PTSB makes €4m group-wide profit

Permanent TSB made a group-wide profit of €4m before bad debt charges and exceptional items for the first six months of the year. 

The performance is a significant turnaround from the massive losses posted over the past five years.

Most of the improvement stems from the 65% fall in impairment charges of €149m for the first half of the year, compared with €430m for the same period in 2013. However, there was also an improvement in PTSB’s topline performance.