SBP editorial: PTSB sale carries a whiff of hypocrisy

It was, by all accounts, a triumph. Permanent TSB managed to shed itself of loans secured against 10,700 properties, of which about 7,400 are private homes.

PTSB received €1.3 billion from Lone Star for the loan portfolio, which had a par value of €2.1 billion. The sale drove the bank’s share price up by close to 10 per cent, with investors suitably enthused. PTSB was equally happy, having come under immense strain from ...