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

12th March, 2017
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Jeremy Masding, chief executive of Permanent TSB, says the lender has to start paying dividends sooner rather than later Picture: Fergal Phillips

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 persuaded the troika that PTSB could have a viable future if it was allowed to carve out its good loans from its bad. Letting it go to the wall would have many consequences, the least of which was a lessening of competition, never mind the jobs and the signal it...

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