PTSB shares rise 4% as it predicts growth in the mortgage market 

Chief executive also noted the chronic lack of homes on the market and said 'we do see a need for more supply'

In its half year results, the bank said competitive pricing during the latter stage of the first half of the year has contributed to a 'strong' pipeline of mortgage activity for the second half of the year.

PTSB shares surged more than 4% in late afternoon trading as the lender gave an optimistic outlook for the rest of the year following the disposal of non-performing loans while it also predicted increased activity in the mortgage market.

In its half year results, the bank said competitive pricing during the latter stage of the first half of the year has contributed to a “strong” pipeline of mortgage activity for the second half of the year especially with fewer competitors in the market since Ulster Bank and KBC exited the Republic.