permanent tsb Group

Confirms cost programme

  • Sectors : Banks
  • Companies : permanent tsb Group

Ratings and price correct at time of issue.

  • permanent tsb Group

    Closing Price: 51.0c

  • RATING 06/03/19

  • PREVIOUS RATING 01/08/18

    OUTPERFORM

DAVY VIEW

The reduction in full-time equivalent (FTE) follows significant investment in the last number of years, providing the basis for a more efficient organisation. The scale of staff reduction implies some upside to our forecasts in 2022. Following the recent successful deleveraging of the interest-only buy-to-let portfolio, moves to reduce costs will be welcomed.

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Nov 9 2020, 07:20 GMT

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