6th Nov 2019 10:51
(Alliance News) - Permanent TSB Group Holdings PLC said on Wednesday its performance continues to "trend in line" with market expectations.
The lender said its total new lending volumes increased 19% year-on-year to EUR1.2 billion, supporting the bank's performing loan book growth in the third quarter of 2019.
The company's non-performing loans reduced by 35% to EUR1.1 billion in September, from EUR1.7 billion in June, following the sale of EUR500 million of non-performing loans.
New mortgage lending grew 17% year-on-year in the competitive mortgage market, Permanent TSB said.
"Both Moody's and DBRS have upgraded the bank's credit ratings in 2019, representing significant progress; we have now returned to Investment Grade status for the first time since 2011," the company said.
Permanent TSB shares were up untraded in London at 1.12 pence each on Wednesday.
By Loreta Juodagalvyte; [email protected]
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