Mr. Jeremy Masding:

We are a full service retail and SME bank. On the liability side, we have an excellent current account plus a full range of deposit services and outsourced investment management with our partners. On the asset side of the balance sheet, we have mortgages at fixed and variable rates, particularly based on LTVs; in terms of unsecured loans, we now have an app via which someone can go from application to payout in less than 15 minutes, and this business is picking up; and credit card overdrafts.

In SME banking, PTSB's heritage is in the communities of Ireland. I have only been here since 2012, but the organisation has been here for hundreds of years. It is deeply imbedded in the towns of Ireland. We are underperforming relative to what we can achieve in the SME market, particularly at its smaller end. The team is doing a nice job and we are beginning to pick up business and deals. Most important, we are beginning to be heard in those communities. For example, I might stop into a local chamber of commerce meeting as I am driving around. I will sit at the back. Invariably, someone from AIB or Bank of Ireland is speaking about its SME offer. I have been to a few such meetings on SMEs.

We are doing okay. Of course, hubris is a dangerous drug. Our return on equity, ROE, is 3% and our non-performing ratio, NPR, is 10%.