Permanent TSB Group Holdings PLC (LSE:PTSB)
€ 1.54 0.04 (2.67%) Market Cap: 817.49 Mil Enterprise Value: 2.98 Bil PE Ratio: 13.07 PB Ratio: 0.33 GF Score: 56/100
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Full Year 2020 Permanent TSB Group Holdings PLC Earnings Call Transcript

Mar 03, 2021 / 09:00AM GMT
Release Date Price: €1.1 (+1.38%)
Eamonn Crowley
Permanent TSB Group Holdings plc - CEO & Executive Director

Good morning and welcome to our 2020 Year-End Results Presentation. I'm going to give you a short presentation in the progress that the bank has made during 2020, and then our Interim CFO, Paul McCann will provide a more detailed review of the financial performance, and then Paul and I will be happy to take questions at the end.

So if we just turn to Slide 4 of the presentation. You'll see that 2020, and we all understand this, has been an unprecedented year but where customers and colleague experience have changed so profoundly. But I'm pleased to say that business performance in 2020 has been resilient, and in particular, in mortgage lending.

And if we look down along the various items, if we look at customers, you can see that our total new lending was EUR 1.4 billion for the year. And this is a reduction of 15% year-on-year. And you might recall, in the earlier part of the year, we were saying that our lending could be as low as 30% or 40% lower, but indeed with a significant recovery in the second half,

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