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.

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Sep 21 2023, 08:10 IST/BST

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