Market Talk on PTSB’s catch-22: Sell home loans, or risk its future

The taxpayer-owned Permanent TSB must offload 18,000 home and buy-to-let loans to survive, yet to do so will draw the ire of politicians

13th May, 2018
Jeremy Masding, chief executive of Permanent TSB: caught between a rock and a hard place with impatient investors and angry politicians Picture:Feargal Ward

A couple of months ago, I wrote that Permanent TSB, the bank in which the taxpayer is still the majority owner, needed to silence its many critics and demonstrate that it was able to deliver meaningful returns and finally get rid of its legacy non-performing loans that have weighed on its performance for years.

At the bank’s annual general meeting next week, its chief executive Jeremy Masding can point to several numbers going in the...

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