Permanent TSB 'short of options' and selling thousands of home loans

Permanent TSB 'short of options' and selling thousands of home loans

Permanent TSB says it still has no option but to sell thousands of home loans despite giving out over a billion euro in new lending.

The bank's annual results out today show it has increased its share of the mortgage market to almost 13%.

It also made its first profit in a decade last year, making €40 million after tax.

But CEO Jeremy Masding says they are still going ahead with plans to sell mortgages in arrears.

"We've used all the options available to us. Short-term treatments, long-term treatments, mortgage-to-rent, assisted voluntary sale," he said.

Our track record in supporting customers in financial difficulty show's we're not short of managerial focus nor compassion. What we're now short of is options.

- Digital Desk

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