Financials

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Banks

Regulatory clarity and political pressure on interest on payment breaks

The European Banking Authority (EBA) clarification on the approach to interest for loan moratoria is useful, albeit the approach in Ireland has been clear — interest continues to...

FBD Holdings

Dividend postponed; €22m precautionary reserve for business interruption

The decision not to propose the 2019 dividend at the forthcoming AGM does not come as a surprise. However, the continuing treatment of the dividend as ‘foreseeable’ – i.e. postponed...

IRES REIT

Resolution of market concerns to provide material upside

Investor focus shifted away from positive company dynamics to a range of market concerns impacting IRES’ ratings. However, these concerns are now being resolved. Many of the group’s...

permanent tsb Group

Names Eamonn Crowley as new CEO

The appointment was widely expected and will be welcomed by investors, bringing clarity at a challenging time for the banking sector. In his position as CFO, Eamonn Crowley has had...

AIB Group

AT1 issue attracts strong demand and lowers CET1 requirement

AIB’s new AT1 issue yesterday (June 16th) benefitted from a supportive market as well as an improving domestic backdrop (see our report this morning). Strong investor demand helped...

Irish banks

Stable government and economic recovery positive for bank ratings

The proposed formation of a new government comes as the re-opening of the Irish economy is accelerating. Both factors should positively impact the Irish banking sector. The majority...

IRES REIT

Improving outlook set to drive renewed outperformance

Over the last six months, IRES has been impacted by a trio of issues, including talk of a rent freeze, political uncertainty following the general election and COVID-19. The outlook is...

Yew Grove REIT

Q2 2020 rent collection is strong

Yew Grove REIT has announced that rent collection across its office and industrial portfolio in Q2 2020 is 97%. A further 1.9% is deferred, giving a stronger rent collection for the...

Hibernia REIT

Full year results ahead of forecasts – future results likely to be impacted by COVID-19

Hibernia REIT has reported a strong set of figures for the year to March 31st. EPRA NAV of 179.3c is 2% above forecast, while earnings and dividends were also better than expected as...

Irish banks

COVID-19 clouds outlook but balance sheets well positioned

Irish banks have suffered over the last number of years – bounced by Brexit, roiled by low interest rates, discomfited by politics and awaiting credit growth that never materialised –...