It’s hard being a small bank. Just existing as a bank costs a lot of money. Compliance and IT costs are big and they’re growing. Those things cost approximately as much whether a bank is big or small. That’s why Ulster Bank leaving the market was a shot in the arm for PTSB. Adding Ulster Bank’s loan book allowed PTSB to get some much-needed scale. Adding customers allowed PTSB to spread those fixed costs over a greater number of people. This was true of PTSB and of the other Irish banks too. Even Bank of Ireland and AIB are, arguably,…

Want to continue reading?

Join today with an Annual membership and get full access to The Currency for just €200 (68c per day) or try monthly membership for just €5 for your first month.

Subscribe

Cancel at any time.

Are you already a member? .