Permanent TSB loan impairment provision hits €1.4bn in 2011
Irish Life & Permanent’s banking business Permanent TSB is expected to make loan impairment provisions of approximately €1.4 billion in respect of 2011.
Irish Life & Permanent’s banking business Permanent TSB is expected to make loan impairment provisions of approximately €1.4 billion in respect of 2011.
This is a sharp rise from the €420 million impairment charge it took in 2010. Almost all of the expected increase is attributable to the bank’s Irish residential mortgage loan book.
In a statement, the bank blamed a change in the assumption for the peak to trough decline in house...
Subscribe from just €1 for the first month!
Exclusive offers:
All Digital Access + eReader
Trial
€1
Unlimited Access for 1 Month
*New subscribers only
Annual
€200
€149 For the 1st Year
Unlimited Access for 1 Year
Quarterly
€55
€42
90 Day Pass
2 Yearly
€315
€248
Unlimited Access for 2 Years
Team Pass
Get a Business Account for you and your team
Related Stories
The year in review
The best writing and and the biggest stories of 2019 from the Business Post
Newsround: What Thursday’s papers say
Denis O’Brien is back in court, residents continue to fight the Council on halting site and a row surfaces in government over rent control proposals
More cycle routes, expansion of Luas to Bray and new bus network proposed
Greater Dublin Area draft Transport Strategy published