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Jan 8 2025, 08:02 GMT
Banks
Deposit rates beginning to fall
- 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 | 536c |
| Bank of Ireland | OUTPERFORM | 11/03/13 | Neutral | 14/08/12 | 874c |
| permanent tsb Group | OUTPERFORM | 04/02/21 | Neutral | 06/03/19 | 143c |
DAVY VIEW
While the reduction in term rates is modest, we expect advertised rates will continue to fall during 2025 to reflect the trajectory of the ECB and it is positive to see commercial pricing actions. Households in Ireland continue to hold significantly more in overnight accounts compared with eurozone peers; this has resulted in a lower increase in cost of funding for Irish banks following the ECB’s hiking cycle.
