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Apr 9 2024, 07:05 IST/BST
Banks
AIBG mortgage rate cuts; credit union capacity
- 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 | 503c |
| Bank of Ireland | OUTPERFORM | 11/03/13 | Neutral | 14/08/12 | 996c |
| permanent tsb Group | OUTPERFORM | 04/02/21 | Neutral | 06/03/19 | 161c |
DAVY VIEW
Green mortgage lending is a particularly vibrant part of the market at present and one where banks are likely to continue to focus attention due to (a) priorities to green balance sheets and (b) growth in the market from new builds and retrofitting. Elsewhere, like the banking sector, credit unions also saw an upturn in fortunes in 2023 with better returns and increased lending. Credit unions are active in mortgage lending, representing a small proportion of activity at present. While this will increase in the coming years, they will be constrained by maturity and concentration limits.
