25
Annual Report 2025
Contents
Strategic ReportGovernance Sustainability Financial StatementsGeneral Information
PTSB Group Holdings plc - Annual Report 2025 1
CET Ratio (Transitional basis)
(f)
15.9%
14.7%
14.0%
2025
2024
2023
NPL Ratio
(g)
1.4%
1.8%
3.3%
2025
2024
2023
Risk weighted assets (R.W.A)
(h)
€10,936m
€11,494m
€11,546m
2025
2024
2023
Adjusted Cost to Income Ratio
(d)
74%
66%
75%
2025
2024
2023
Customer deposits €m
(e)
€25.6bn
€24.1bn
€23.0bn
2025
2024
2023
Underlying (loss)/profit €m
(a)
€175m
2025
€180m
€166m
2024
2023
Net Interest Margin %
(b)
2.03%
2.20%
2.32%
2025
2024
2023
Profit / (loss) before taxation
€128m
2025
€159m
€79m
2024
2023
Return on Tangible Equity %
(c)
7.3%
7.5%
6.5%
2025
2024
2023
Financial Highlights
2025: €175m
2025: 75%
2025: 15.9%
2025: 2.03%
2025: €25.6bn
2025: 1.4%
2025: 7.3%
2025: €10,936m
2025: €128m
PTSB Group Holdings plc - Annual Report 20252
Non-Financial Highlights
Environmental
€1.26bn in Green Mortgage Lending
during 2025 (+44% YoY, accounting
for 44% of New Mortgage Lending)
Validation of the Bank’s Science-
Based Targets (SBTs) by the Science
Based Target initiative (SBTi)*
Targets include:
Scope 1: Reduce absolute scope 1
GHG emissions 42% by 2030 from a
2023 base year
Scope 2: Continue active annual
sourcing of 100% renewable
electricity from 2023 through 2030
Scope 3: Reduce all in-use
operational GHG emissions from the
Bank’s Mortgage Loan Portfolio**
51.5% per square meter by 2030
from a 2023 base year
Issuance of a €300m Green Tier
2 instrument through the Bank’s
Green Bond Framework (11.5 times
oversubscribed)
Social
c.56m in Impact Lending during
2025 (+16% YoY), channelling
finance into key SME green and
social sectors
76% Culture Index Score, +6% above
our target of 70%
A multi-year partnership with
AsIAm, Ireland’s Autism Charity,
and PTSB’s full branch network
accredited as Autism Friendly
Governance
Launch of the Bank’s Sustainability
Strategy 2025-2027 aligned to
the UN Sustainable Development
Goals***
MSCI ESG Rating of ‘A’, recognising
that the Bank has strong
management measures relative to
its ESG risks and opportunities and
a CDP rating of ‘B’, acknowledging
that PTSB is actively managing
our environmental impacts in
relation to climate change and are
demonstrating a commitment to
sustainability
55:45 Board Gender Ratio (female to
male) and 38% of Senior Leadership
positions are filled by Women
Our Commitment to Building a
Sustainable Business
Our purpose is to work together to
build trust with our customers and
communities. Our Sustainability
Strategy gives us an opportunity
to put our purpose into action by
channelling investment and directing
our impact towards areas that
enhance societal wellbeing
Ambitions For 2026
Deliver on the commitments set out within PTSB’s Sustainability Strategy
2025-2027 across each of its areas of focus – Investing for Impact, Protecting
our Planet and Shaping an Inclusive Future:
Investing for Impact
• Continue to support customers in making their homes more energy
efficient through delivery of the Bank’s green products and propositions
• Drive growth across our Business Banking Portfolio through a focus on
Impact Lending, supporting businesses that are delivering positive social
or environmental outcomes
Protecting our Planet
• Increase our focus on ESG Risk management through delivery of the Bank’s
ESG Risk Action Plan
• Reduce the Bank’s carbon emissions in line with our validated SBTs
through delivery of PTSB’s Carbon Reduction Plan
Shaping an Inclusive Future
• Improve the financial literacy of our customers through financial
education, inclusion supports and the delivery of digital tools that ensure
that they have the confidence to make informed financial decisions and
the knowledge to plan for their future
• Elevate our social impact through partnerships and continue to support
local communities through our PTSB Community
programming
Strategic ReportGovernance Sustainability Financial StatementsGeneral Information
PTSB Group Holdings plc - Annual Report 2025 3
Chair’s Statement
PTSB delivered a strong performance throughout 2025.
As a purpose-driven organisation, we are committed to
working together to build trust with our customers and
communities. We are meeting personal and business
customer needs through our competitive and innovative
propositions, and we are well placed to continue to drive
sustainable business growth and deliver for the Bank
and its shareholders in 2026 and beyond.
PTSB Group Holdings plc - Annual Report 20254
Chief Executive Review
PTSB’s 2025 Annual Results reflect another year of strong
business and financial performance for the Bank.
With our strong capital and liquidity positions, we are
in prime position to continue to provide much needed
competition in the Irish market and achieve our Ambition
to become Ireland’s best personal and business bank
through exceptional customer experiences.
