Permanent TSB shares soar even before exit of mortgage rivals Ulster Bank and KBC

AIB has also said it has appointed Jim Pettigrew as its new chair of the board

Permanent TSB chief executive Eamonn Crowley said the NatWest talks continue with the aim of making them legally binding. 

Shares in Permanent TSB have now climbed 81% since the start of the year even before the formal exit of two of its major banking rivals. 

Analysts had predicted that Permanent TSB would emerge as a big winner from the plans of Ulster Bank and KBC Bank to quit banking in the Republic. In an update, Permanent TSB said new mortgage lending had risen sharply to help it secure a greater share of the mortgage market.