Oct 16 2019
Financials
Recent Research
REITS, 2019 Budget considerations
Oct 9 2019
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REITS
Fed policy considerations: Part 3
The U-turn in monetary policy by the US Federal Reserve (Fed) is now complete. After abandoning quantitative tapering and then lowering interest rates, the latest development is the...
Bank of Ireland
Myles O’Grady appointed Group CFO, subject to regulatory approval
Myles O’Grady brings significant experience to the position of Group Chief Financial Officer (CFO) and his appointment will be welcomed. Delivering Bank of Ireland’s (BOI) strategic plan,...
Banks
Strategic updates the main catalyst for re-ratings
On a year-to-date basis, Irish banks and CYBG continue to significantly underperform the SX7P index; in contrast, Lloyds Banking Group (LLOY) and RBS have modestly outperformed the...
Irish economy
Brexit extension should benefit Irish government bonds and equities
The strong performance of Ireland’s economy and Irish asset prices (banks, homebuilders, government bonds) have diverged in 2019, reflecting Brexit fears. This provides an opportunity...
Bank of Ireland
Extends UK Post Office partnership until 2026
Bank of Ireland’s (BOI) renegotiation and extension of the exclusive partnership with the UK Post Office is a further incremental step towards improving the returns generated in the...
Banks
Financial site visit: key take-aways
Controlling the controllables was the overriding theme of this year’s Davy Financial site visit. The uncertainties in the market arising from the interest rate environment and Brexit...
Irish banks
Minister for Finance investor briefing
The key take-aways from our investor briefing with the Minister for Finance are that while the economy is facing uncertainties from Brexit it is doing so from a position of strength....
UK banks
PPI removes the shine from averting October ‘no-deal’ Brexit
The prospect of a ‘no-deal’ Brexit in October is on the verge of being averted – good news for UK banks, but the end of payment protection insurance (PPI) has come with a...
permanent tsb Group
Self-help progress constrained by external headwinds
Commercial progress was again evident in H1 2019 with new lending increasing by 22%. However, this is clouded by external factors – the ongoing requirement to reduce non-performing...
IRES REIT
Strong H1 2019 results
IRES has reported 18% year on year (yoy) growth in net rental income (NRI) in H1 2019. This has been driven by organic rent growth and acquisitions, which exclude the recent XVI...
