Irish banks have trailed European peers in increasing rates following a raft of ECB hikes
Irish banks have lagged behind European peers in passing on rising European rates to mortgage customers. Domestic banks here have tens of billions of euro of surplus deposits, and have benefited hugely from the ECB also moving since July from charging banks 0.5 per cent for excess deposits stored with it to paying them a rate of 2 per cent.
However, market observers say that PTSB is reluctant to cede mortgage market share to rival banks at a time of heightened loans switching activity in the market.
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