Allied Irish Banks keeps investors’ faith
Allied Irish Banks (ALBK) €5.64
Gains to date: 12.8%
Original entry point: Buy at €5.00, 26 October
Allied Irish Banks (ALBK) has emerged from the Irish banking collapse of 2008 and looks set to be one of most enduring turnaround stories from that period.
The bank’s third quarter to 30 September update makes for pleasant reading. It has increased its common equity tier one (CET1) ratio to 17.6%, up 2.3% from its position in December 2016. This increases the bank’s ability to withstand economic shocks.
Allied Irish reports that economic conditions in Ireland remain positive, with GDP growth in 2017 standing at around 4.5%.