Ian Guider: Permanent TSB struggles to grow lending

Permanent TSB has reported progress on many fronts, just not the one that really matters, writes Ian Guider

Permanent TSB chief executive Jeremy Masding Pic: Feargal Ward

The first profit since 2007. At €26 million, the profit announced by Permanent TSB for 2015 is quite small compared to the €1.9 billion earned byAIB and the €1.2 billion byBank of Ireland. And it excludes some €460 million of exceptional items.

There has, though, been been some progress for the bank with several key numbers moving in the right direction. It’s net interest margin, the gap between what it pays out on ...