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May 14 2025, 07:10 IST/BST
Banks
Goldman Sachs may enter Irish deposit market
- 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 | 649c |
| Bank of Ireland | OUTPERFORM | 11/03/13 | Neutral | 14/08/12 | 1157c |
| permanent tsb Group | OUTPERFORM | 04/02/21 | Neutral | 06/03/19 | 175c |
DAVY VIEW
While the banking market has been consolidated, competition is available – albeit with limited impact to date. Compared to euro area averages, Irish households prefer to retain significantly larger balances in current and overnight accounts, with only small amounts of deposits held outside the three domestic banks. Goldman Sachs’ digital bank, Marcus, may be well resourced, but it will likely be some time before any prospective plans come to fruition; other banks will launch in advance, with Bankinter’s Avant Money set to launch savings products later this year.
