Ireland · Delayed Price · Currency is EUR Permanent TSB Group Holdings Earnings Call Transcripts
Fiscal Year 2025
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2025 saw record lending, strong deposit growth, and improved cost efficiency, with a return to dividend payments after 18 years. Regulatory approval of new IRB models significantly reduced risk weights, boosting capital and competitiveness. Guidance points to rising returns and continued cost discipline.
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A formal sales process has been launched to seek a new long-term owner, with no current buyer engagement but strong market positioning and government support. Financial results show stable margins, strong loan and deposit growth, and robust capital, with 2028 ROTE targeted at 11%.
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Strong H1 2025 results with 7% deposit growth, 66% increase in new lending, and CET1 at 15.5%. Operating profit fell 17% year-on-year due to lower interest rates, but cost control and capital strength remain robust. Dividend payments targeted for 2026, pending regulatory approval.
Fiscal Year 2024
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Strong 2024 results featured profit before tax doubling, robust deposit and lending growth, and a revitalized digital and business banking franchise. Guidance for 2025 anticipates modest income decline, cost discipline, and resumed dividends, with medium-term targets focused on efficiency and sustainable returns.
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Profit before tax surged to EUR 75 million, driven by higher net interest income and strong asset quality, while operating expenses rose due to business growth and investment. Mortgage and business lending pipelines are strengthening, and a new dividend policy targets a 40% payout over time.