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Nov 12 2025, 07:00 GMT
Banks
Banks monthly: NII inflection
- Sectors : Banks
- Companies : 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 | 861c |
| Bank of Ireland | OUTPERFORM | 11/03/13 | Neutral | 14/08/12 | 1531c |
DAVY VIEW
Net interest income (NII) and underlying profitability inflection will now occur in 2025, a year earlier than anticipated. This demonstrates the resilience in the business models of AIB Group (AIBG) and Bank of Ireland (BIRG), with rate downside now largely played out. Going forward, dynamics on lending and deposit growth will be key – both remain positive. We upgrade our forecasts post Q3 updates, retain our ‘Outperform’ ratings and increase our price targets to €10.10 and €18.30 respectively.
