Permanent TSB not ‘healthy enough to lower variable rates’
Addressing an occasionally fractious two-hour agm in Dublin, PTSB chairman, Alan Cook told shareholders that even though the group managed to lower its pre-tax losses last year from €668m to €48m, it is still a loss-making entity overall and needs to accomplish more in lowering costs before it can tackle mortgage rates.
He said this was the case, even though its core banking unit made a return to profit by posting a pre-exceptional surplus [before considering once-off or irregular events] of €5m.
