PTSB’s chief executive Eamonn Crowley and its chief financial officer Nicola O’Brien at the announcement of its 2024 interim results.
However, it has since moved to cut rates, resulting in its share edging slightly higher to 13.5 per cent in the second quarter and a “strong pipeline of activity”, PTSB said on Thursday. It comes as the smallest of the three remaining domestic banks in the State is working on reducing the perceived riskiness of its loan book – a legacy of the arrears crisis – in the eyes of regulators on an accounting basis.
The bank’s chief executive, Eamonn Crowley, unveiled its future dividend policy, after regulators moved late last year to lift a shareholder distributions blocker that had been imposed during the financial crisis. PTSB agreed in the middle of July to sell to a portfolio of mainly deep-in-arrears mortgages with a gross value of €348 million to a group comprising US private equity giant Apollo and loan servicing firm Mars Capital.