PTSB to reveal €550 million fundraising plan

PTSB to reveal €550 million fundraising plan
Jeremy Masding, chief executive, Permanent TSB

Permanent TSB will this week lift the lid on plans to raise €500-€550 million from private investors to plug a capital shortfall in the loss-making bank.

The Sunday Business Post has learned that the bank’s long-awaited restructuring plan with the European Commission will be agreed in principle, triggering the start of a hunt to seek outside investment.

It’s understood that initial details of the capital-raising will be outlined by the bank’s management team on Wednesday when it also reveals its annual results. A conference for investors will be held the following day when chief executive Jeremy Masding will...

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