Permanent Tsb Group Holdings Plc · EURONEXT:PTSB
Permanent Tsb — Debt Investor Presentation (September 2025)
43 slides from Permanent Tsb's debt investor presentation, Sep 25, 2025
Slide 1: Investor Presentation Green Tier 2 New Issue & Tender
September 2025 Investor Presentation Green Tier 2 New Issue & Tender
Slide 2: Forward Looking Statements
Forward Looking Statements This document contains forward-looking statements with respect to certain of the Permanent TSB Group Holdings plc’s (the ‘Bank’) intentions, beliefs, current goals and expectations concerning, among other things, the Bank’s operational results, financial condition, perform
Slide 3: Contents
Contents 1 2 3 4 5 Financial Strategy & Medium- ESG, Business Update Appendix Performance Term Outlook Sustainability & Green Bonds 3
Slide 4: Who Are PTSB
Who Are PTSB Ireland’s Challenger Bank PTSB’s 98 Branch Network in Communities Across the Country Overview €21.77bn €1.29bn €1.2bn Total Performing New Mortgage Business Banking Loan Book Lending Book HY25 HY25 HY25 €25.2bn c.12% 2.02% Customer Retail Deposit Net-Interest Deposits Market Share Margi
Slide 5: PTSB – Ireland's Challenger Bank
PTSB – Ireland’s Challenger Bank Prime position to provide much-needed competition in the Irish market • Ireland, the fastest growing economy in Europe. • Excellent demographics and public finances. • End of Irish deleveraging phase. • Significant undersupply of homes. Highly Attractive Market • Hig
Slide 6: Our Operating Environment
Our Operating Environment Ireland Overview PTSB’s 98 Branch Network Across the Country 5.3m 2.9m 4.0% Total Population Labour Force Unemployment April 2024 Q1 2025 June 2025 28.5% Population in Dublin 3.5% Increase YoY €12.6bn €165bn €4.4bn Mortgage Household SME Market Deposits Market (new lending
Slide 7: H1 2025 Highlights
H1 2025 Highlights Business +7% +3% +14% Performance +€1.6bn YoY +€0.6bn YoY +€0.2bn YoY Deposit Growth Mortgage Loan Business Banking Book Book1 Financial €322m €271m €51m Performance -4% YoY -1% YoY -17% YoY Total Income Total Operating Costs Operating Profit2 Balance Sheet 15.5% Submitted 86% +0.
Slide 8: New Lending up 66% in H1
New Lending up 66% in H1 Total New Lending (€bn1) New Mortgage Lending (€bn1) & Market Share2 (%) 1.6 13.5% >20% +66% 0.1 +84% 0.2 1.0 0.1 0.2 1.3 1.3 0.7 0.7 H1'24 H1'25 H1'24 H1'25 Mortgage Business Banking Personal Term New Personal Term Lending (€m1) New Business Banking Lending (€m1) -6% 180 +2
Slide 9: Irish Economic Picture Remains Positive
Irish Economic Picture Remains Positive Labour Market1 (%) Household Debt2 180 106% 165 120% 160 5.3% 100% 4.8% 140 4.5% 4.2% 120 109 80% 3.5% 97 91 66% 100 60% 2.2% 80 1.9% 2.0% 60 40% 40 20% 20 0 0% 2023 2024 2025e 2026e 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Unemployment Rate
Slide 10: Investment Grade Ratings with Moody's & Fitch
Investment Grade Ratings with Moody’s & Fitch Moody’s Long-term Fitch Long-term Aaa AAA Current • Permanent TSB (OpCo Senior): A1 / Stable • Permanent TSB (OpCo Senior): BBB+ / Stable Ratings Aa1 AA+ Outlook Outlook • Permanent TSB Group Holdings (HoldCo • Permanent TSB Group Holdings (HoldCo Aa2 AA
Slide 11: Debt Capital Markets Issuance Activity
