PTSB shares rise as Moody’s upgrades credit rating

Shares in the lender rose 1.2 per cent to €1.72 on Friday, giving it a market value of €944m

PTSB shares rose 1.2 per cent to €1.72 on Friday following its ratings upgrade. Photograph: Alan Betson / The Irish Times

Shares in PTSB rose 1.2 per cent to €1.72, giving the lender a market value of €943.9 million, to defy weakness across the wider banking sector. AIB and Bank of Ireland fell 3.5 per cent and 2.7 per cent, respectively. “We expect the bank’s asset risk to benefit from its secured loan book which will help to maintain an NPL ratio in the low single digits,” Moody’s said. “However, we also note the bank’s strategic plans to expand into higher risk lending areas such SME lending and asset finance, as well as increasing its share of other financial products to retail customers.”

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