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Sep 8 2020, 08:35 IST/BST
Banks
Credit Guarantee Scheme now live
- Sectors : Banks
- Companies : permanent tsb Group | AIB 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 | 109c |
| Bank of Ireland | OUTPERFORM | 11/03/13 | Neutral | 14/08/12 | 203c |
| permanent tsb Group | NEUTRAL | 06/03/19 | Outperform | 01/08/18 | 44.5c |
DAVY VIEW
The launch of the Credit Guarantee Scheme will be welcomed as providing cashflow and working capital support to SMEs. The interest costs reflect the 80% guarantee and an annual guarantee fee also applies, increasing the cost — a key difference to other schemes, notably the UK’s Coronavirus Business Interruption Loan Scheme (CBILS).