Debt Capital Markets Issuance Activity PTSB Issuance Journey €500m €2,275m HoldCo Senior €650m Key Messages HoldCo • Strategic initiative to optimise capital stack over the coming years. Senior HoldCo • MREL ratio of 36.9% vs. 2025 requirement of 28.2%. €500m Senior • Fitch and Moody's now at invest
Slide 12: Contents
Contents 1 2 3 4 5 Financial Strategy & Medium- ESG, Business Update Appendix Performance Term Outlook Sustainability & Green Bonds 12
Slide 13: Income Statement – Underlying Profit €51m
Income Statement – Underlying Profit €51m Income Statement (€m) H1’25 H1’24 YoY % Key Messages Net Interest Income 288 311 (7%) • Total Operating Income €322m, 4% lower. Non-Interest Income 34 25 +39% • Total Operating Expenses €271m, 1% lower. Operating Income 322 336 (4%) • Regulatory Charges redu
Slide 14: Net Interest Income €288m, 7% lower
Net Interest Income €288m, 7% lower Net Interest Income Movement1 (€m) Key Messages NIM% • Increased funding costs from larger term deposit balances the main negative driver behind the fall in NII. 2.27% 2.02% • Hedging gain on our MTNs and Tier 2 instruments provided an offsetting benefit, reducing
Slide 15: Lending Income – Residential Mortgages
Lending Income – Residential Mortgages Performing Mortgage Book1 by Product (€bn) 25.0 19.3 19.7 19.9 20.0 2.7 2.5 2.3 15.0 3.3 3.6 3.4 Key Messages 10.0 • Mortgage income fell marginally relative to H1 2024, as rate 5.0 13.3 13.6 14.2 pressures outweighed higher balances. - • Yield on flow (new to
Slide 16: Net Fees and Commissions €31 million
Net Fees and Commissions €31 million Net Fees and Commissions (€m) Key Messages 32 31 • Fees and commission are earned from current account and credit card operation, home (Allianz), life insurance (Irish Life) 4 4 sales and investment products. 23 • H1’25 income boosted by earlier recognition of a
Slide 17: Operating Expenses – In Line with Expectations
Operating Expenses – In Line with Expectations H1’25 H1’24 YoY Key Messages Cost Base Analysis €m €m % • Total Operating Costs €271m, 1% lower. Staff Costs1 119 116 +3% • Regulatory Charges reduced to €25m. Other Costs 83 90 (7%) Total Addressable Costs 202 206 (2%) • Underlying Operating Costs in l
Slide 18: Nil Impairment Charge in H1
Nil Impairment Charge in H1 Impairment Release/(Charge) (€m) H1’25 FY’24 H1’24 Key Messages ECL stock movement 4 34 15 • Nil impairment charge recognised in H1. Other P&L Items (4) 5 5 • Provision Coverage Ratio 1.8% of gross loans (1.8% at Dec’24). P&L Impairment (Charge) / - 39 20 • Management jud
Slide 19: Funding & Liquidity – Deposit Growth of 7%
Funding & Liquidity – Deposit Growth of 7% Total Funding Profile (€bn) 28.9 28.7 30.0 Key Messages 2.5 2.5 2.5 2.3 • Total deposit growth of 7% YoY in H1 2025 and 5% year to date. 2.8 2.1 1.7 1.5 1.4 • Year to date growth of €1.1bn equivalent to inflows for FY 2024. 9.2 9.4 9.3 • Retail term deposit
Slide 20: CET1 Ratio up to 15.5%
CET1 Ratio up to 15.5% CET1 Ratio Movement1 (%) RWAs Key Messages €11.5bn €10.9bn • CET1 ratio 15.5% at Jun’25; +0.8% since Dec’242. 0.2% -0.2% 1.2% -0.2% 0.1% -0.2% o CRR3 +1.2%; o Profit after Tax +0.2%; o AT1 Coupon -0.2%; o Net Loan Book Growth -0.2%; 14.7% 15.5% o Intangible Software +0.1%; o O
Slide 21: Regulatory Capital
Regulatory Capital HY’25 FY’24 €m €m Capital Optimisation Risk Weighted Assets 10,911 11,494 290 Common Equity Tier 1 1,693 1,684 368 310 310 Additional Tier 1 368 368 230 230 Tier 1 Capital 2,061 2,052 Tier 2 Capital 290 291 Total Capital 2,351 2,343 1,693 1,528 1,528 Common Equity Tier 1 Capital 1
