Banks

Priorities in unprecedented times

  • Sectors : Banks
  • Companies : Bank of Ireland | AIB Group | Virgin Money UK | RBS | Lloyds Banking Group | permanent tsb Group

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 99.7c
Bank of Ireland OUTPERFORM 11/03/13 Neutral 14/08/12 176c
Lloyds Banking Group OUTPERFORM 28/05/19 Neutral 14/02/18 33.6p
permanent tsb Group NEUTRAL 06/03/19 Outperform 01/08/18 48.0c
RBS NEUTRAL 11/02/19 N/A N/A 120p
Virgin Money UK NEUTRAL 17/12/19 Underperform 15/11/19 58.3p

DAVY VIEW

COVID-19 presents material uncertainties and challenges which, from a banking perspective, will take some time to become meaningfully apparent. Priorities have changed and continue to evolve for both banks and regulators. Banks are in strong capital positions and buffers are being released – assisting banks to support their customers. Globally, the payment of dividends and buybacks are now being reconsidered and suspended. This should be regarded as a pragmatic move while the picture becomes clearer. Regulators have acted quickly and decisively, but other initiatives should be considered to provide further support.

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Mar 25 2020, 15:10 GMT

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