Permanent TSB Group Holdings PLC (OTCPK:ILPMY)

Full Year 2024 Permanent TSB Group Holdings PLC Earnings Call Transcript

Mar 4, 2025 / 09:00 AM GMT

Release Date Price: $1.95

Transcript

Key Points

Positve

Permanent TSB Group Holdings PLC (ILPMY) reported a strong financial performance for 2024, with a reported profit before tax of 159 million, double that of 2023.
The company's customer deposits increased by 5% to 24.1 billion, showing a robust growth trend over the past three years.
The mortgage market share recovered strongly in the second half of 2024, reaching 20.2%, indicating a return to normal levels.
The business banking book grew by 11% to EUR 1.1 billion, with significant growth in SME lending by 28%.
The company has made significant investments in digital transformation, resulting in increased digital channel usage and improved customer experience.

Negative

The mortgage market share for the year was lower than the previous year, indicating some challenges in maintaining market position.
Total operating expenses increased by 5% to 531 million, leading to a deterioration in the cost-income ratio by 8 points to 74%.
Net interest income declined by 1% due to reduced margins, reflecting falling ECB rates and higher deposit costs.
The company faces a less favorable interest rate environment, which may impact revenue growth in the near term.
There is uncertainty regarding the timing and impact of the IRB model review, which could affect capital distribution plans.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PTSB.I - Permanent TSB Group Holdings PLC
Full Year 2024 Permanent TSB Group Holdings PLC Earnings Call
Mar 04, 2025 / 09:00AM GMT

=====================
Presentation
--------------------------------------------------------------------------------
Unidentified_1 [1]
--------------------------------------------------------------------------------
Good morning and welcome to the 2024 annual results presentation.

I'm going to give you an overview of the performance of the bank during 2024 and in a few minutes, our new CFO, Barry D'Arcy will provide more detailed review of our financial performance.

I'll then take you through our refreshed strategy and financial targets, and we'd be happy then to take questions that may arise.

If we turn to slide 4.

We delivered a strong performance in 2024 across our business, supporting customers and communities across the country. Our customer deposits rose 5% to 24.1 billiono and have grown by over 25% in the last three years. Our mortgage market share was 16.4% for the year

Already have an account? Log in

Get the full story

Subscribe Now

	Access to All Earning Calls and Stock Analysis
	30-Year Financial on one screen
	All-in-one Stock Screener with unlimited filters
	Customizable Stock Dashboard
	Real Time Insider Trading Transactions
	8,000+ Institutional investors’ 13F holdings
	Powerful Excel Add-in and Google sheets Add-on
	All data downloadable
	Quick customer support
	And much more...

7-Day Free Trial · Cancel Anytime

Subscription fee may be tax deductible.

Excellent

4.6 out of 5

Trustpilot

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Calculators Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App Newsletters Signup 中文

Education

Financial Glossary Tutorials FAQ Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us Advertise Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.