Permanent TSB winning current account war

AFTER a 9% rise in 2005 operating profits, IL&P is poised for another strong year. Banking arm, Permanent TSB, is winning the account war with 67,000 new customers last year.

Free banking backed up a high-profile advertising campaign. It has poached customers from AIB, Ulster Bank, Bank of Ireland and National Irish Bank.

David Went, chief executive of the bank’s parent company Irish Life & Permanent, said despite increasing competition this year, the number of new customers ‘wins’ has continued. Permanent TSB is signing up around 1,400 new customers a week, ahead of its target of 1,200.