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Jun 1 2022, 07:15 IST/BST
Banks
Housing: rate rises less impactful to Ireland
- Sectors : Banks
- Companies : permanent tsb Group | Cairn Homes | Glenveagh Properties | Bank of Ireland | AIB Group
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 | 250c |
| Bank of Ireland | OUTPERFORM | 11/03/13 | Neutral | 14/08/12 | 631c |
| Cairn Homes | OUTPERFORM | 26/08/15 | N/A | N/A | 108c |
| Glenveagh Properties | OUTPERFORM | 10/11/17 | N/A | N/A | 94.8c |
| permanent tsb Group | OUTPERFORM | 04/02/21 | Neutral | 06/03/19 | 148c |
DAVY VIEW
Lending for house purchase in Ireland is likely to perform significantly better than other European countries as mortgage rates rise due to the conservative macroprudential rules in place in Ireland. Relative to European peers, this is likely to be a significant positive theme for Irish banks and homebuilders – particularly in the next year.
