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Nov 6 2019, 07:20 GMT
permanent tsb Group
Strong commercial progress in Q3
- Sectors : Banks
- Companies : permanent tsb Group
DAVY VIEW
PTSB recorded a very strong Q3 performance, consolidating the progress that has been achieved from a commercial perspective over the past 18 months. This complements the capital-accretive non-performing exposure (NPE) reductions and inaugural MREL issuance. The investment programme continues and will, in time, provide the base for lower costs – of which further detail is expected to be provided with the strategic update at FY 2019 results. We revise our forecasts to incorporate the stronger mortgage lending, resulting in a 9% and 20% increase respectively to 2020 and 2021 pre-provision profit.
