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ptsb Trading Statement Released : 28/10/2021 07:00 RNS Number : 5007Q Permanent TSB Group Holdings PLC 28 October 2021 28 October 2021 Permanent TSB Group Holdings plc ( ' the Bank ' ) Trading Statement - Q3 2021 Update " The Bank is competing successfully , maintaining new mortgage market share at 17.5 % and delivering a strong financial performance . We are also making good progress in SME lending , with an increase of 43 % from the prior period . We have made substantial progress on our digital transformation journey , following the announcement of an additional € 50m investment in technology infrastructure and digital capability earlier this year . This has included an upgrade of the Bank's core platforms , desktop and app services ; a new digital process for opening current accounts ; the introduction of Apple Pay ; and , a partnership with Irish fintech Credit Logic . This week , our Personal and SME customers will also benefit from Google Pay , enabling customers to pay for goods and services with their Android devices . We are focusing intently on the opportunities arising from the potential acquisition of a major part of the Ulster Bank retail and SME business . We are building on our Memorandum of Understanding with NatWest Group and the parties are working towards legally binding agreements . In addition to the Ulster Bank assets we are proposing to acquire , we are also ready to welcome Ulster Bank current account and deposit customers who will need a new bank . Through our branches in communities throughout Ireland , our online and phone channels and our enhanced digital app , we are here to support these customers in moving their business to Permanent TSB . " Eamonn Crowley , Chief Executive Key Highlights Q3 2021 : • Strong new lending of € 1.4 billion YTD ; 50 % higher than the same period in 2020 • Increased new mortgage market share to 17.5 % up from 14.9 % at September 2020 [ 1 ] • Loan Book growth , primarily Residential Home Loans , up 1 % from December 2020 • Net Interest Margin ( NIM ) of 1.49 % , 25bps lower year - on - year due to higher levels of excess liquidity and rate reductions for new and existing customers Customer deposits of € 18.9 billion , up 5 % ( € 0.9 billion ) since the start of the year • NPL Ratio reduced further to 6.9 % • Non - performing loans ( NPLs ) of € 1.0 billion at 30 September 2021 are c . € 0.1 billion lower than the balance reported at December 2020 • The Bank maintains a strong capital position ; fully loaded CET1 capital ratio of 15.1 % Business Performance New mortgage lending of € 1.3 billion grew by 56 % YoY , significantly outperforming the mortgage market which grew by 32 % . Market share of mortgage drawdowns grew from 15.3 % at December 2020 to 17.5 % at September 2021. Whilst the mortgage market in Ireland is estimated to grow 19 % from € 8.4 billion in 2020 to c . € 10 billion [ 2 ] in 2021 , it remains competitive . SME Lending totalling € 58 million YTD reflects an increase of 43 % from the prior period . Our partnerships with the Strategic Banking Corporation of Ireland ( SBCI ) , Bibby Financial Services Ireland , Digital Business Ireland and WorldPay from FIS will provide us with an excellent platform to build on the momentum generated to date . Our existing € 50m SME lending partnership with the SBCI was fully subscribed within 2 months of launch . Income Net interest income decreased by 10 % compared to the same period in 2020. This reflects lower income post the sale of performing