PTSB proposes first dividend since 2008 following 'transformational' year

The bank said its mortgage lending market share now stands at around 20%

Announcing PTSB’s 2025 Annual Results were, right, PTSB Chief Executive Officer, Eamonn Crowley, and PTSB Chief Financial Officer, Barry D’Arcy.

PTSB has welcomed a "transformational" year with the bank's mortgage lending market share rising to around 20%, the lender said on Thursday.

Publishing its annual results for 2025, CEO Eamonn Crowley announced a proposed final dividend, the lender's first since 2008, which he said "reflects the scale of our transformation and the renewed strength of PTSB."

However, the recommended final dividend comes in at only €10m, or 1.835 cents per share, marking it as a largely symbolic move.

The lender recorded an underlying pre-tax profit of €175m, which was slightly below the €180m recorded in 2024. This was underpinned by a 4% fall in net interest income, the difference between the rates at which the bank borrows and the rates at which it lends to customers, to €590m, resulting from a lower interest rate environment. 

Its net interest margin (NIM) was 2.03% for 2025, down from 2.2% in the previous year, which it said is consistent with its guidance of >2% for the year.

Meanwhile, the bank's deposits grew by 6%, with its mortgage book growing by over 3%. It also noted a 9% rise in its business banking portfolio. Revenues returned to growth in the second half of the year as interest rates stabilised.

The bank's total gross loans rose by 4% on an underlying basis to €22.6bn, with total new lending of €3.4bn, marking a rise of 31%. 

Meanwhile, new mortgage lending rose by just under 40% to €2.9bn, PTSB said. 

“2025 was a transformational year for PTSB," said Mr Crowley.

"The Bank’s balance sheet continued to grow as customers responded to the strength of our brand and product offering."

In January, the Central Bank approved PTSB's application to use its new Internal Ratings Based (IRB) approach Mortgage Models,

Speaking on this, Mr Crowley added: "The recent approval of our IRB mortgage models marked a major strategic milestone, significantly enhancing our competitiveness and enabling sustainable business growth now and into the future. 

"I am also delighted to announce a proposed final dividend, the Bank’s first since 2008, which reflects the scale of our transformation and the renewed strength of PTSB.”

The Bank said it has entered 2026 with a "strong pipeline of new business," and pointed to a recovery in its net interest margin.

Last October, PTSB's board confirmed the start of a formal sale process, saying it is “now in the best interests” of the lender to seek a long-term buyer.

Mr Crowley did not offer any commentary on the sales process in the bank's annual results statement.

Looking forward, the lender said it was considering the impact of the new IRB models on its distribution capacity, but did not plan to recommend further distributions to shareholders in light of the ongoing sales process. The State currently owns 57% of PTSB.