Permanent TSB Group Holdings PLC (FRA:IL0A)
€ 1.39 -0.03 (-2.11%) Market Cap: 742.00 Mil Enterprise Value: 601.00 Mil PE Ratio: 30.22 PB Ratio: 0.31 GF Score: 57/100
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Full Year 2019 Permanent TSB Group Holdings PLC Earnings Call Transcript

Feb 26, 2020 / 09:00AM GMT
Release Date Price: €0.896 (+0.34%)
Jeremy John Masding
Permanent TSB Group Holdings plc - Group CEO & Executive Director

Good morning. Welcome to our 2019 full year results presentation. Perhaps I could ask you to turn to Slide 4. I'm going to give a short presentation on the progress the bank has made in 2019, after which our CFO, Eamonn Crowley, will provide a more detailed review of our financial performance. And then Eamonn and I will be happy to take your questions after that.

The bank is reporting a profit before tax of EUR 42 million and an underlying profit of EUR 74 million. The outturn represents a better quality of earnings, the ongoing strength of the franchise and our ability to compete in the Irish retail and SME markets. Indeed, with many of the legacy issues now behind us, management has a strong balance sheet foundation for developing the franchise. We have a clear management agenda and the emerging capability to compete strongly in the Irish retail and SME market.

In spite of significant headwinds, notably lower for longer interest rates, high RWA intensity and a lack of balance sheet scale and a

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