permanent tsb Group

Q1 in line with expectations

  • Sectors : Banks
  • Companies : permanent tsb Group

Ratings and price correct at time of issue.

  • permanent tsb Group

    Closing Price: 148c

  • RATING 04/02/21

  • PREVIOUS RATING 06/03/19

    NEUTRAL

Person's Name

Diarmaid Sheridan

Analyst

DAVY VIEW

PTSB’s Q1 trading update is in line with expectations. While net lending is modestly lower, the roll-out of new products and changes to the existing line-up should support recovery from here and should also be seen in the context of a 40% increase in customer lending since Q3 2022. All-in, we do not anticipate any material changes to our forecasts, with capital trending higher in Q1 and management also reiterating full year guidance.

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May 8 2024, 07:10 IST/BST

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