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BRIEF-PTSB FY pre-exceptional profit rises sharply, new lending up 14 pct
March 8, 2017 / 7:13 AM / 5 months ago

BRIEF-PTSB FY pre-exceptional profit rises sharply, new lending up 14 pct

March 8 (Reuters) - Permanent Tsb Group Holdings Plc

* FY profit before exceptional items 188 million euros versus 26 million euros in 2016

* FY impairment write-back 68 million euros versus 35 million impairment for 2016

* FY net interest margin (excluding ELG fees) 1.48 percent versus 1.44 percent at end-Sept, core bank NIM 1.76 percent

* Nw customer lending increased by 14 percent year-on-year to 591 million euros

* Fully loaded CET1 14.9 percent, npls cut by 11 percent year-on-year to 5.9 billion euros

* Group/Core NIM expected to converge at over 1.70 percent in q1, expect NIM of 1.80–1.90 percent over medium term

* Economic backdrop – particularly residential property market – strongly positive notwithstanding Brexit

* CEO says will have to examine refreshing NPL strategy in 2017, will look at level of capital we keep Further company coverage: (Reporting By Padraic Halpin)

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