PTSB shares plunge 7% after reporting slow deposit growth

The bank said customer deposits reached almost €23bn by the end of September.

PTSB chief executive Eamonn Crowley remained positive about the bank’s performance for the full year though and said PTSB’s capital and liquidity positions are 'strong'.

PTSB, formerly Permanent TSB, shares plunged more than 7% after it posted an update that showed growth in deposit and new mortgage lending has slowed.

In an interim statement, the banks said the overall deposit market grew by 2.6% this year despite inflation and a higher interest rate environment.