The Permanent problem: how do you fix a broken bank?

The Permanent problem: how do you fix a broken bank?
Alan Cook, chairman of Permanent TSB, speaks at its agm last Thursday, while chief executive Jeremy Masding (second left) looks on. Picture: Feargal Ward

The future for Permanent TSB remains uncertain, and last week's agm will have brought little comfort for investors, writes Michael Murray.

Shareholders of Permanent TSB attending last week's agm should have been left in no doubt that the company's prospects of becoming a viable stand-alone entity in its own right are deeply remote.

The bank is struggling to return to a level of commercial viability that would generate an attractive return on capital for investors.

What's left of its business model makes it difficult to foresee it surviving as a third force competing on anything approaching...

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