PTSB aiming for 10% equity return

Permanent TSB is forecasting a 10% return on equity for its good-bank unit by 2017 under a plan to return it to private ownership after a bailout.

The bank is targeting a 5% return on equity by 2017, including its internal bad bank of distressed mortgages and a unit of loans to be sold, according to an investor presentation seen by Bloomberg News.

Spokesman David Clerkin confirmed the contents of the presentation, dated Jan 7.