Strategic ReportGovernance Sustainability Financial StatementsGeneral Information
PTSB Group Holdings plc - Annual Report 2025 5
Chief Executive Review
(continued)
PTSB Group Holdings plc - Annual Report 20256
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Strategic ReportGovernance Sustainability Financial StatementsGeneral Information
PTSB Group Holdings plc - Annual Report 2025 7
Market Context
PTSB Group Holdings plc - Annual Report 20258
Our Strategy, Business Model and Culture
Over the past year, we have strengthened our position as
Ireland’s third largest full-service retail bank by executing on
our strategic priorities. Guided by deep customer insight, we
are delivering new products, enhancing our processes, and
embedding operational excellence to deliver exceptional customer
experiences while continuing to grow and diversify our business.
“ PTSB has a proud
and rich heritage,
operating as a
bank in Ireland
for over 200 years
and supporting
customers to
meet their various
financial needs.”
Strategic ReportGovernance Sustainability Financial StatementsGeneral Information
PTSB Group Holdings plc - Annual Report 2025 9
Business Strategy 2025-27
Our Purpose
Our Ambition
Working together to build trust with our customers and communities
To become Ireland’s best personal and business bank through exceptional customer experiences
Who we serve
Our value
proposition
How we will deliver
Personal Banking Business Banking
Focused on Micro, Small and Medium-
Sized Enterprises, and Business and
Personal Asset Finance customers
Focused on meeting more of the
needs of our existing 1.3m
customer base
Digital First
Physical
presence and
reg ul ation i n
Ireland
Innovative
propositions,
supported by
loyalty rewards
Competitively
priced
Modern and
contemporary
Altogether More
Human brand
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Own my Home
Manage my
Money (incl.
payme nts)
Grow & Run my
Business
Transform the
Bank
Strengthen the
Foundations
The Bank has a clear and long-term strategic direction aimed at delivering
sustainable growth, enhancing customer experiences, and transforming the
organisation for the future. Our strategy is structured around three distinct
phases, each building the capabilities and momentum required to realise our
ambition:
• Phase 1: Optimise our operating model and refine our customer
propositions to become fit for future growth;
• Phase 2: Evolve and develop offers to deepen customer relationships and
grow income; and
• Phase 3: Drive diversification and accelerate sustainable growth.
Our Strategy, Business Model and Culture
(continued)
PTSB Group Holdings plc - Annual Report 202510
The Bank has a three year
Integrated Plan in place to
ensure our resources and
investment are prioritised to
deliver against our strategy.
To ensure we can achieve our
objectives, our strategy is being
delivered 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
Own My Home
Manage My Money
(Incl. Payments)
Grow & Run My
Business
Transform the Bank
Strengthen the
Foundations
New Digital Mortgage
Servicing with Self-Serve
Capability
Optimise Digital, Voice and
in-person Channels to Drive
Acquisition
Introduce new Customer
Offerings, including Retrofit
Maximise Customer
Engagement to increase
Average Product Holding
Expand App and Payment
Capabilities and Drive
Digital Adoption
Develop Innovative
Customer Propositions that
Reward Loyalty
Evolve SME and Asset
Finance Capabilities and
Propositions
Develop Digital Credit
Proposition for Micro-SMEs
Compete through
Enhanced Customer
Service
Drive Efficiencies Through
Strategic Business
Transformation Programme
Elevate Sustainability with
Strategic Focus on the
Social Agenda
Ongoing Transformation
and Investment in People,
Data, Technology, AI and
Innovation
Prepare for Transition to
SSM and Deliver IRB Model
Review
Protect Customer Interests
Through Robust Risk
Management
Mature Cyber, Technology &
Operational Resilience
Strategic ReportGovernance Sustainability Financial StatementsGeneral Information
PTSB Group Holdings plc - Annual Report 2025 11
At PTSB, we describe our
culture as the way we do
things: We are open. We are
inclusive. We build trust. We are
One PTSB.
Our Strategy, Business Model and Culture
(continued)
PTSB Group Holdings plc - Annual Report 202512
Strategic ReportGovernance Sustainability Financial StatementsGeneral Information
PTSB Group Holdings plc - Annual Report 2025 13
We have 12 cultural enablers
which help shape and guide
our cultural journey, and
include:
Our Strategy, Business Model and Culture
(continued)
PTSB Group Holdings plc - Annual Report 202514
Financial Review
Basis of preparation
The Group has delivered a strong financial performance in
2025, with continued focus on strengthening the foundations of
the Bank for future success. The balance sheet has grown over
€1.5bn year-on-year, with continued excellent asset quality and
an NPL ratio of 1.4%. Gross loans and advances to customers
increased by 4% driven by strong growth in the mortgage book.
Strategic ReportGovernance Sustainability Financial StatementsGeneral Information
PTSB Group Holdings plc - Annual Report 2025 15
Exceptional items comprise:
Other non-recurring items comprise:
-
-
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Financial Review
(continued)
PTSB Group Holdings plc - Annual Report 202516
Net interest income Net interest margin
€590m 2.03%
Strategic ReportGovernance Sustainability Financial StatementsGeneral Information
PTSB Group Holdings plc - Annual Report 2025 17
Financial Review
(continued)
PTSB Group Holdings plc - Annual Report 202518
Impairment
€39m write-back
Strategic ReportGovernance Sustainability Financial StatementsGeneral Information
PTSB Group Holdings plc - Annual Report 2025 19