PERMANENT TSB GROUP HOLDINGS PLC (LON:ILOA)

Permanent TSB Group Holding plc is an Ireland-based company that provides financial services like retail and SME Banking across the Irish market. It has a long banking heritage of over 200 years, and was founded in the year 1816 as Irish Savings Bank. Its headquarters are situated in Dublin, Ireland, and it is listed and traded on the London Stock Exchange as well as on the main securities market of the Irish Stock Exchange. The company has many subsidiaries, which include Irish Life & Permanent plc, ESOP, Woodchester Investment Brokers Ltd, Permanent tsb PLC, Irish Permanent (I O M) Ltd, Permanent TSB p.l.c., Asset Management Arm, Permanent Bank International Ltd etc. Due to the strategic important of the company in the financial system of Ireland, over 99% of the ordinary shares issued by the company are owned by the Ministry of Finance in Ireland. The company operates exclusively across the Republic of Ireland and has a network of 78 branches to maximise its reach among the Irish customers.

The ultimate goal of the company is to become the best personal and small business bank in Ireland, to gain the trust of its customers, and to build long-term relationships with them. It aims to maximise the risk-adjusted returns for all its stakeholders and create sustainable value in the long run. The key priorities for the growth of the company are loyalty to its customers, enhancing its digital capabilities, promoting an inclusive culture, simplifying its business operations, and growing sustainable profitability. It follows a multi-channel service and distribution model, covering SME, direct channels, direct and digital channels, brokers, and branch network. It operates through its core banking segment to offer its banking products to the customers, like term loans, consumer finance, and deposit accounts etc. It also offers asset management services to its customers.

Permanent TSB Group Holding plc follows a well-defined framework of corporate governance and aligns itself with the UK Corporate Governance Code. It has an ethical code of conduct for running its business operations and promotes the culture of trust, transparency, and accountability. It acts as a responsible and sustainable business, and strives to maximize the returns for all its stakeholders, including shareholders, colleagues, customers, the wider community and the environment. The company has a comprehensive ESG (Environmental, social and Governance) framework in place and has even set up a dedicated sustainability committee in 2020 to reduce the impact of its business activities on the environment and to regularly asses its environmental performance. Its community partners include Trinity College Dublin, Social Entrepreneurs Ireland, Cybersafe Kids etc. In 2020, it received the ‘Business Working Responsibly Mark’ from BITCI (Business in the Community Ireland) for its responsible business programs in Ireland.