By Padraic Halpin
The bank's
PTSB has come under particular pressure from Europeanregulators to cut its high level of NPLs and said on Wednesdaythat they had fallen by
It has targeted a reduction of NPLs to below 10 percent ofits loan book by 2021 or sooner.
"I understand of course the view point of people who haveeither criticised us or have a different perspective," PTSBChief Executive Jeremy Masding told the Newstalk radio station.
"Since 2012 we have used all the options available to us.We're not short of managerial focus nor compassion, what we'renow short of is options."
The 75 percent state-owned mortgage lender reported apre-exceptional operating profit of
Shares in the bank were 4.6 percent lower at
New lending surged by 74 percent in that period, increasingthe bank's share of the mortgage market to 12.6 percent from 9.1percent in 2016, within striking distance of the 13-17 percentlevel it targeted to capture by the end of 2018 when re-listingon the stock exchange three years ago.
PTSB's core Tier 1 capital ratio stood at 15.0 percentversus 15.3 percent as of the end of September under fullyloaded Basel III industry rules.
The bank said the strong capital base gave it the capacityto manage down its NPL ratio but that it will have to carefullymanage any impact from the execution of the NPL strategy.
"Real progress is being made on new lending volumes and NPLdeclines, with capital also holding up well, but there are stillconcerns over asset quality given the higher impairment charge,"Investec Ireland analyst Owen Callan said.(Reporting by Padraic HalpinEditing by Keith Weir)