Tuesday 6 December 2016

Shane Ross: Want to invest in 'pillar' banks? Trust me, wait

Shane Ross

Published 02/03/2014 | 02:30

WAIT: David Duffy, chief of AIB, where shares are hovering around the 14c mark
WAIT: David Duffy, chief of AIB, where shares are hovering around the 14c mark

SO you missed the property bounce? No bottle. You are beginning to think the unthinkable. You were burnt in the last bank shares bubble back in 2008, but this time is different.

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Persuade yourself. Bank shares are a fraction of their former price. AIB at 14c and even Bank of Ireland at 35c look a 'steal' – a one-way bet. The Government cannot afford to let either of its 'pillar' banks sink into oblivion. Nor will the ECB. They are underwritten, heading for profits in a recovering economy. Fill your boots ...

A word of caution. Wait, at least until tomorrow morning when Bank of Ireland releases its 2013 results.

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