PTSB has been transformed into a much larger player in the last year after buying €6.75 billion of loans from Ulster Bank as it left the Irish market, while it also benefited from the exit of KBC Bank Ireland.
Its underlying profit jumped to €166m from €45m after the Ulster Bank transaction added gross interest income of €170m last year. PTSB expects 2024 net interest income to be broadly in line with last year and flagged a mid-single digit increase in 2024 operating costs due to the impacts of inflation, business growth and investment.
PTSB said its customer deposits for the year stood at €23 billion, an increase of about 6% on an annual basis. PTSB expects 2024 net interest income to be broadly in line with last year and flagged a mid-single digit increase in 2024 operating costs due to the impacts of inflation, business growth and investment.
Source: Loan Digest (loandigest.net)
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