Permanent TSB’s decision to retain an internal “bad bank” as part of its core bank will delay the privatisation of the 99.2 per cent state owned lender, according to Davy Stockbrokers.
The new strategy will see the core bank include the €6.4 billion of underperforming loans that are contained in a on-core asset management unit (AMU), as well as the PTSB “good” bank that contains €14.2 billion of loans. This contrasts with...
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