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Aug 14 2023, 07:05 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||944c|
|permanent tsb Group||OUTPERFORM||04/02/21||Neutral||06/03/19||210c|
The confirmation that the Bank Levy will be extended will not come as a surprise, albeit we await confirmation on quantum and calibration. Our base case remains that, regardless of its flaws, the current methodology will remain. The introduction of a ‘surplus tax’ in Italy has again increased perceived risk factors on political intervention – actual intervention has been the exception in Ireland and, most importantly, budgetary dynamics are quite different in Ireland and Italy as cost of living packages are put in place.