Monday September 21, 2020

Analysis: Second wave could prove painful for prudent banks

Making provisions early helped the country’s lending institutions limit the worst damage from Covid-19, but the danger is far from over

Ian Guider

Markets Editor

9th August, 2020
The five main Irish banks lost more than €2 billion combined during the first six months of the year. Picture: Fergal Phillips

The ornate boardroom in Permanent TSB’s headquarters overlooks the north-east corner of St Stephen’s Green, and is a throwback to a different era. The antique furniture and corniced ceiling of the Georgian building is in stark contrast to the canary yellow safety warnings to maintain social distancing due to Covid-19.

It is also a glaring reminder of the damage the coronavirus is doing to Permanent TSB and indeed its other Irish...

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