PTSB directors apologise for bank failures

Three senior managers at Permanent TSB yesterday apologised for the failures of the bank in not informing customers about their mortgage rights.

Chief executive Jeremy Masding, chairman Alan Cook, and Niall O’Grady, the director of transactional banking, revealed that at least 22 customers had either lost their homes or investment property because of wrong-headed actions taken by the bank.

Mr Masding said the bank had found no evidence that the failures were as a result of a deliberate policy or that customers were mis-sold products or had been overcharged.