IL&P focuses on current account numbers
Gillian Bowler, Chairman of Irish Life & Permanent plc, has reiterated the group’s focus on growing the number of permanent tsb current account customers significantly in 2005.
The bank is to launch an aggressive marketing drive for new customers to coincide with the introduction of the new IBF Code designed to facilitate switching for current account customers, to be launched on January 31.
Ms Bowler was speaking at the formal re-opening of the Rathmines Branch of permanent tsb which was attended by the Taoiseach, Bertie Ahern
Ms Bowler said that the bank had significantly grown its market share in the current account sector through 2004 and will have opened up as many as 40,000 new current accounts during the year.
According to independent research undertaken by MORI, permanent tsb now accounts for 11% of the current account market in Ireland, ahead of Ulster Bank (9%) and NIB (3%).
The bank aims to open up to 60,000 new current accounts in 2005 following the introduction of the switching code.
This would give it more than the 3% market share currently accounted for by NIB.
Irish Life & Permanent’s share price on the ISEQ was €13.10 at lunchtime today, up 7c on its opening price.