Slide 22: IRB Mortgage Model Submitted
IRB Mortgage Model Submitted Risk-Weight Densities Avg. Risk Key Messages Avg. Risk Jun‘25 EAD (€bn) RWA (€bn) Weight Weight • IRB mortgage model application submitted to Central Bank of Dec’24 Ireland on 30th May. Total Residential Mortgages 20.4 7.4 36.4% 39.6% • The model has been updated to capt
Slide 23: Asset Quality
Asset Quality HY’25 FY’24 Loans and Advances to Customers €m €m Residential mortgages: 19,845 19,539 Home Loans Buy To Let 432 464 Total Residential Mortgages 20,277 20,003 SME / Business Banking 533 493 Consumer Finance 571 553 Key Messages Finance leases and hire purchase receivables 473 466 • Gro
Slide 24: Contents
Contents 1 2 3 4 5 Financial Strategy & Medium- ESG, Business Update Appendix Performance Term Outlook Sustainability & Green Bonds 24
Slide 25: Our Business Strategy 2025-27
Our Business Strategy 2025-27 Our Purpose Working together to build trust with our customers and communities Our Ambition To become Ireland’s best personal and business bank through exceptional customer experiences Who we serve Focused on meeting more of the Focused on Micro, Small and Medium- needs
Slide 26: Delivery Through Five Value Streams
Delivery Through Five Value Streams Deepening Customer Relationships, Diversifying Income, Differentiating Through Customer Experience While Driving Continuous Operational Efficiencies and Prudent Cost Management Manage my Money Grow & Run my Strengthen the Own my Home Transform the Bank (Incl. Paym
Slide 27: Our Strategy in Action
Our Strategy in Action Strong Progress in First 6 Months of our 3-Year Strategy H1 Outcomes Our Strategy +22pts Relationship NPS in H1 2025 (+2 YoY) Deepening Customer Relationships 71% Consumer Consideration1 for PTSB +24k New Current & Deposit Accounts opened Diversifying our Income +14% Business
Slide 28: Strategic Business Transformation (SBT)
Strategic Business Transformation (SBT) Addressable Costs 2024 (€m) Key Messages • PTSB’s cost base needs to be right sized safely and in a manner that protects growth opportunities. 531 540 530 • Our SBT programme has identified sustainable cost initiatives using a top down and bottom-up approach a
Slide 29: Contents
Contents 1 2 3 4 5 Financial Strategy & Medium- ESG, Business Update Appendix Performance Term Outlook Sustainability & Green Bonds 29
Slide 30: Our Sustainability Strategy 2025-2027
Our Sustainability Strategy 2025-2027 Key Messages • New Sustainability Strategy launched in May 2025, aligned to UN Sustainable Development Goals. • Focuses on channelling investment and directing impact towards areas that enhance societal wellbeing. • €560m of Green lending in H1’25; +110% YoY and
Slide 31: PTSB Progress
PTSB Progress Et aunch of the Bank’s Sustainability Strategy aligned to the UN Sustainable Development Goals © Achievement of the ‘Business Working Responsibly Mark’ from BITC! © Committed to setting science-based carbon emission reduction targets (SBTs) by 2024 © Establishment of a Sustainability T
Slide 32: ESG Risk Ratings & Disclosures
ESG Risk Ratings & Disclosures Partnerships & Commitments PTSB engaged Sustainalytics for ESG risk ratings and achieved a “Low” rating under the Thrifts and Mortgages classification (2023, reaffirmed in 2024). PTSB then received an unsolicited “High” rating for the HoldCo under a different classific
