Financials

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AIB Group

FY 2020 preview

AIB’s strategic intent was outlined in late 2020, setting out its medium-term approach to 2023 and an 8% return target. We expect further details on deliverables during 2021 and how...

permanent tsb Group

FY 2020 preview

The 2020 loss is not reflective of the progress achieved by PTSB through the capital accretive disposal of the non-core buy-to-let portfolio while also building its mortgage market...

Bank of Ireland

FY 2020 preview

A FY 2020 loss is well flagged, but Bank of Ireland (BOI) results will demonstrate good ongoing progress on transformation and costs – with capital strength against the significant build...

AIB Group

Positive catalysts: performing loan book acquisition; NPL sale

The proposed acquisition of Ulster Bank’s €4bn commercial and corporate loans is incrementally positive for AIB, deploying surplus capital and improving returns. In addition, the...

permanent tsb Group

In discussion with NatWest on Retail and SME operations

As anticipated, NatWest has announced a phased withdrawal from Ireland. This will materially change the landscape of Irish banking. The ability to acquire a portfolio of assets and...

IRES REIT

FY results reflect the resilience of the business

IRES has reported FY2020 results that are above our forecasts. They reflect a significant improvement in earnings metrics and asset valuations in the second half with full year...

Banks

Ulster Bank exit to be announced tomorrow

The announcement that Ulster Bank Ireland will exit the Irish market tomorrow (February 19th) appears quite inevitable now. An exit will mark significant change in the Irish market with...

FBD Holdings

FY 2020 preview

FBD will release FY 2020 results on February 26th. The conclusion of the Business Interruption (BI) case should enable FBD to provide greater clarity on the impact; we expect an...

Banks

Ulster Bank committee threat; Bank of Ireland/An Post agreement

The threat from the Finance Committee to Ulster Bank is unlikely to result in legislation as it would most probably be unconstitutional. Meanwhile, allowing customers to transact services...

Banks

New analysis of Ireland’s high mortgage capital requirements

It is well known that capital requirements for Irish mortgages are materially elevated (and this is the primary driver of higher cost mortgages versus other European countries). We now...