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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