Monday September 28, 2020

Lending surge at Permanent TSB as bank exits restructuring phase

Ian Guider reports on Permanent TSB after a "transformational" 2018

Ian Guider

Markets Editor

27th February, 2019

Permanent TSB said it has formally exited an EU-imposed restructuring plan after reducing its toxic loan book in 2018.

The bank, still more than 70% owned by taxpayers, said it made a profit before exceptional items of €94 million in 2018, up 45% on the previous year. That was helped by a 40% rise in new lending to €1.5 billion, with mortgage lending rising by 43%.

Exceptional items for the year totalled €91 million, which was made up of costs of...

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