Permanent TSB Group Holdings (CDI) (PTSB): Cost reduction and transformation programme
This situation live
PTSB Permanent TSB Group Holdings (CDI)
30 Oct 2025 · On track; staff down 239 since year end · +1% until the next step
Total operating expenses were marginally lower in the first nine months with underlying costs ex regulatory charges up c. 1% reflecting a temporary increase in investment costs in the quarter.
30 Oct 2025 · On track; costs marginally lower · +1% until the next step
Operating expenses were marginally lower for the first nine months and are on track to reduce to PTSB's full year target of €525m.
29 Jul 2026 · On track; costs 1% lower · −2% since
Total operating expenses were 1% lower in H1 2026 at €270 million, with underlying costs excluding regulatory charges also down 1%.
Cost reduction and transformation programme
On track; costs 1% lower
Every step · 3
- 30 Oct 2025 On track; staff down 239 since year end – Total operating expenses were marginally lower in the first nine months with underlying costs ex regulatory charges up c. 1% reflecting a temporary increase... ↗
- 30 Oct 2025 On track; costs marginally lower – Operating expenses were marginally lower for the first nine months and are on track to reduce to PTSB's full year target of €525m. ↗
- 29 Jul 2026 On track; costs 1% lower – Total operating expenses were 1% lower in H1 2026 at €270 million, with underlying costs excluding regulatory charges also down 1%. ↗
What is happening
Permanent TSB Group Holdings (CDI): Cost reduction and transformation programme – On track; costs 1% lower. ['On track; costs 1% lower']
- In short
- Cost programme on track since 30 Oct 2025. H1 2026 operating expenses were €270m, 1% lower, and headcount (FTE) was almost 7% below June 2025. Cost/income ratio fell to 71% from 76%, helped by supplier, third-party and change-spend control and attrition.
- Announced
- 30 Oct 2025 · On track; staff down 239 since year end
- Latest
- 29 Jul 2026 · On track; costs 1% lower
- Operating expenses
- €270 million in H1 2026, 1% lower
- Cost/income ratio
- 71%, 5 ppts lower
- Headcount
- FTE almost 7% below June 2025
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