DAVY VIEW

There was a strong rebound in activity levels in Q3 with a good pipeline in place for the remainder of 2020 and into 2021, significant reductions in payment breaks and a capital beat. A cautious approach continues to be taken on asset quality, but that is more than offset with the capital strength post the completion of the portfolio sale announced last week. PTSB has significant capital and liquidity resources to pursue opportunities in its core Irish markets.