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Jan 28 2022, 08:35 GMT
Banks
Ulster Bank tracker mortgage bidding process
- 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 | 235c |
| Bank of Ireland | OUTPERFORM | 11/03/13 | Neutral | 14/08/12 | 580c |
| permanent tsb Group | OUTPERFORM | 04/02/21 | Neutral | 06/03/19 | 170c |
DAVY VIEW
While never confirming its involvement in the Ulster Bank tracker mortgage process, AIB has stated that opportunities could yet arise from the exits as one of the key reasons why it is not pressing ahead with plans to return surplus capital. The economics of a tracker portfolio are different to that of other portfolios and banks need to be more sensitive on pricing to generate returns. The process is unlikely to be completed by AIB’s FY 2021 results and therefore intentions on surplus capital returns are unlikely to be clarified.
