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Jan 15 2025, 07:28 GMT
Banks
PTSB reducing mortgage rates
- 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 | 558c |
| Bank of Ireland | OUTPERFORM | 11/03/13 | Neutral | 14/08/12 | 907c |
| permanent tsb Group | OUTPERFORM | 04/02/21 | Neutral | 06/03/19 | 138c |
DAVY VIEW
Permanent tsb Group (PTSB) is positioning its product suite ahead of further ECB rate reductions to ensure momentum in lending is sustained into 2025. With at least another 100bps of ECB rate reductions anticipated, further mortgage rates cuts will be likely. As we commented upon last week, these will need to be followed by deposit cuts. In addition, volume growth will be an important dynamic to offset against the impact of rate reductions.
