Permanent TSB chief sees 'complex' Ulster Bank deal by year-end at earliest

Chief executive Eamonn Crowley said he was determined to complete the purchase of mortgage loans in the carve-up of Ulster Bank as it exits the Republic

Permanent TSB CEO Eamonn Crowley.

The boss of Permanent TSB said he was determined to complete the purchase of mortgage loans in the carve-up of Ulster Bank as it exits the Republic, but the "complexity" of any deal means it would likely be struck at the end of the year, at the earliest.    

Permanent TSB – which is 75% owned by the Government – stepped forward three months ago to participate in the carve-up of the Ulster Bank's €20bn loans books. Permanent TSB wants to acquire a large chunk of Ulster's €14bn mortgage loan books, while AIB is seeking to buy €4bn of its corporate loans.