Sunday July 5, 2020

Permo stressed: State to cede 20% of PTSB as bank seeks to plug €1bn hole

PTSB will tap up markets for €300m following stress test failure, writes Jack Horgan-Jones.

26th October, 2014
PTSB will have to raise up to €1bn on money markets. Picture: Tony O'Shea

The state will have to cede around 20 per cent of its holding in Permanent TSB to avoid sinking more funds into the bank, which will fail a key stress test this morning.

PTSB will be forced to raise between €800 million and €1 billion on international money markets in order to meet a hole in its balance sheet discovered by the Europe-wide tests, which simulate how a bank would fare in the event of a...

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