Bank shares could rise if capital is forthcoming

IRISH bank shares could make strong gains in the period ahead provided they can raise the fresh capital they need to shore up their badly damaged balance sheets.

Assuming outside capital is forthcoming Bank of Ireland’s share price could rise by 48% and AIB by over 60%, according to a new analysis by Davy Stockbrokers.

Those projections are contained in a 70 page analysis on the future outlook for the two main banks form Davy Research.