permanent tsb Group

Positive update on NPL reduction strategy

  • Sectors : Banks
  • Companies : permanent tsb Group

Ratings and price correct at time of issue.

  • permanent tsb Group

    Closing Price: 216c

  • RATING 03/08/17

  • PREVIOUS RATING 03/10/16



We believe the non-performing loan (NPL) update from PTSB should be positively received. PTSB is pursuing a strategy to achieve a reduction to a high-single-digit NPL ratio in the medium term while minimising the impact on its capital base. We believe the commencement of a portfolio sale coincides with strong investor appetite for Irish portfolios, while non-sale reduction techniques demonstrate that PTSB will not be solely reliant on sales to achieve its NPL targets.

Download full report with analyst certification and important disclosures

Feb 14 2018, 07:35 GMT