Banking
Permanent TSB swings from loss to profit of almost €270 million
The lender got a major boost from higher interest rates and buying parts of Ulster Bank’s Irish operations
Permanent TSB has recorded a pre-tax profit of €267 million for 2022, in what it said was an “exceptionally strong” year for the lender.
The bank announced this morning that €222 million of its pre-tax profit arose from exceptional items. This compared to a loss of €21 million in its 2021 financial year.
Permanent TSB said its underlying profit before tax for the year, when exceptional items were stripped out, was €45 million. This was ...