KBRA Comments on Irish Banks’ 2018 Results
DUBLIN--(BUSINESS WIRE)--Mar 4, 2019--Kroll Bond Rating Agency Europe Limited (KBRA) comments on Irish banks’ 2018 earnings results. The banks—Bank of Ireland, Allied Irish Banks plc, Ulster Bank Ireland DAC, Permanent TSB and KBC Bank Ireland plc—delivered a sound performance in 2018, with stable or improved core profitability, healthier asset quality, strong capital ratios and sound funding profiles. Despite the uncertainties around Brexit, growth of new loan portfolios continues to be strong, but almost all banks reported gross loan contraction in 2018 as the reduction of their nonperforming loans (NPLs) outweighed their new lending. Assuming that a disorderly hard Brexit is avoided, KBRA expects the larger banks to witness slight gross loan growth in the year ahead, while smaller banks will face further contraction as the institutions remain under increased regulatory pressure to reduce their stocks of NPLs.
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Related Publications: (available at www.kbra.com )
- Republic of Ireland Rating Report
- I rish Banks’ 1H18 Results Reflect Improving Asset Quality and Core Earnings Stability
- Irish Banks: Continued Recovery Despite Headwinds
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About KBRA and KBRA Europe
KBRA is a full service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus, is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider, and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.
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CONTACT: Analytical Contacts:
Joanna Drobnik, CFA, Director, Financial Institutions
+353 1 669 2680
Joe Scott, Managing Director, Financial Institutions
+1 (646) 731-2438
KEYWORD: UNITED STATES EUROPE NORTH AMERICA NEW YORK IRELAND
INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE
SOURCE: Kroll Bond Rating Agency
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PUB: 03/04/2019 11:16 AM/DISC: 03/04/2019 11:16 AM