Permanent TSB reports 63% jump in new mortgage lending

That's well ahead of the market average...

Permanent TSB Bank, the publicly-quoted financial institution which is still 75% owned by the taxpayer has announced that total new lending volumes have risen by 64% in the first quarter of the year compared to last year.

Its net interest margin - the difference between its interest income and the interest it is paying on its loans - nudged upwards to 1.8%.

The bank's new mortgage lending increased by 63% year-on-year compared to the same period in 2016. This was well ahead of the overall market's 39% increase in drawdowns.

Permanent TSB's share of mortgage drawdowns has increased to 10.4%.

Approximately 10,000 new current accounts were opened during the quarter.

That trading statement comes ahead of its AGM in Dublin later today.

It describes its current stance as, "profitable and Capital generative."