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Aug 2 2023, 07:20 IST/BST
PTSB profitability has grown strongly versus H1 2022, and full year revenue guidance has been upgraded. Our 2023 forecasts are higher than upgraded guidance, and we will likely revise downwards post results. Key highlights are continued strong business momentum via growth in new lending and deposits. Coupled with the execution of the final portfolio acquisitions from Ulster Bank, profitability and returns will increase in the coming years – an outlook not reflected in valuations.