09-05-2025
Customers can trust PTSB's IT systems, CEO says
The chief executive of PTSB, Eamonn Crowley, has insisted that customers can trust the bank's IT systems following two major outages in recent months.
In April, a technical problem left many people unable to access the PTSB app and website for several hours.
Last November, customers were also hit with payment delays due to a major technical issue with a third-party provider.
Speaking to reporters following the PTSB AGM this morning, Mr Crowley said the bank has invested heavily in IT.
"Over the last four years, we've invested over €200m in our IT systems. It is progressing so customers can trust us and we do provide a good service," Mr Crowley said.
"I'm a customer of PTSB myself so I understand that frustration, but the reality is we are doing the best we can and we're continuing to invest, our systems are good in that sense," he added.
Earlier this year, PTSB said it had priced in the economic impact of 10-15% US tariffs being imposed on European goods in forecasting potential bad loan losses.
Today, the PTSB boss said that fears over US tariffs and geopolitical uncertainty had so far not impacted its business.
In February, the bank announced that around 300 jobs would be cut in 2025 as part of a voluntary redundancy scheme that was launched last year.
Mr Crowley said today that the process was continuing and that the bank was making good progress on reducing its cost base.
