Banks

Cerberus considers Ulster Bank loan portfolio

  • 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 95.6c
Bank of Ireland OUTPERFORM 11/03/13 Neutral 14/08/12 187c
permanent tsb Group NEUTRAL 06/03/19 Outperform 01/08/18 47.5c

DAVY VIEW

The review of Ulster Bank Ireland by NatWest remains ongoing with continued speculation regarding its conclusion. Ulster Bank Ireland remains significantly overcapitalised from a CET 1 perspective, and we would expect unlocking this is a priority for NatWest. The sale of the entire portfolio to an investment fund would accelerate a wind-down but would also incur significant costs to close the remainder of the bank.

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Oct 16 2020, 08:25 IST/BST

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