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Nov 24 2023, 08:10 GMT
Banks
Financial Stability Review in line; strong growth in first- time buyer approvals
- 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 | 422c |
| Bank of Ireland | OUTPERFORM | 11/03/13 | Neutral | 14/08/12 | 888c |
| permanent tsb Group | OUTPERFORM | 04/02/21 | Neutral | 06/03/19 | 173c |
DAVY VIEW
The outcomes of the Financial Stability Review, with countercyclical capital buffers (CCyB) unchanged and the addition of PTSB as a domestic systemically important institution (O-SII), are in line with expectations. This provides some confidence that the period of capital buffer build in Ireland is coming towards an end. Elsewhere, mortgage approvals for October are consistent with trends evident across 2023. First-time buyer (FTBs) approvals continue to increase with material falls in re-mortgaging. Growth in FTBs is positive for overall mortgage volume growth.
