Bank Of Ireland Share Discussion Threads

[joemillion] 20/2/2015 23:16

Kemorkid, the board voluntarily delisted IRE on the 12th February.

[kemorkid] 17/2/2015 17:35

No dealing across the pond today???

[gabyg] 13/2/2015 16:43

The 2013 results were released on the 3rd of March Kk, so that's the time frame alright , share price moving in the right direction today

[kemorkid] 13/2/2015 16:18

And they are going to be good!!!!!!!!!!!!!!!!!!!!!!!!!!!

[kemorkid] 13/2/2015 10:27

I think you wrong gabyg but I stand to be corrected in that results are out 28th this month.

[abdiel1812] 05/2/2015 12:03

Thanks gabyg

[gabyg] 05/2/2015 11:02

Cheers Abdiel, upcoming events from BKIR
03/27/15 FY 2014 Earnings Release - Preliminary
07/31/15 Interim 2015 Earnings Release (Projected)
02/29/16 FY 2015 Earnings Release (Projected)
07/29/16 Interim 2016 Earnings Release (Projected)

[abdiel1812] 05/2/2015 10:36

@benchmark , not about BKIR, just broker notes in general, mostly after the fact, biased - even paid for! Just go read some.
Obviously some are good but I wouldn't buy or sell on the back of one, though they can be useful for background info, - and or an indication what the market feels.
but back to original point anyone know results day? Cant find on IR

@gabyg hxxp://www.thecsuite.co.uk/CFO/index.php/finance/239-bank-of-ireland-shares-ire-34454

[gabyg] 05/2/2015 10:07

Has anybody a link to the buy note?

[benchmark] 04/2/2015 20:33

Abdie1812 - you obviously have reasons for your lack of faith. Care to share it with others?

[red army] 04/2/2015 20:27

Hardly a conviction at 31c only two points away.

[abdiel1812] 04/2/2015 18:49

Encouraging buy note, but then again don't hold that much faith in them, but might help price
When are the results due?

[korkikorki] 03/2/2015 17:49

Good (very detailed) BUY note from Deutsche Bank today.

Moving from HOLD with a Price Target 31 cents.

[muckshifter] 01/2/2015 13:36

Perhaps it's a sign of the times indicating how most people think these days, but I don't think this is all about mortgages, negative equity, etc. What happened in Ireland was to me similar to what has happened here in the UK a few times because of the mania over house prices, but much more pronounced.

I believe that multinationals, and Irish businesses will now need to borrow to grow in an environment where Ireland has taken the German medicine and is in convalescence. Can't see the banking competition in Ireland being very savage when, as you say, it's mostly still on its knees.

And in terms of the housing market, I would make a few points.
Firstly, BOI have been taking huge write offs for years, initially probably on a wing and a prayer because things were so bad they didn't want to frighten the horses, and knew they would have to add to provisions later. But as they worked their way through the disaster over successive years, their ability to cope with the big write offs increased, and the amounts required were dealt with, taking on, no doubt, an ever more realistic appraisal of the situation. So I believe they have probably broken the back of the problem. My assumption is that the most vulnerable borrowers have lost their homes (or in many cases investments in property), with many of those still left in negative equity prepared to patiently sit the situation out, provided of course that there isn't a drastic rise in interest rates.

This situation reminds me very much of National Home Loans in the UK. In about 1995, iirc, I studied the company with a view to buying shares. At the time there was not a single broker commenting on, or analysing, the company or its shares, and press articles were very negative, as the company had been on the verge of bankruptcy because of the severe UK housing crash for a few years. But reading the preceding few years of annual reports, you could see a similar pattern of write offs etc. to that suggested in the paragraph above. Looking at them carefully, I decided that the time was right to buy in with a slow housing recovery just about visible. Within three months, iirc, they reported a distinct turnaround in their next annual results and the shares doubled within a week or so. The pattern of behaviour of those caught out by the housing crash also seemed similar to the above, imho. National Home Loans never looked back, and is now known as Paragon Mortgages.

So my view is that BOI will have the pick of industrial / commercial lending in a fast growing Ireland, with at some stage in the not too distant future, write offs on property loans drying up completely and a steadily improving arrears situation, ie. those holding a mortgage in arrears become fearful of losing their property just as it's no longer looking a completely lost cause. Then in due course mortgage lending should return to normal, hopefully with far better political, and financial authority control to prevent a similar disaster in future.
Regards.
PS. I still think this current drop is related to Euro weakness, perhaps further American selling?
PPS. On checking I find that the last RNS about a reduction in shareholding is about Euro Pacific Growth Fund, which is a US based fund, I believe, and they still held 1.6 billion shares after the reduction, so plenty more selling by them is possible.

[thecynical1] 30/1/2015 16:27

and given the present interest rates, why do you think Ireland is going to be a driver of profits? Negative equity is imo going to strangle the real economy ( not the part represented by multinational ) for some time to come. The cap on mortgage lending is also not exactly going to help and given the present interest rate situation, I am still not convinced that this has turned the corner even if some brokers are very bullish at the moment. Just my opinion for what it is worth.

Don't get me wrong, I think BKIR will be THE retail bank in Ireland in future and will probably get taken out by one of Europe's big 4 when the consolidation of the banking sector really gets going. AIB is on its knees and the Irish Permanent or whatever they call themselves nowadays has a lot of baggage to deal with.

I will continue to watch but the price action today doesn't inspire me to get in here at this point in time. it looks to me like the seller is still out there and was happy to unload more into the buying "frenzy" yesterday. I would like to see whether it retests 25p before buying in.

Anybody care to share their thoughts on the above?

Have a good weekend all!

[red army] 30/1/2015 14:56

In Ireland they recently announced that 20% deposit required for mortgages which puts the damper on bank loaning

[abuela2] 30/1/2015 14:46

Ireland is coming out of it.
This has to be a great buy over
the longer term

[muckshifter] 30/1/2015 14:40

Don't agree with you there thecynical1. I think serious recovery in Ireland, pushed on by changes in the Euro area both in terms of the political will to push growth and the weakness of the Euro over the next couple of years, will be good for BOI, and their just about unique position as the only Irish bank in reasonable health will serve them well and increase their attraction to both investors and, in due course (say 3 years from now if all goes well in Ireland) perhaps a predator.

But, you may be right and I may be wrong, who knows?
Regards.

[thecynical1] 30/1/2015 14:26

muckshifter......the proposed developments in the UK ( collaboration with the Post Office to offer banking services ) will proabably do more for BKIR than any change in the Irish economy.....

[thecynical1] 29/1/2015 07:33

Kemor.....it appears to be in a downwards trend! : )

Technicals seem to be pointing to a further decline.........wonder where it will stop....thoughts anyone? 27 was a support level....where is the next one?

[benchmark] 28/1/2015 23:19

So? Brenda Kelly - what degree of analytical expertise are we seeing here?