Permanent TSB’s stuttering recovery
The pressure is on to finally clean up Permanent TSB’s non-performing loan book, but the options are becoming increasingly limited
When the troika came to Ireland in the dying days of 2010 they had their own firm views on our broken banking system and how to fix it. For a while,Permanent TSB, or Irish Life & Permanent as it was then called, didn’t form part of their plans.
It was a mess. Arrears on its mortgage loans were far in excess of other banks. But the government, and the bank’s management, in 2012 ...