Permanent TSB lending picks up, but challenges ahead
Bank faces intense competition and increased regulatory costs
Last month,Permanent TSB agreed to sell its remaining loans in Britain to a company owned by investment fund Cerberus Capital Management for £1.95 billion in cash.
Chief executive Jeremy Masding hailed the sale as a “milestone event” for the bank, as it completed a programme set out by the European Commission under PTSB’s restructuring plan.
PTSB, which is still majority-owned by the state, now intends to focus on its Irish banking activities, particularly ...
