Bank of Ireland

Strong organic performance; material upgrade to FY 2021

  • Sectors : Banks
  • Companies : Bank of Ireland

Ratings and price correct at time of issue.

  • Bank of Ireland

    Closing Price: 448c

  • RATING 11/03/13

  • PREVIOUS RATING 14/08/12



H1 2021 results are well ahead of our forecasts on income, impairment provisions and capital – trends on all are guided to continue inferring a material upgrade to FY 2021 for both Davy forecasts and consensus. H1 results demonstrate good organic recovery (pre-provision has now recovered to higher levels than 2019), underpinned by a very strong capital position. Inorganic activity will likely come through in 2022, supporting a further re-rating of the stock in the months ahead.

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Aug 3 2021, 07:20 IST/BST