PTSB appoints Deutsche Bank as adviser on return to private hands

Irish state-owned mortgage lender Permanent TSB (PTSB) has appointed Deutsche Bank to advise it on its future return to private ownership, the bank said yesterday.

PTSB, the smallest and weakest of Ireland’s three remaining domestically- owned lenders, cut its first-half underlying loss by 62% in August after impairment charges on its loans fell by two-thirds.

It was reported yesterday that Deutsche Bank had met potential investors who could take a stake in the 99% state-owned lender or buy it outright.