Banking
PTSB profits jump to €166m as bank holds off on shareholder payout
Lender’s net interest income nearly doubled to €620m amid still high mortgage rates
PTSB’s pre-tax profits jumped by more than €100 million in 2023, as the lender continued to benefit from higher-than-normal mortgage interest rates.
Announcing its full-year results for 2023 on Thursday morning, the lender reported underlying tax before profit – meaning profit before both tax and exceptional items – of €166 million. That was up from €45 million the year before.
Net interest income – the difference between what banks pay for deposits and what they earn from loans – was €620 million, nearly double the €362 million PTSB reported in its 2022 financial year. Its total income was €668 million.
