Problem child Permanent TSB returns to normality

Problem child Permanent TSB returns to normality

PTSB’s securitisation of €1.3 billion of residential mortgages is a lead that other lenders should follow – and maybe they will

At the start of the year, if you had predicted which Irish bank would clean up the majority of its remaining toxic debt from its books, it probably wouldn’t have been Permanent TSB.

The sale of Irish mortgages to international investors has become as politically toxic as Irish Water was. As this newspaper reported earlier this year when Permanent TSB’s Project Glas was offloaded to Lone Star, the sale of home loans threatened the...

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