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Nov 11 2022, 10:45 GMT
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||731c|
|permanent tsb Group||OUTPERFORM||04/02/21||Neutral||06/03/19||175c|
The Central Bank of Ireland’s (CBI) easing of mortgage rules is another demand-side response to a supply-side issue. It will have an inflationary impact but should not stretch credit quality given the highly conservative starting point. The easing provides greater confidence in mortgage activity – good for Irish bank balance sheet growth – while Irish homebuilders are likely to outperform builders from other geographies in this environment.