Banks

Mortgage market reflection following Q3 developments

  • Sectors : Banks
  • Companies : AIB Group | permanent tsb Group | Bank of Ireland

Ratings

Ratings and price correct at time of issue

Company Rating Date Previous Rating Date Closing Price
AIB Group OUTPERFORM 23/01/19 Neutral 14/08/18 292c
Bank of Ireland OUTPERFORM 11/03/13 Neutral 14/08/12 448c
permanent tsb Group NEUTRAL 06/03/19 Outperform 01/08/18 115c

DAVY VIEW

Mortgage market lending continues to grow and is on track to meet our 11% growth forecast for 2019 despite Brexit uncertainty and weakening house price growth. The market recovery remains in its infancy and its continued recovery will help reinforce balance sheet growth. Against this, the market remains competitive, but pricing actions have become more targeted. We expect modest attrition, but not significant erosion, of back-book mortgage rates.

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Nov 11 2019, 07:00 GMT

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