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Jan 9 2024, 07:10 GMT
Banks
First-time buyers continue to lead mortgage approvals
- 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 | 419c |
| Bank of Ireland | OUTPERFORM | 11/03/13 | Neutral | 14/08/12 | 886c |
| permanent tsb Group | OUTPERFORM | 04/02/21 | Neutral | 06/03/19 | 173c |
DAVY VIEW
Key trends across mortgage approvals and credit and banking statistics remain broadly unchanged in November. Mortgage approvals continue to show the impacts of looser LTI rules and the equity loan scheme on first-time buyers and higher interest rates on the rest of the mortgage market (particularly re-mortgaging). Household lending continues to increase from both mortgage and consumer lending, while reductions in deposits are seasonal on Christmas spending and the movement into term accounts from current and demand accounts remains low.
