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Dec 17 2021, 08:05 GMT
permanent tsb Group
Agreement with NatWest confirms positive catalyst
- Sectors : Banks
- Companies : permanent tsb Group
DAVY VIEW
The binding agreement with NatWest to acquire the performing non-tracker mortgages, micro-SME and asset finance business bookends a substantial year of progress for PTSB. The transaction benefits are broadly in line with our expectations with lower dilution for existing shareholders. Together with organic growth, we see the transaction as a key catalyst to lifting PTSB’s returns by building a bank with more appropriate scale.
