We believe the non-performing loan (NPL) update from PTSB should be positively received. PTSB is pursuing a strategy to achieve a reduction to a high-single-digit NPL ratio in the medium term while minimising the impact on its capital base. We believe the commencement of a portfolio sale coincides with strong investor appetite for Irish portfolios, while non-sale reduction techniques demonstrate that PTSB will not be solely reliant on sales to achieve its NPL targets.
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J & E Davy, trading as Davy, is regulated by the Central Bank of Ireland. Davy is a member of the Irish Stock Exchange, the London Stock Exchange and Euronext. In the UK, Davy is authorised by the Central Bank of Ireland and authorised and subject to limited regulation by the Financial Conduct Authority. Details about the extent of our authorisation and regulation by the Financial Conduct Authority are available from us on request.