Feb 18 2019
Financials
Recent Research
AIB Group, FY 2018 results preview
Feb 18 2019
Bank of Ireland, FY 2018 results preview
Feb 18 2019
Hibernia REIT, Trading statement
Feb 13 2019
Meet your Financials Research team
permanent tsb Group
FY 2018 results preview
2018 results will demonstrate a c.70% reduction in non-performing exposures (NPEs), assuaging any lingering solvency concerns. With a ratio just below 10%, NPEs will be a continued focus;...
AIB Group
FY 2018 results preview
AIB will report FY 2018 results on March 1st with loan growth, non-performing exposure (NPE) reduction and capital requirements the key focus in our view. Focus on the magnitude and...
Bank of Ireland
FY 2018 results preview
Bank of Ireland reports FY 2018 results on February 25th with net interest margin (NIM), loan growth and progress on transformation the key areas of focus in our view. Initial...
RBS
Initiation of coverage: best efforts undermined by uncertain economic outlook
RBS should enter 2019 with welcome clarity regarding its investment case and go-forward momentum following further restructuring progress, efficiency gains as well as a resolution to...
Irish banks
Monthly update: the price you pay
The wider move in bank credit spreads in recent months prompts us to revise our issuance assumptions, with c.2% downgrades to forecast profits. Solid progress in 2018 towards...
IFG Group
Looking to 2021; updating forecasts post strategy review
2018 was a year of significant change for IFG. A strategic review early in the year concluded with the retention of Saunderson House and significant management changes, while the year...
Davy Conviction List
Q4 2018 a period to forget; sticking with our core names; adding Glenveagh Properties and ICG
While the Davy Research Conviction List had a disappointing final quarter in 2018, we believe that all the names on the list still merit inclusion and are significantly oversold. We are...
Year-end Document
Ireland’s call: investment opportunities in 2019
The 21% decline in the Irish equity market in 2018 was at odds with on-going strength in the economy. With economic growth expected to exceed 5% in 2019 (subject to an on-going fudge...
Irish banks
Monthly update: a credible reason
Irish politicians are correct to highlight the significant differential in pricing between Irish mortgages and the rest of Europe. Yet their ire is misdirected – focussing on pricing alone...
Irish banks
Monthly update: stress test outcome much improved
The positive outcome for AIB and BOI in the EBA stress test exercise is welcome and should help the banks to retrace some of their recent underperformance. The outcome is testament...
