The Irish Banking Federation’s (IBF) latest Mortgage Market Profile shows that €820m of mortgage lending was completed during Q214 up from €568m in Q114 (44.4% growth) and €518m in Q213 (58.3% growth). First time buyers (€396m; 48.3%) and movers (€358m; 43.7%) continued to account for the majority of lending during the period. With a total of 4,803 mortgages drawn down in Q214, the average loan value was €170,727 €160,421 in Q213. Combined with Q114’s outturn, the Irish mortup from €165,839 in Q114 and gage market totalled €1,388m in H114 since 2010. the strongest H1 Drawdowns of €1,388m in H114 compare to €1,998m of approvals over the same period, highlighting the still between the two (exacerbated by supply shortages in certain parts of thwide gap e country) but suggesting that lending volumes will continue to improve over the remainder of the year (as outstanding approvals are converted into drawdowns). We note that approvals were particularly strong in Q214 (€1,217m), with each month representing series (dating back to January 2011). the thenstrongest outturn in the Given the trends outlined above and the fact that H2 is a seasonally stronger period than H1, the Irish mortgage market looks on course to break €3bn this year, after averaging €2.5bn p.a. over the last three years. Activity is clearly building but with estimates of a normalised market typically ranging between €8bn and €10bn p.a., there remains significant capacity for growth. For Bank of Ireland, which had a c.30% market share in H11 lend c.€12bn to Irish homeowners and consumers over 20134 (€410m originated) and is aiming to 17, such growth would boost top line growth at attractive margins (average SVR of 4.5% vs. 1.15% cost of funds)
"We reiterate our BUY recommendation and maintain our target price of €0.35 based on 2017 DCF projections. We also believe the bank will pay a 1c dividend in 2016, and we have increased our 2017 projected dividend to 2c from 1c."
Thats the first call on a dividend I've seen. Interesting.
Although these are the guys who recommended that their clients buy an Australian oil share exploring off the coast of Kenya which turned out to be a complete dog.
I had RBS shares when they decided to divide by 10. Didn't really make any difference except it p*ssed me off that they had the cheek to round down in the conversion, with no compensation of any kind. If this looks like it's going to occur make sure you have a nice round number for it to divide into.
However, I think. no inverted share split would be considered until the Goverment Percentage is sold. Could you imagine the publics reaction to the number of shares being reduced, The non clued in majority of the population would see it as a big fiddlle by tyhe banks to reduce what they pay for getting rid of the goverment. The goverment in power would not look good to Joe Soap. I do appreciate it would acctually make no difference but perception is everything
Gelboy, so your strategy is hold until 2020. So what's with all the gloom? If you see no upside, cash in your 34% gains and buy a nice mixed basket of corporate and government bonds AAA quality and churn 4-5% per annum until your much desired retirement.
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