Saturday February 22, 2020

SBP editorial: PTSB sale carries a whiff of hypocrisy

5th August, 2018

It was, by all accounts, a triumph. Permanent TSB managed to shed itself of loans secured against 10,700 properties, of which about 7,400 are private homes.

PTSB received €1.3 billion from Lone Star for the loan portfolio, which had a par value of €2.1 billion. The sale drove the bank’s share price up by close to 10 per cent, with investors suitably enthused. PTSB was equally happy, having come under immense strain from Frankfurt to make some...

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