One in five PTSB mortgages in arrears

Roughly 16% of all Permanent TSB’s Irish mortgage book was in arrears by more than 90 days at the end of December, which is up from 12% in arrears more than 90 days at the end of 2011.

Moreover, 5% of its total Irish mortgage book was in arrears by less than 90 days at the end of December, which means that one in five of its mortgages in the Republic of Ireland is in arrears.

The State-controlled bank released its results for 2012 yesterday, which show that losses after tax climbed to €999m, compared with €424m for 2011.