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May 14 2021, 08:20 IST/BST
Banks
Further competition in mortgage market
- 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 | 253c |
| Bank of Ireland | OUTPERFORM | 11/03/13 | Neutral | 14/08/12 | 517c |
| permanent tsb Group | OUTPERFORM | 04/02/21 | Neutral | 06/03/19 | 149c |
DAVY VIEW
Following yesterday’s introduction of long-term fixed rates by Finance Ireland, Avant Money is now lowering rates across its product suite. The market remains competitive and non-bank lenders are positioning to grow share against the backdrop of both Ulster Bank Ireland and KBC Bank Ireland exits. The move will likely result in further pricing declines from incumbent players, albeit pressure on core margins will be offset by the ongoing reduction in tracker mortgage portfolios.
