Getting Better

  • Sectors : Banks
  • Companies : permanent tsb Group | AIB Group | Bank of Ireland


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 244c
Bank of Ireland OUTPERFORM 11/03/13 Neutral 14/08/12 517c
permanent tsb Group OUTPERFORM 04/02/21 Neutral 06/03/19 155c


Irish banks have re-rated materially in the last year, reversing most of the discount to the broader euro banks index. The backdrop remains conducive to further re-ratings with positive earnings momentum and upside from the housing market and asset quality. 2022 will be a year of capital deployment, enabling material increases in distribution capability. We continue to see significant upside from our valuation across all three banks and reiterate our ‘Outperform’ ratings. It’s getting better all the time.

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Oct 18 2021, 06:45 IST/BST