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Jul 11 2018, 07:20 IST/BST
Ratings and price correct at time of issue
|Company||Rating||Date||Previous Rating||Date||Closing Price|
|Bank of Ireland||OUTPERFORM||11/03/13||Neutral||14/08/12||664c|
|permanent tsb Group||NEUTRAL||03/08/17||Outperform||03/10/16||198c|
It was another month of mixed performance for the Irish banks against the backdrop of a flat sector that recovered from a poor start. PTSB outperformed while Bank of Ireland (BOI) reversed its year-to-date (ytd) gains following its strategic update, which prioritises investment over near-term dividend increases. The main domestic newsflow was the introduction of the countercyclical capital buffer (CCyB), which is a statement of intent from regulatory authorities to ensure the “resilience” of the Irish system, adding to capital requirements arising from above average Pillar 2 buffers and risk weighted assets (RWAs).