sector update ireland 23 november 2006 irish financials bringing it all together buy the banks absolute share price performance 10 years source datastream key points from our recent series of economic reports on s unique demographic profile and prospects we conclude that listed should achieve superior earnings growth therefore trade a premium to their european peers year date credit has risen in excess 25 projections 2010 show can be maintained at circa 20 per annum see page 4 this is being sustained by strong over population longer term forecasts for labour force households are very supportive 11 bank currently assume domestic loan 2007 falling 15 2008 as margin pressures abate correlate better with volume than when margins were eroded eurozone interest rates greater use wholesale funding 5 costs also managed delivering revenue well increase
