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
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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