Permanent TSB strong and getting profitable again, says Noonan

Finance Minister Michael Noonan has said if Permanent TSB Group Holdings, the 99.2% government- owned lender, needs to raise capital after European stress tests this month, it can do so in the markets and not upset state finances.

“Permanent TSB is strong, very well managed and becoming profitable again,” he said.

“If they require extra capital, they’re strong enough to get the small amounts of capital they require in the markets, so we don’t see any risk to taxpayers.”