Download full report with analyst certification and important disclosures
Aug 5 2021, 08:25 IST/BST
Banks
Further rate cuts in the 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 | 222c |
| Bank of Ireland | OUTPERFORM | 11/03/13 | Neutral | 14/08/12 | 488c |
| permanent tsb Group | OUTPERFORM | 04/02/21 | Neutral | 06/03/19 | 142c |
DAVY VIEW
The announcement by ICS Mortgages sees its rates move to the lower end of the market, better positioning it for the exits of Ulster Bank Ireland and KBC Bank Ireland. The mortgage market remains competitive as lenders position for the large upcoming changes in market structure. The longer-term prospects for the market hinge more on housing market activity; a revised housing plan is due from the government shortly that could provide a key catalyst for increased activity and mortgage lending.
