/08/12 | 339c |
| permanent tsb Group | OUTPERFORM | 04/02/21 | Neutral | 06/03/19 | 92.8c |
DAVY VIEW
The announcement that Ulster Bank Ireland will exit the Irish market tomorrow (February 19th) appears quite inevitable now. An exit will mark significant change in the Irish market with challenges from increased liquidity but opportunities on the lending side. We recently upgraded PTSB to ‘Outperform’ in part due to opportunities that can arise from such an exit.
