Moody’s says Irish banks’ outlook ‘positive’ amid market turmoil

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Ratings agency expects Irish GDP to grow by 4.5% this year and by 4% in 2024

“We expect sound operating conditions as real GDP grows strongly, inflation subsides and unemployment stays at historical lows,” Moody’s said in a report on Irish banks. “Asset risk will remain stable overall, with loan book growth, the acquisition of performing loans, and low unemployment offsetting a moderate deterioration in loan quality.”

It said that Irish banks’ loan loss reserves will allow them to absorb an expected “slight” increase in problems loans across the industry from 3.4 per cent of gross loans at the end of last year.

 

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