Permanent TSB Group Holdings' net interest income up 71%

📆 3/20/2024 2:53 PM
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Permanent TSB Group Holdings will outline plans later this year on resuming dividend payments for the first time since 2008, the bank said today after reporting a near four-fold rise in full-year underlying profit.

PTSB has been transformed into a much larger player in the last year after buying €6.75 billion of loans from Ulster Bank as it left the Irish market, while it also benefited from the exit of KBC Bank Ireland.

Its underlying profit jumped to €166m from €45m after the Ulster Bank transaction added gross interest income of €170m last year. PTSB expects 2024 net interest income to be broadly in line with last year and flagged a mid-single digit increase in 2024 operating costs due to the impacts of inflation, business growth and investment.

PTSB said its customer deposits for the year stood at €23 billion, an increase of about 6% on an annual basis. PTSB expects 2024 net interest income to be broadly in line with last year and flagged a mid-single digit increase in 2024 operating costs due to the impacts of inflation, business growth and investment.

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