BoI investor rules out ‘dance’ with Permanent TSB

US billionaire Wilbur Ross, who made a €500m profit buying shares in Bank of Ireland at the height of the country’s financial crisis, has ruled out investing in Permanent TSB, the only Irish lender to fail European stress tests last month.

“Having gone to the dance with Bank of Ireland, and we had a very good waltz with them, I think we’ll be faithful to it,” Ross, 76, said in an interview with Bloomberg Television yesterday, in response to a question whether he will consider investing in Permanent TSB.

Ross was part of a group of five investors to help rescue Bank of Ireland in 2011 by buying a 35% stake in the nation’s biggest lender for €1.1bn.