Permanent TSB Group (PTSB) Q1 2026 TU earnings summary

Executive summary

• Achieved 10% revenue growth in Q1 2026, driven by higher margins and a larger balance sheet.

• Cost/income ratio improved to 72%, down 4 percentage points year-over-year.

• Asset quality remains robust with no impairment charge and stable non-performing loans at 1.4% of gross loans.

• Announced a recommended offer by BAWAG Group for the entire share capital, supporting future growth.

Financial highlights

• Total operating income up 10% year-over-year; underlying growth 6%.

• Net interest margin rose to 2.13%, up 10bps; underlying NIM at 2.11%.

• Net interest income increased 9% year-over-year.

• Net fees and commissions up 25%, but flat after adjusting for earlier income recognition.

• No impairment charge recorded in Q1; asset quality stable.

Outlook and guidance

• Guidance for the year remains in line with prior communications.

• Expectation for NIM to exceed 2.10% for the full year.

• Mortgage market share outlook of approximately 20% for 2026.