Stock Take

Cashing out – Irish banks set to unveil mega returns for shareholders as €5.3bn profits predicted

The rapid hike in interest rates over the last two years has super-charged the profits of AIB and Bank of Ireland to record levels

The three main banks, AIB, Bank of Ireland and PTSB, are forecast to post operating profits of more than €5.3 billion

Over recent weeks, analysts in both Davy and Goodbody stockbrokers have issued detailed reports on the current buoyancy of the Irish banking sector, which has been super-charged by the rapid hike in interest rates over the last two years.

The title of Davy’s most recent report on the sector was ‘Irish Banks: Primed to Deliver’, which is almost an understatement. Over the next two weeks, the main Irish banks are all set to announce bumper ...