Losses shrink at Permanent TSB

Losses shrink at Permanent TSB View Gallery
Jeremy Masding, chief executive, Permanent TSB

Permanent TSB indicated last week that it will raise €525 million from investors to plug a capital shortfall after it failed European-wide stress tests on its loan book last October. The bank also announced that its losses last year shrank to €48 mil

“The plans announced today by Permanent TSB to raise capital from private sources are the first step in returning the bank to private ownership and will allow the state to recoup approximately €400 million of the €4 billion invested during 2011/2012 in Irish Life & Permanent [now Permanent TSB].”

Minister for Finance, Michael Noonan

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