PTSB sees an increase in underlying profit despite falls in interest income last year

Underlying profit before tax increased to €180m during 2024 with total income reaching €672m - up 1% year-on-year.

Despite seeing a reduction in overall lending and net interest income over the course of 2024, PTSB has reported an 8% increase in underlying profit to €180m for the year as bank deposits grew by €1.2bn, the company’s latest results show.

According to the bank, underlying profit before tax increased to €180m during 2024 with total income reaching €672m - up 1% year-on-year. However, net interest income for the bank was 1% lower at €612m due to a reduction in its net interest margin (NIM).