Permanent TSB commits to ‘rebuilding trust’ after posting pre-tax losses of €166m

The bank’s lending fell by 15 per cent last year as the pandemic took a bite from its business

3rd March, 2021
Permanent TSB commits to ‘rebuilding trust’ after posting pre-tax losses of €166m
Permanent TSB said it had moved to set aside a €155 million impairment charge to deal with the fallout of the pandemic

Permanent TSB has said it will seek to “rebuild trust” among customers after reporting a pre-tax loss of €166 million in 2020.

The bank’s lending fell by 15 per cent – down to €1.4 billion – in 2020 as the pandemic took a bite from its operations.

But Eamon Crowley, its chief executive, said a strong performance in the second half of the year – with mortgage applications rebounding after Ireland’s summer reopening –...

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