Nov 25 2022
Financials
Recent Research
Banks, Financial Stability Review – no surprises
Nov 24 2022
Banks, Re-mortgaging activity remains elevated
Nov 24 2022
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AIB Group
Medium-term targets trajectory likely well understood
AIB is well set in the coming years to deliver higher returns and profitability, underpinned by a positive backdrop from higher rates and consolidation. In our view, the earnings upsides...
Banks
Financial Stability Review – no surprises
The increase in the countercyclical capital buffer (CCyB) to 1ppt is in line with the Central Bank of Ireland’s (CBI) guidance and it remains its view that a 1.5ppt rate is the neutral...
Banks
Re-mortgaging activity remains elevated
Mortgage approvals continue to demonstrate the competitive nature of the mortgage market, with re-financing still running at elevated levels. This is likely to persist into year-end and...
Irish banks and housebuilders
Easing of mortgage rules supportive of outperformance
The Central Bank of Ireland’s (CBI) easing of mortgage rules is another demand-side response to a supply-side issue. It will have an inflationary impact but should not stretch credit...
permanent tsb Group
Strong business momentum evident
A strong business performance continued into Q3 for permanent tsb Group (PTSB), with upgraded guidance on FY 2022 net interest income (NII) and solid business activity in the...
Banks
Mortgage rates fall modestly in rising rate environment
New mortgage rates in Ireland continue to buck trends across Europe with modest falls as official rates and mortgage rates elsewhere are rising. Structural reasons explain this trend...
Bank of Ireland
Strong income and business activity with FY 2022 upgrade
This is a strong Q3 update for Bank of Ireland (BOI), providing good early insights into two key trends for the coming years. Firstly, the impact of interest rates, with FY 2022...
Banks
Further progress on state disposals
The Irish state continues to affect its strategy to sell down its stake in AIB, while its stake was reduced in permanent tsb Group (PTSB) as part of its transformational acquisition of...
permanent tsb Group
Completion of first stage of transformational acquisition
The first stage of permanent tsb Group’s (PTSB) transformational acquisition from Ulster Bank Ireland has completed. The transaction will substantially increase the scale of PTSB and...
FBD Holdings
Benefits from personal injuries overhaul
The overhaul of personal injury awards continues to provide a positive tailwind and to some extent provides an offset to the inflationary pressure on vehicle and property damages....
