Permanent TSB may require €500 million from state to take on Ulster Bank loans

Minister for Finance claims that a beefed up Permanent TSB would prevent a duopoly of AIB and Bank of Ireland emerging

21st February, 2021
Permanent TSB may require €500 million from state to take on Ulster Bank loans
Permanent TSB was named as one of the parties in talks with Ulster Bank’s parent on Friday, but sources said there is strong interest from international funds

The state may have to provide more than €500 million to Permanent TSB if the lender is to secure the small business loans and most of the mortgages from Ulster Bank.

Banking analysts have said Permanent TSB could require a significant cash injection depending on how much of Ulster Bank’s remaining loans are bought and how they are funded.

The government is the largest shareholder in Permanent TSB, owning 74 per cent. And...

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