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Sep 23 2022, 07:00 IST/BST
Ratings and price correct at time of issue
|Company||Rating||Date||Previous Rating||Date||Closing Price|
|Bank of Ireland||OUTPERFORM||11/03/13||Neutral||14/08/12||743c|
|permanent tsb Group||OUTPERFORM||04/02/21||Neutral||06/03/19||169c|
For the first time since the Global Financial Crisis, sustainable returns are in sight for Irish banks. Operating jaws will widen substantially after years of tightening, with material increases to pre-provision operating profits. Better earnings will make the Irish sector more resilient to shocks and enable more appropriate capital distribution policies and normalisation of capital levels. While macroeconomic uncertainties persist, we believe Irish banks are well positioned and reiterate our ‘Outperform’ ratings.