Davy Research

AIB Group

Q3 trading update – delivering on its IPO promise
Banks
AIB Group

DAVY VIEW

This is a strong statement, underpinned by significant margin and capital gains that, if sustained, will likely result in mid-single-digit upgrades to our 2018 and 2019 forecast profits. In light of the significant scrutiny regarding the industry-wide tracker mortgage review, AIB’s view that any change to provisioning is unlikely to be material is encouraging. We expect the focus of this morning’s call to be on the future net interest margin (NIM) trajectory, clarity on non-performing loan (NPL) sales, mortgage market competition and risk-weighted asset (RWA) trends

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  • RATINGS AND PRICE CORRECT AT TIME OF ISSUE


  • AIB Group

    Closing Price: 555c

  • RATING 03/08/17

  • PREVIOUS RATING 28/10/16

    Under Review

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