Q3 preview: no fireworks

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


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 95.9c
Bank of Ireland OUTPERFORM 11/03/13 Neutral 14/08/12 189c
permanent tsb Group NEUTRAL 06/03/19 Outperform 01/08/18 47.1c


The recent introduction of Level 5 restrictions is likely to overshadow the good recovery in activity levels in Q3 and into early October. We do not expect material changes to provisioning from the increase in restrictions due to the proactive approach to provisioning in H1 and the increase to state supports following the move to Level 5. We expect capital to remain significantly above regulatory requirements, providing further reassurance on the ability to manage heightened restrictions.

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Oct 23 2020, 07:25 IST/BST