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Sep 21 2023, 08:10 IST/BST
Banks
CBI cautions on Bank Levy; seeks higher pass through on loans and deposits
- 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 | 406c |
| Bank of Ireland | OUTPERFORM | 11/03/13 | Neutral | 14/08/12 | 880c |
| permanent tsb Group | OUTPERFORM | 04/02/21 | Neutral | 06/03/19 | 206c |
DAVY VIEW
The Central Bank Governor’s comments on the Bank Levy are entirely reasonable, in that policy should be determined over a cycle and not a particular point in time. On interest rate pass through, there is a balance that needs to be applied and where product rates are not tied to official rates, it should be expected that lags in pricing changes will occur – this is occurring in Ireland.
