permanent tsb Group

Self-help progress constrained by external headwinds

  • Sectors : Banks
  • Companies : permanent tsb Group

Ratings and price correct at time of issue.

  • permanent tsb Group

    Closing Price: 98.1c

  • RATING 06/03/19

  • PREVIOUS RATING 01/08/18



Commercial progress was again evident in H1 2019 with new lending increasing by 22%. However, this is clouded by external factors – the ongoing requirement to reduce non-performing loans (NPLs), the interest rate environment and upcoming debt issuance – all of which present top-line growth challenges against a backdrop of flat costs due to NPL work-outs and investment. We retain our ‘Neutral’ rating with a price target of 140c.

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Sep 2 2019, 07:10 IST/BST