Banks

An Post aims to launch mortgage offering in 2022

  • 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 275c
Bank of Ireland OUTPERFORM 11/03/13 Neutral 14/08/12 538c
permanent tsb Group OUTPERFORM 04/02/21 Neutral 06/03/19 146c

DAVY VIEW

An Post first announced in 2018 that it intended to launch a mortgage offering that would offer a significantly lower rate than those available at that time. Two new entrants have subsequently entered the market, while An Post continues to search for a partner. It remains to be seen, beyond its brand, what USP An Post can provide to a partner. To be successful, distribution will probably require access to the broker channel; therefore, the economics of paying two partners significantly erodes the returns of the lender.

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Jun 4 2021, 08:05 IST/BST

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