Bank of Ireland (BKIR) reports interim results on Friday, 1 August. We’re looking for net interest income of €1,109m (NIM exELG fees of 2.05%), pre NAMA sub deprovision profit of €610m and underlying profit before tax of €271m (including €65m uplift from bt revaluation). After a €1.2bn decline in net loans over Q1 2014 (to €83.3bn), any signs of a slowdown in loan book contraction (FX tailwinds aside) would be positive. Management has been reluctant to comment on the timing of a potential turnaround in loa n book growth, but underlying credit demand in Ireland should be improving from a low base. BKIR’s last market update (IMS on 25 April) was light on commentary regarding impairments, other than to say that “asset quality trends continue to improve in line with our expectations”. Last Friday, Ulster Bank reported a substantial improvement in charges in H1 (£57m vs. £503m last year). AIB, which is expecting a “material” reduction in charges in H1, reports on 30 July and will provide an early (likely positive) readacross for BKIR. Reassuring remarks from management around the ECB’s (admittedly somewhat opaque) Comprehensive Assessment would also support the stock following a recent bounce from year Emmet Gaffney │ todate lows. Research Analyst Contact Details: │ +353 1 421 0494 │ emmet . gaffney @investec.ie Economics +353 1 421 0496 Currency +353 1 421 0091 Equities +353 1 421 0463 www.investec.ie firstname.lastname@example.org 3 To view the full range of Investec Research & Insights, go to www.investec.ie/research
RE: Anyone up for a bet???
Start with an easier one. Where will we be at 5.30 on Friday evening?
up and down like a yo yo today
Anyone up for a bet???
so new day and all that, just to get a discussion going who here wants to go to the bookies and bet that bkir will be below 400 in June 2016? I just want to see what sentiment is like here. IMHO 400 should be an easy target and should see 13 times yield on where we are now. I know that people have discussed the idea of an inverted stock split but I think it's hog wash because bkir has less shares then lloyds, it just needs to be noticed in my opinion, the EU stress tests should do the trick. Dog
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.