Bank of Ireland - Expands wealth management and capital markets offerings

Davy Research
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The acquisition of Davy, Ireland’s leading provider of wealth management and capital markets services, is in line with Bank of Ireland’s (BOI) stated strategy to increase fee income and expand its customer offerings for both services across its existing leading platforms in these areas. The acquisition, which is expected to close in 2022, equates to 13x earnings with c.80bps of capital invested (internally financed), and is anticipated to be accretive in the first full year of ownership.