Slide 33: Green Bond Framework
Green Bond Framework Background ▪ Use an amount equal to the net proceeds of any green bond instrument to fund, in part or in full, assets that help to mitigate climate change through reduced carbon emissions and energy demand, protect vulnerable ecosystems. ▪ Support the ten strategic outcomes of P
Slide 34: Use of Proceeds
Use of Proceeds An amount equal to the net proceeds of any Green Bond Instrument issued by PTSB or any of its subsidiaries will be Green Residential Buildings exclusively used to finance or refinance the development or acquisition of assets that meet the eligibility criteria defined New Residential
Slide 35: Process for Project Evaluation and Selection
Process for Project Evaluation and Selection ▪ All projects financed or refinanced through PTSB Green Bond proceeds are evaluated and ▪ Responsible for the management, maintenance and updating of the Green Bond added to the PTSB Green Loan Portfolio based on their compliance with the Eligibility Fra
Slide 36: Impact Methodology & Results
Impact Methodology & Results Allocation & Impact Report – FY 2024 Average SEAI Carbon Intensity v PTSB Average Carbon Intensity (kgCO2/m2/year) Methodology: Results of the FY 2024 Report : 60 The Carbon Trust methodology for calculating emissions The Carbon Trust’s impact report estimates that the C
Slide 37: Contents
Contents 1 2 3 4 5 Financial Strategy & Medium- ESG, Business Update Appendix Performance Term Outlook Sustainability & Green Bonds 37
Slide 38: Five Year Income Statement
Five Year Income Statement €m H1’25 FY24 FY23 FY22 FY21 Net Interest Income 288 612 620 362 313 Other Income 34 60 48 47 48 Total Income 322 672 668 409 361 Total Operating Expenses (271) (531) (504) (395) (345) Operating Profit / (Loss) 51 141 164 14 16 Impairment (Charge) / Release - 39 2 31 1 Pro
Slide 39: Interest Income Analysis
Interest Income Analysis Average Balances (€bn)1 Yields (%) Interest Income (€m) H1’25 H1’24 H1’25 H1’24 H1’25 H1’24 Tracker 2.6 3.2 3.9% 5.5% 50 89 Fixed and Variable 17.5 16.8 3.5% 3.2% 298 271 Consumer Finance 0.3 0.3 10.0% 9.9% 16 15 Business Banking2 1.2 1.1 5.6% 5.4% 34 30 Treasury Assets 7.0
Slide 40: Interest Expense Analysis
Interest Expense Analysis Average Balances (€bn)1 Cost of Funds (%) Interest Expense (€m) H1’25 H1’24 H1’25 H1’24 H1’25 H1’24 Current Accounts 9.3 9.3 0.0% 0.0% - - Retail Deposits 13.8 12.6 1.1% 0.7% 76 45 Corporate Deposits 1.6 1.3 2.2% 2.4% 17 16 Wholesale Funding 2.2 2.7 4.9% 5.7% 54 78 Lease Li
Slide 41: Five Year Balance Sheet
Five Year Balance Sheet €’bn Jun’25 Dec’24 Dec’23 Dec’22 Dec’21 Total Loan Book (net) 21.8 21.4 21.5 19.6 14.2 Treasury Assets 7.2 6.5 5.3 5.3 6.7 Other Assets 1.0 1.0 1.0 1.0 1.3 Total Assets 30.0 28.9 27.8 25.9 22.2 Retail Deposits (incl. Current Accounts) 23.5 22.7 21.7 20.6 17.7 Corporate & Inst
Slide 42: NPLs & NPAs breakdown
NPLs & NPAs breakdown Stage 3 Analysis SME/ Business Finance leases and hire 30-Jun’25 Home Loan Buy-To-Let Consumer Finance Total Banking purchase receivables €m €m €m €m €m €m NPL is < 90 Days 114 33 16 6 3 172 NPL is > 90 Days and < 1 year past due 47 6 - 5 2 60 NPL is 1-2 years past due 41 10 1
Slide 43: Thank You
Thank You End of Presentation 43
Permanent TSB Group Holdings — Debt Investor Presentation (September 2025) on 6ix