PTSB: Rates rise not ruled out

PERMANENT TSB has no immediate plans to increase its variable interest rates for mortgage customers — following its controversial 0.5% hike in July — but has not totally ruled out any such moves.

Addressing the Joint Oireachtas Committee on Finance and the Public Service, yesterday, the bank’s chief executive, David Guinane, said that while there is no plan for an increase, it could be looked at again if the bank’s cost issues continue unchanged.

Regarding the July rates increase, Mr Guinane remarked, yesterday: “We didn’t take that decision lightly and we understood the impact it would have on customers and we wouldn’t take a step to raise rates again any way lightly.