PTSB has reported higher income for the third quarter of this year and said it remains confident about its prospects for the rest of the year.
In a trading update for the three months to the end of September, PTSB said it continued to see strong momentum with total operating income up 7%.
The bank, which agreed earlier this year to be bought by Austrian bank BAWAG, said that total gross customer loans rose to €23.4 billion, up €0.8 billion year to date and over 4% on an annual basis.
The lender said the increase was driven by its core mortgage book which gained momentum as the year has progressed. New mortgage lending rose by 10% and PTSB said its share of new mortgage business was about 20% for the first nine months of 2026.
It added that it has a strong pipeline heading into the fourth quarter.
Meanwhile, new Business Banking Lending (SME and Asset Finance) rose up 16% in the three month period.
Today’s trading statement also reports that customer deposits rose to €25.8 billion by the end of September, a 2% increase on the same time last year.
“A loan to deposit ratio of 89% and liquidity coverage ratio of 214% at end September 2026, provide the bank with a strong liquidity position and a secure funding source for future growth in our loan book,” it added.
PTSB said its total operating costs reduced 2% in the first nine months while regulatory charges were unchanged. Its cost/income ratio was 70% down from 77% in the previous period, it added.
The bank said its net interest income for the first nine months increased 9%, reflecting both higher margins and higher average interest earning assets.
Its net interest margin (NIM) for the period was 2.14%, up 13 basis points.
“The increase in NIM reflects the impact of a lower average cost of deposits, while the two 0.25% increases in ECB rates since June also contributed positively in the third quarter,” PTSB said.
Eamonn Crowley, PTSB’s chief executive, said the bank’s strategy is delivering, with growth in its loan book running at over 4% while its core mortgage business has gained momentum as the year has progressed.
“I am particularly pleased with the contribution coming from our Business Banking and Personal Lending segments which are both markets where we have huge potential,” the CEO said.
“The Irish economy continues to perform well notwithstanding heightened global uncertainty and volatility, and year to date we have recorded a modest impairment write-back. Meanwhile our funding and capital positions remain strong and put us in an excellent position to support further growth in economic output,” he said.
“Finally, the bank’s proposed sale to BAWAG is progressing as planned with completion expected in the fourth quarter of 2026 or the first quarter of 2027 subject to court and regulatory approval,” he added.
