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Apr 4 2025, 08:35 IST/BST
Banks
Well placed in an uncertain world
- 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 | 585c |
| Bank of Ireland | OUTPERFORM | 11/03/13 | Neutral | 14/08/12 | 1069c |
| permanent tsb Group | OUTPERFORM | 04/02/21 | Neutral | 06/03/19 | 149c |
DAVY VIEW
Starting positions are always critical when faced with uncertainty. We find Irish banks to be in strong positions facing into trade war-induced global macro headwinds. Risk metrics on capital, liquidity and asset quality remain robust. Loan growth may moderate on uncertainty, but the structural deficit in housing remains a compelling tailwind. We reiterate our ‘Outperform’ ratings with unchanged price targets across all three Irish banks.
