Readers like you keep news free for everyone.
More than 5,000 readers have already pitched in to keep free access to The Journal.
For the price of one cup of coffee each week you can help keep paywalls away.
Readers like you keep news free for everyone.
More than 5,000 readers have already pitched in to keep free access to The Journal.
For the price of one cup of coffee each week you can help keep paywalls away.
Fianna Fáil’s Michael McGrath described the figure as ‘extraordinarily high’.
Many of the mortgage-holders sold today had engaged with the bank and reached arrangements.
A total of 7,400 are owner-occupier mortgages, while 3,300 are buy-to-let properties.
The bank recently announced it is to sell off a €3.7 billion portfolio of non-performing loans, including mortgages 14,000 private dwelling homes.
Three of Ireland’s top bankers were before an Oireachtas committee to talk about the state of Irish banking system.
Jeremy Masding faced a grilling yesterday.
Jeremy Masding said the bank’s problems stem to before he took the reins.
The admission comes as the company turned its first profit on its core business in eight years.
The bank is about to go on a fundraising drive.
The bank’s boss said its lending costs were still higher than those of bigger competitors.
Officials from Permanent TSB told the Oireachtas finance committee that 85 per cent of customers offered a split-mortgage had agreed to the deal.
The bank says the next step is to exit state ownership.
Sinn Féin’s Pearse Dohery says that he has met with a family who were advised to clear arrears of €300 by selling their home, something the PTSB CEO says he is “not aware” of.
Stephen Donnelly says that the bank’s response was “deeply disappointing” and says that the crisis is not one of arrears, it is one of debt.
Jeremy Masding says he is confident that the bank has a future and says that 2,200 staff are working hard to compete in Ireland.
Bank of Ireland, AIB and Ulster Bank chiefs have all been questioned over the past few days – and now it’s the turn of PTSB.
TDs and Senators on the Oireachtas Finance Committee will grill the heads of the main Irish banks next week.
There’s some good news, though: losses on loan write-offs are down by over half a billion euro when compared to 2011.
The finance minister says his department is reviewing bankers’ pay, but he hasn’t asked staff to waive parts of high salaries.
The figures highlight the challenge ahead, according to new CEO Jeremy Masding.
The bank announced this afternoon it is cutting its interest rate to move closer in line with competitors.
Jeremy Masding will take up his new role in February.