PTSB eyes cost cuts as interest rates fall faster than expected
PTSB’s share of new Irish mortgage lending rose to 16.3% in the third quarter from 13.5% for the first six months of the year
PTSB’s share of new Irish mortgage lending rose to 16.3% in the third quarter from 13.5% for the first six months of the year
Bank reports a ‘strong pipeline of activity’ as profits in first half treble to €75m, beating expectations
Rise in net interest income helps bank to 9% increase in total operating income in first quarter of the year
Unite submitted a pay claim for 13% for 2024 last year after the lender returned to post-Covid profitability
Next task will be to reduce capital it holds against new loans
Bank says that some mortgage customers coming off fixed-rate periods are now opting for variable rates for the first time in years
Retention of talent cited as key issue as overseas lenders and fintech disrupt market
Bank agrees a 6.5% pay increase over two years for employees, amid soaring inflation
Bank likely to invest more than €5m in sponsorship for the Paris 2024 games
Bank also joins the Government’s Brexit Impact Loan Scheme to lend to firms
Irish lender needs €400m of fresh capital to support its purchase of Ulster Bank loans
Head of risk governance and strategy Declan Norgrove steps into role immediately
Bank increases share of new mortgage market
Despite the grumbles, pay restrictions look set to remain in place for the foreseeable
Lack of supply and undeveloped rental market key factors in house price growth
Agenda: After existential threats, Permanent TSB is focused on growing its income base
Bank’s net loss narrows in first half as loan impairment charge falls to €3m from €75m a year earlier
Joe Brennan: Ulster Bank deal puts a fair wind behind embattled lender
Sources say debt expected to be bought at discount due to low returns
PTSB aims to use ‘badwill’ accounting operation to reduce need for fresh cash for deal
Discussions have not reached stage of a memorandum of understanding
Exiting holdings in the banks has been a long-stated objective
PTSB CEO says it will approach State and stock market for cash to seal deal if necessary
Home loans up in second half as share of new mortgages in Republic tops 15%, says bank
AIB and PTSB shares soar as they eye parts of Ulster Ban k’s €20 billion loan boo k
Financial Services Union says bank staff must have option to move with their work
State holds majority share in both banks and may see PTSB as ‘third force’
Parent group NatWest looking to wind down Irish unit as part of strategic review
Yet another review likely to decide if lender has a future in Irish market
Remote working seen as another potential obstacle to career progression research finds
Lender has been dogged consistently by the lowest level of profitability in Irish banking
AIB, Bank of Ireland, Ulster Bank and KBC Ireland also reducing numbers
Bank continues to monitor impact of Covid-19 on borrowers
Buyer of the mortgages, Citigroup, will refinance the buy-to-let loans on bond market
Agenda: ‘Unemployment is a lagging indicator in any recession because businesses will hang on for as long as they can before failing’
Paul McCann steps in as bank continues to search for permanent figure for position
Director of operations and runner-up in CEO search Shane O’Sullivan is leaving the bank
US stocks also bounce back on Wednesday, shaking off stimulus concerns
Results week has revealed huge loan-loss provisions among financials
Move follows bank’s decision to charge interest on pension firms’ cash desposits.
Lender also narrows gap favouring new borrowers over existing customers
B of I says it is ‘important’ to charge interest during payment breaks over Covid-19 period
The economic shock has thrown the problems facing Eamonn Crowley into sharp focus
Eamonn Crowley takes over as lender battles with fallout from coronavirus pandemic
First-quarter trading statements come against backdrop of unprecedented uncertainties
Internal candidate must pass second Central Bank review before confirmation in job
Lenders will look increasingly to pull whatever levers they can to boost returns
New chief executive not expected to be picked before bank reports 2019 results
Four of the State’s five surviving retail banks are working on a major cost-cutting drive
Analysis: Up to €550 million in problem loans still to be dealt with
Ken Bowles, Eamonn Crowley, Les Wood and Marie Joyce are the four contenders
Final offers for portfolio of PTSB non-performing mortgages due by July 19th
Secondary buyers not proven to manage loans more aggressively, banks chief says
Institution has increased pressure on lenders with high levels of non-performing loans
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