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Mar 18 2025, 07:50 GMT
permanent tsb Group
Post-FY24 model update
- Sectors : Banks
- Companies : permanent tsb Group
DAVY VIEW
PTSB has set out a path to higher returns by 2027. The pathway, which does not include any benefit from lower risk weighted assets (RWAs), is anchored to growth in lending, complemented by lower costs, to achieve a 10% return on CET 1 by 2027. PTSB is strongly capitalised, which will support lending growth and the return of distributions; lower RWAs will complement this further. We retain our €3 price target and ‘Outperform’ rating.
