EBS continues to grow market share in retail mortgage lending - share grew to 28.1% in the first quarter of 2010

SHARE OF THE OVERALL MARKET HAS GROWN BY 7.3% YEAR ON YEAR TO 22.2%

20th May, 2010

EBS Building Society continues to increase its share of both the retail mortgage market and of the overall market according to the latest market data issued by the Irish Banking Federation today. EBS has grown its share of the retail mortgage market to 28.1%. This represents a year on year increase of 10%. The Society’s share of the overall market has grown to 22.2% - a 7.3% increase over this time last year.

While overall lending in the market is down year on year, lending at EBS has contracted at a slower pace than the rest of the market. According to the IBF figures the Society’s share of the important First Time Buyer segment has grown in 2010 with one in two first time buyers who chose to go directly to a financial institution choosing EBS. The continuing growth in this segment reflects the competitive rates available from EBS and the fair and transparent approach that the Society continues to take with regards to lending terms and conditions.

Commenting on the latest figures Dara Deering, Director of Membership Business said: “While 2010 has started at a slower pace than 2009, First Time Buyers and increasingly Second Time Buyers are active in the market. EBS continues to offer competitive products and genuine access to credit for those who are seeking to buy a new home. This commitment to buyers is paying off as a growing proportion of the active market is seeking to do business with EBS.

“The year to date has started well for EBS with continued growth in market share. This reflects the growing volume in application levels that we have received in the New Year despite the fact that January started slowly as a result of the adverse weather conditions. The level of applications, specifically for first time buyers remains strong. This suggests that some potential buyers have decided that 2010 may be the time to get into the market.”