PTSB net interest income rises 93% following ECB decisions

The bank has observed some customers maturing from a fixed rate are now opting for a variable rate “for the first time in a number of years”.

The bank said new mortgage lending across fixed products accounted for 97% of total new mortgage agreements Pic:Andres Poveda

PTSB, formerly Permanent TSB, profits will be boosted this year after it posted a 93% year-on-year increase in net interest income, driven by tightening monetary policy. 

In a statement on PTSB performance this year to September, the bank also posted a 115% rise in gross income following the migration of the remaining Ulster Bank Mortgages, Micro-SME and Asset Finance portfolios.