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Jan 11 2024, 08:10 GMT
Banks
Deposit churn remains muted
- 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 | 395c |
| Bank of Ireland | OUTPERFORM | 11/03/13 | Neutral | 14/08/12 | 855c |
| permanent tsb Group | OUTPERFORM | 04/02/21 | Neutral | 06/03/19 | 170c |
DAVY VIEW
As noted earlier this week, further evidence that deposits are not migrating at significant rates from current and notice accounts to term deposit account despite the higher rates offered since late summer. Therefore, deposit betas remain low which may provide some upside to FY2023 net interest guidance provided by AIB Group (AIBG) and Bank of Ireland (BIRG) and a better trajectory into 2024.
