RE: KBC News16 Apr 2021 13:24
This is a potentially very accretive deal for BOI. From a market perspective, we are
seeing more structural change in Ireland. From a valuation perspective, for BOI,
the deal adds c.18% to earnings (back of envelope, acknowledged) and the capital
ratio is c.5% lower, so the net benefit is potentially early double-digit gains in our
valuation. That’s clearly material and looks like a really good outcome.